Private space travel company Axiom Space has raised $130m to launch its own space stations.
The Texas company is building private space stations for orbit and has been selected by NASA to provide its modules to the International Space Station in the coming years.
Last month Axiom announced that it had assembled its first private astronaut crew that will fly to the ISS in 2022. The start-up said it plans to detach these modules in 2028 to operate as its own independent space station in orbit.
When fully operational, the space station will be the key piece of infrastructure to facilitate further private space exploration to the Moon and Mars.
The Series B round was led by C5 Capital with several other investors taking part including TQS Advisors, Declaration Partners and Moelis Dynasty Investments.
Axiom said in a statement that the new funds will finance the construction of its space station by expanding its headcount.
“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,” co-founder Kam Ghaffarian said.
Axiom was founded in 2016 to join the new space race of private companies. According to Bank of America, the industry is tipped to be worth $1.4trn over the next decade, despite the investment delays and setbacks brought on by the pandemic.
It’s an opportunity that hasn’t been lost on investors with investment in space tech reaching $25.6 billion in 2020.
Rob Meyerson, operating partner at C5 Capital, which led this funding round, will be joining Axiom Space’s board of directors.
“Axiom Space is a force in the space sector, and it will become a centrepiece of the C5 Capital portfolio and enhance our vision for a secure global future,” he said.
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