Axiom Space, which is developing the first commercial space station, has raised USD130 million in Series B funding.
The round was led by C5 Capital and includes Declaration Partners (the investment firm backed by David M Rubenstein), Moelis Dynasty Investments, The Venture Collective, Hemisphere Ventures, and Starbridge Venture Capital.
The new financing will accelerate the growth of Axiom’s workforce and its development of the first commercial space station. The Axiom Station will serve as the central pillar of a thriving network of commerce in Earth’s orbit – a lynchpin of a space economy that Bank of America and Morgan Stanley both project could be valued at more than USD1 trillion in the next few decades.
Admiral Mike Mullen, C5 Capital Operating Partner and 17th Chairman of the US Joint Chiefs of Staff, says: “Axiom Station will play an important role in future missions critical to preserving our national security and fighting climate change.”
“Axiom Space is a force in the space sector, and it will become a centerpiece of the C5 Capital portfolio,” says C5 Operating Partner Rob Meyerson, who will join the Axiom Board of Directors. “The Axiom Station will be the infrastructure upon which we will build many new businesses in space, and it will serve as the foundation for future exploration missions to the Moon, Mars, and beyond.”
“Axiom Space was founded on the knowledge that commercial infrastructure and innovation in space would offer unique ways to improve life on Earth,” says Axiom Co-Founder and Executive Chairman Kam Ghaffarian, who provided the company’s seed funding through his family office, IBX. “Axiom’s sole-selection by NASA to connect to ISS and ability to leverage its key revenue lines are evidence of the company’s expertise and a business model that is set up to optimise across a variety of commercial on-orbit opportunities. This highly successful round is a pivotal moment for on-orbit commerce and its implications for our civilisation’s potential are far-reaching.”
Brian Stern, a Partner at Declaration Partners, says: “We are proud to partner with Axiom’s exceptional management team, who built, led and visited the International Space Station on behalf of NASA and its partners. The next generation space station we are building today will be a key means of conducting space-based research, manufacturing, communication and travel for decades to come.”
Carol Melton, CEO of Adeft Capital, says: “As Axiom pioneers the era of true private space travel, I am excited for Adeft Capital to support their mission to enable a permanent human presence and a thriving new ecosystem of commercial activity in Low Earth Orbit. I look forward to working closely with Axiom to develop female leadership in the space sector.”
