Axiom Space raises $350 million from Saudi and Korean investors

• Space company Axiom raised $350 million in a round that was led by Saudi-owned Aljazira Capital and Korean health-care investment firm Boryung.
• The Houston-based company currently flies private and government astronauts on missions to the International Space Station via launches with SpaceX.
• It's developing technologies including a commercial space station and a lunar spacesuit and has more than $2 billion in customer contracts to date.

Chief Engineer Jim Stein wears the new spacesuit during the Axiom Space Artemis III Lunar Spacesuit event at Space Center Houston in Houston, Texas, on March 15, 2023. - "Since a spacesuit worn on the Moon must be white to reflect heat and protect astronauts from extreme high temperatures, a cover layer is currently being used for display purposes only to conceal the suits proprietary design, " Axion said in a press release.

Mark Felix | Afp | Getty Images

Space company Axiom raised $350 million in a round that was led by Saudi-owned Aljazira Capital and Korean health-care investment firm Boryung, the company announced Monday.

Houston-based Axiom trains and flies both private and government astronauts on missions to the International Space Station via launches with SpaceX. It's developing human spaceflight technologies including a commercial space station and a lunar spacesuit.

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The company said the investment will further its development efforts. It has more than $2 billion in customer contracts to date, Axiom said Monday. It's flown two crews to the ISS, including the recently completed Ax-2 mission, and is working to launch its first space station module by 2026.

In a statement, Aljazira Capital managing director and CEO Naif Almesned said backing Axiom is "in line with the Saudi Vision 2030's transformative approach."