International law firm Allen & Overy (A&O) has provided legal counsel to Aljazira Capital (AJC) as the anchor investor in Axiom Space’s latest funding round, raising USD350 million in Series C funding. Axiom Space, a pioneering Houston-based company dedicated to constructing the world’s inaugural commercial space station, led this investment round.
The Series C investment was spearheaded by AJC, a Saudi Arabian investment platform renowned for its financial prowess, and Boryung, a South Korean healthcare investment firm focusing on the space healthcare sector.
This strategic transaction has positioned Axiom Space as the second-highest recipient of private space company funding in 2023, trailing only behind SpaceX, according to publicly available data from pitchbook disclosed funding rounds.
Axiom Space is a 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.
This recent venture follows AJC’s previous participation in Floward’s USD156m Series C Pre-IPO investment round, where A&O also offered legal guidance.
Corporate Partner Ben Ward (pictured), 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.”