Space company Axiom raises $350 million backed by Qatar fund, Trump Jr.'s firm

Axiom Space, the company focused on designing suits for NASA's lunar missions and developing a successor to the International Space Station (ISS), has successfully raised $350 million, as announced on Thursday. The funding round was co-led by the Qatar sovereign wealth fund and Type One Ventures, with additional support from Hungary-based IT firm 4iG and 1789 Capital, where Donald Trump Jr. serves as a partner. Jonathan Cirtain, the CEO of Axiom, revealed that the company, now valued at over $2.5 billion according to Pitchbook, intends to allocate the funds towards enhancing its spacesuit technology and developing the first two modules of its upcoming commercial space station. "This financing underscores the strong belief among institutional and strategic investors in Axiom Space's leading role in the industry," Cirtain stated. This latest funding comes at a pivotal moment for the space sector, as investor interest surges, particularly in light of the anticipated massive IPO of SpaceX later this year. Additionally, efforts by former President Donald Trump to revitalize U.S. defense technology and send astronauts back to the moon for the first time in half a century have contributed to the growing excitement. Axiom has partnered closely with SpaceX to facilitate the launch of both private and government astronauts to the ISS ahead of its planned retirement in 2030. Recently, NASA awarded Axiom its fifth private astronaut mission, expected to take off as early as January 2027. As NASA navigates a tumultuous transition period following Trump's 2024 election win—characterized by leadership changes and significant workforce reductions—the agency has seen challenges arise. Jared Isaacman, an ally of Elon Musk, was appointed to lead NASA in December, over a year after his initial nomination. This nomination faced complications due to political concerns, leading to interim oversight by Transportation Secretary Sean Duffy. Duffy faced backlash from Musk last October after suggesting that SpaceX was falling behind on its lunar missions, which prompted NASA to explore other contractual options. The Artemis missions have also experienced delays, with NASA postponing launches for its 2026 and 2027 moon missions due to safety and technical issues, including concerns about spacesuit readiness. Cirtain assured that Axiom is on track to deliver its spacesuits to NASA by 2027, emphasizing a comprehensive strategy to meet development timelines.