Home / Business and Economy / Axiom Space Raises Over $525M for Commercial Space Hub
Axiom Space Raises Over $525M for Commercial Space Hub
4 Jun
Summary
- Axiom Space secured an additional $175 million, totaling over $525 million.
- The company aims to develop a commercial space station as a ISS replacement.
- Axiom Space is establishing a subsidiary in Switzerland to engage with ESA.
Axiom Space has successfully raised an additional $175 million, pushing its latest funding round past the $525 million mark. This capital infusion supports the company's ambitious goal of developing a commercial space station, intended to succeed the International Space Station before its planned decommissioning in 2030.
The company, co-founded by billionaire Kam Ghaffarian, is a key player in the race to build private space stations. Recent funding includes participation from MUFG Bank Ltd. and existing investors. Earlier this year, Axiom Space announced a $350 million raise.
This funding comes amid evolving NASA strategies for commercial space involvement. The agency recently indicated it may only be able to support one commercial station. In parallel, Axiom Space is expanding its international presence by establishing a subsidiary in Lucerne, Switzerland, to strengthen ties with the European Space Agency.
