Space tourism is getting a boost.
Axiom Space, which flies both private and government missions, secured “hundreds of millions” in additional investment this week at a $2 billion valuation, sources told me — with the goal of exponentially scaling their footprint in space and creating the world’s first commercial space station.
Since launching in Texas in 2016, the company has flown 700 people to low-orbit and the International Space Station but they plan to ramp that up to more than 1,000 per year in the next few years with the aim of flying to the moon and even Mars down the line. Axiom also has a multi-billion dollar contract to design space suits for NASA astronauts on missions to ISS and the moon.
The round, led by 1789 Capital and Type One Ventures, allows Axiom to expand its offerings to customers. It’s building the first permanent commercial space station, with reusable spaceships that fit 12 to 24 people each. It also launched a collaboration with Prada for custom-made space suits for all fliers while Apple is making special watches for the flights.
Axiom also work with space agencies across the globe and flown astronauts from more than a dozen countries ranging from Saudi Arabia to Hungary.
While four citizens paid $55 million each to be part of a trip to the ISS in 2021, Axiom believes the cost could come down to the hundreds of thousands as space tourism expands.
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As part of the agreement, Chris Buskirk, co-founder of 1789 Capital—the investment firm led by Omeed Malik, where Donald Trump Jr. serves as a partner—will join the board. 1789 capitalizes on opportunities skipped over by woke investors who prioritize investing in companies promoting environmental, society and governance issues, known as ESG investing.
After SpaceX, Axiom Space is furthest along in commercializing space with billions in revenue and committed contracts.
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[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
