$130 million raised by Axiom Space

On February 16, Axiom Space revealed that it had garnered $130 million from a consortium of investors, enabling the company to press forward with its long-term plans to set up a private space station. The C5 Capital, a company that does invest in the¬†cybersecurity as well as “closely aligned” segments, like space, leading the Series B round. Moelis Dynasty Investments, Declaration Partners, Washington University situated in St. Louis, TQS Advisors, Hemisphere Ventures, The Venture Collective, Aidenlair Capital as well as Starbridge Venture Capital are among those involved in the round.

In a discussion, Michael Suffredini, the president as well as chief executive of Axiom, stated the funding would allow the firm to grow including doubling its existing workforce of around 110 people this year. This will also help quarterly contributions to the Thales Alenia Space, which is constructing the first modules’ pressurized components. Lately, the company relocated to a 2-story house in Houston and is purchasing a new testing site, with plans to set up a campus at the Houston Spaceport, often known as Ellington Airport. “For us, this is truly a significant step,” he stated. “The B round would be usually where you can get your first major investment, however, the community of shareholders you put together is much more essential than the money so potential rounds are mostly from those investors.”

That investor group, he added, was “a great fit for all of us and places us in a great position, but we want to move forward.” Rob Meyerson, an operating associate at the C5 and a longstanding former president of Blue Origin, would join the board of Axiom as part of the transaction. In a comment about the investment phase, Meyerson stated, “Axiom Space is a powerhouse in the space industry and would become a cornerstone of the C5 Capital portfolio as well as strengthen our roadmap for a stable global future.”

“That Rob Meyerson is a member of C5 is awesome,” Suffredini stated. “He has this tremendous amount of knowledge. We are thrilled to have him on the team. Although Axiom’s plans to put a range of commercial platforms on the International Space Station beginning in 2024 are advanced by the funding round, which would eventually form the foundation of the standalone commercial station, Suffredini agreed that the company would need to raise more cash.

“We’re probably going to raise between $500 million to $1 billion to finally construct our space station,” he stated. The estimated cost of the project would be around $3 billion, but much of that is going to come from operating revenue.

https://testmeasurement.com.au/

Leave a Reply

Your email address will not be published. Required fields are marked *