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Axiom Space Raises $350M in Series-C Round

Axiom Space
Aljazira Capital CEO Naif AlMesned and Axiom Space CEO Michael Suffredini. Credit: Axiom Space

Ibadan, 22 August 2023. – Axiom Space has announced that it secured $350 million in its Series-C growth funding round, lifting the total funds it raised to over $505 million from investors and achieving more than $2.2 billion in customer contracts.

Aljazira Capital and Boryung Co., Ltd. led the round, with support from various backers, including deep-tech venture capital funds and strategic brand partners. This consequently positions the Company as second to SpaceX for the most amount of money raised by a private space company in 2023, based on available pitchbook data.

Axiom Space CEO and president Michael Suffredini said, “Together, we are working to serve innovators in medicine, materials science, and on-orbit infrastructure who represent billions of dollars in demand over the coming decade. We are building on the legacy of the International Space Station, leveraging the pillars that were constructed in low-Earth orbit more than two decades ago, to now support a burgeoning global space economy.”

Likewise, Naif AlMesned, CEO and managing director of Aljazira Capital, said, “We believe in the importance of innovation in various sectors and across various markets. In line with the Saudi Vision 2030’s transformative approach, we acknowledge the need for technology for the advancement of human life. To that end, we are excited to support Axiom Space along its journey of building for beyond.”

Aljazira Capital highlighted that it has a profound interest in advancing new technologies and fostering innovation in diverse markets. Its portfolio includes investments in many exciting technology-driven ventures, with a distinct focus on enabling businesses that impact society.

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