The investment round was led by AJC – a leading investment platform and a major financial powerhouse in Saudi Arabia, licensed by the Capital Market Authority and owned by Bank Al Jazira, and Boryung – South Korea’s leading healthcare investment company committed to the space healthcare industry.

The transaction positions Axiom Space as second to SpaceX for the most amount of money raised by a private space company in 2023, based on available pitchbook disclosed funding round data.

Axiom Space is a leading provider of human spaceflight services and developer of human-rated space infrastructure in the US. Axiom Space operates end-to-end missions to the International Space Station today while developing its successor, Axiom Station – the world’s first commercial space station in low-Earth orbit, which will sustain human growth off the planet. Axiom Station’s first module is under construction and is scheduled to launch to the ISS by 2026. Additional modules will follow to build out Axiom Station, which will be ready to separate from the ISS and operate independently, in support of customers around the world, by 2031 when NASA plans to retire the ISS.

The transaction follows on from AJC’s investment in Floward’s USD156m Series C Pre-IPO investment round, which Allen & Overy also advised on.

Corporate Partner Ben Ward, who led the cross border Allen & Overy team commented: “We are delighted to have advised AJC as anchor investor on such a significant transaction, aligned to Saudi Arabia’s Vision 2030 transformative economic program. Axiom Space are adopting new technology towards the advancement of human life to support the global space economy, a sector which will continue to be a crucial element to supporting global and regional economic expansion. We are one of very few firms that are able to support investors across all disciplines required for such a transaction, demonstrating the depth and breadth of our “on-the-ground” specialists, international technology practice and strong US capabilities.”