Axiom Space and KBR successfully completed the first uncrewed thermal vacuum test of the Axiom Extravehicular Mobility Unit (AxEMU), which is designed to support astronauts during the Artemis III mission – the first crewed lunar landing in more than 50 years.
Axiom Space, which provides suits for NASA's moon missions and is building a successor to the International Space Station, has raised $350 million, the company said Thursday.
Both the Qatar sovereign wealth fund and Type One Ventures led the round, with participation from Hungary-based IT company 4iG and 1789 Capital, where Donald Trump Jr. is a partner.
CEO Jonathan Cirtain told reporters on Thursday that Axiom Space, which is valued at more than $2.5 billion according to Pitchbook, plans to use the funding on spacesuit capabilities and modules one and two for its commercial space station.
"This financing reflects continued strong institutional and strategic investor conviction in Axiom Space's leadership position," said Cirtain, who took the helm of the company in October.
The company's latest funding round arrives during a critical time for space technology. More investors have flocked to the sector as excitement builds into SpaceX's potential mammoth IPO later this year.
Efforts by President Donald Trump to re-industrialize U.S. defense systems and return U.S. astronauts to the moon for the first time in 50 years have also fueled enthusiasm.
Over the years, Axiom Space has worked closely with SpaceX to launch both private and government astronauts to the ISS, ahead of its 2030 retirement.