The Commercial Space Market Is Heating Up — Axiom Space Is Launching a Plan for a Space Station

By Elijah Labby Thursday, February 18, 2021

The business market for commercial space travel and technology is heating up and Axiom Space, a Houston-based space business, wants to win the race to develop the world’s first commercial space station. On Tuesday, the company raised $130 million to accelerate the process.

The funding round for the business was led by C5 Capital and included other venture capital partners like Declaration Partners, Moelis Dynasty Investments, The Venture Collective, Hemisphere Ventures, and Starbridge Venture Capital.

The idea is for the business to get the space station into orbit to serve as the place from which future space exploration — potentially to the moon, Mars, or other planets — can begin.

A satellite orbiting Earth in space.

Axiom Space — Future Business Goals

Investors in the business are excited about the possibilities for the space station company.

“The Axiom Station will be the infrastructure upon which we will build an unlimited number of new businesses in space, and it will serve as a key element of future exploration missions to the Moon, Mars, and beyond,” said Capital Operating Partner at the C5 company, Rob Meyerson.

Carol Melton, CEO of Adeft Capital, said the work of the company was an important opportunity for the space business to support life in low earth orbit and increase opportunities for women in the space business.

“As Axiom pioneers the era of true private space travel, I am excited for Adeft Capital to support their mission to enable a permanent human presence and a thriving new ecosystem of commercial activity in Low Earth Orbit,” she said. “I look forward to working closely with Axiom to develop female leadership in the space sector.”

Space business is a hot proposition for investors now — an almost unfathomable concept even ten years ago when SpaceX CEO Elon Musk was working to breathe new life into a business that was on virtual hiatus.

Luckily for the Axiom Space company and those interested in future human endeavors in space, that period seems to be over.

Just last week, SpaceX raised $850 million, raising the total valuation of the space company to $74 billion.

And according to Northern Sky Research, the business of space travel could generate as much as $7.9 billion as soon as 2030.

That’s all good news for the Axiom Space company, which is likely invigorated by the funding.

“Axiom Space was founded on the knowledge that commercial infrastructure and innovation in space would offer unique ways to improve life on Earth,” said the co-founder of the company in a press release. “...This highly successful round is a pivotal moment for on-orbit commerce and its implications for our civilization’s potential are far-reaching.”

About the Author

Headshot of Elijah Labby

Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.

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