With Saudi-Korean funding, “Axiom Space” raised $350 million ‎to develop a private space station

Axiom Space has raised $350 million in a financing round led by the Saudi Al-Jazira Capital and Korean Boryeong Healthcare, as part of the space startup’s efforts to cooperate with the Aeronautics and Space Administration (NASA). To develop a private space station

According to “Reuters”, the company declined to estimate the value of this station today, Monday, saying that the funding round raised the total it had collected so far to $ 505 million, which made the company receive the second largest financing in 2023 after SpaceX, owned by the American billionaire Elon Musk.

This step comes at a time when hopes have risen for increased funding for startups operating in the field of space, after investments in this sector decreased by more than half in the first three months of the year and remained unchanged in the second quarter.

Axiom Space has a $1.26 billion contract with NASA to develop spacesuits for use on the moon and other space programs. The company expects to launch the first unit of its private space station by 2026

The company also trained astronauts, who were transported to the International Space Station via rockets manufactured by SpaceX, amid increasing private sector entry into space, which was previously controlled by the US government. The company said that the value of the contracts it concluded with customers exceeds $2.2 billion.