Axiom Space: Leading Space Infrastructure Developer
📄Company Profiles
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Axiom Space.
In the emerging private spaceflight industry, many players such as SpaceX, Blue Origin, and Virgin Galactic were involved in building launch vehicles or rockets. But quite a few companies focused on providing human spaceflight services for people, corporations, and space agencies.
That is when Axiom Space thought of targeting this particular market segment. The United States-based company is known for arranging 'private astronaut' missions to the ISS. To learn more about Axiom Space, consider going through the article. Let's discover the company's founders, startup story, products, business model, funding, growth, and more.
Axiom Space – Company Highlights
| Company Name | Axiom Space |
|---|---|
| Headquarters | Houston, Texas, United States |
| Sector | Aerospace |
| Founders | Michael T. Suffreini and Kam Ghaffarian |
| Founded | 2016 |
| Valuation | $1 billion (2021) |
| Website | Axiomspace.com |
Axiom Space – About
Axiom Space – Industry
Axiom Space – Founders and Team
Axiom Space – Startup Story
Axiom Space – Mission and Vision
Axiom Space – Business Model
Axiom Space – Products and Services
Axiom Space – Funding and Investors
Axiom Space – Growth
Axiom Space – Social Media Presence
Axiom Space – Partners
Axiom Space – Awards and Achievements
Axiom Space – Competitors
Axiom Space – Future Plan
Axiom Space – About
Axiom Space is a private space habitat company developing space infrastructure and providing human spaceflight services. The company owns, builds, and operates commercial space station modules connected to the ISS (International Space Station). It plans human spaceflight for government-funded and commercial astronauts engaged in in-space research, manufacturing, and exploration.
Axiom Space – Industry
The aerospace industry is all about manufacturing and selling aerospace equipment and aircraft, undertaking aircraft maintenance, repair, and overhaul services, and product support and auxiliary equipment, including air traffic control towers, radar, and satellites. The industry's global market size is forecasted to reach $442.25 billion in 2026 from $271.76 billion in 2022 at a CAGR of 12.9%.
The pandemic created plenty of uncertainties in the aerospace industry, including lost revenues, loss of staff, and upset customers. However, post-pandemic, the overall economic growth of emerging economies, along with rising disposable income, are positively impacting the demand for air travel.
The Boeing Company, Safran SA, Airbus Group SE, Raytheon Technologies Corporation, and Royce Holdings plc are some competitive companies in the aerospace industry.
Axiom Space – Founders and Team
Michael T. Suffredini and Kam Ghaffarian are the co-founders of Axiom Space.
Michael T. Suffredini
Michael T. Suffredini attended The University of Texas at Austin to complete B.Sc. in BS, Aerospace Engineering. He is the ex-Manager of the International Space Station Program at NASA. Currently, Suffredini is the Co-founder, President, and CEO at Axiom Space.
Kam Ghaffarian
Kam Ghaffarian completed his B.Sc. in BS, Engineering from The Catholic University of America and a Master's in Information Technology from The George Washington University. He is known for co-founding and founding multiple leading companies, including Emerging Light Foundation, Limitless Space Institute, Intuitive Machines, X-energy, IBX, Gratia, Quantum Space, and Axiom Space.
At present, Ghaffarian is the Executive Chairman of Emerging Light Foundation, Limitless Space Institute, Intuitive Machines, X-energy, Quantum Space, and Axiom Space. In addition, he is the CEO of IBX.
Axiom Space is a team of 790 employees.
Axiom Space – Startup Story
Michael T. Suffredini, CEO of Axiom Space, worked as the program manager for International Space Station from 2005 to 2015. After Suffredini and Kam Ghaffarian retired from NASA, they came together to commence Axiom Space to target the emerging commercial spaceflight market.
The Axiom Station was designed in 2018. It's in 2022 that the company achieved a historic milestone by completing its first-ever private astronaut mission to the ISS.
The company entered into a contract with SpaceX on March 2020 to fly commercial astronauts to the ISS via Crew Dragon and Falcon 9, scheduled for March 2022. The Axiom Mission 1 (Ax-1) was launched on April 8, 2022, and the crew returned on April 25, 2022.
Moreover, Axiom Space received a NASA contract worth $140 million to provide at least one habitable spacecraft to attach to the ISS. In February 2023, the company announced its Ax-2 crew, a second all-private mission to the ISS. NASA selected Axiom Space for its third private astronaut station mission one month later.
Pratyusha Srivastava
Axiom Space – Mission and Vision
Axiom Space's mission is to create a thriving home in space, benefitting every human everywhere.
Axiom Space – Business Model
Axiom Space simplifies access to the International Space Station (ISS) for research and in-space manufacturing. In addition, the company constructs the world's first commercial space station as a platform that a global user base can use. Thus, it offers full-service solutions to access the Low Earth Orbit now and in upcoming years.
Furthermore, Axiom Space arranges so-called 'private astronaut' missions to the ISS, including training for at least seventeen weeks and custom itineraries based on individual goals for government-funded or commercial space trips.
Axiom Space – Products and Services
Axiom Space offers access to multiple services, including Human Spaceflight, Exploration Systems (for space agencies), Mission to ISS (for innovators), and Research and Manufacturing (for private astronauts). Additionally, the company provides AxEMU (Axiom Extravehicular Mobility Unit) spacesuit.
Axiom Space – Funding and Investors
In 6 funding rounds, Axiom Space raised a total of $432 million. On December 22, 2022, the company conducted its latest funding round - Series C Round and raised $110 million. 27 organizations and individual investors fund Axiom Space, including Boryung Pharmaceutical, Drake Management, TQS Advisors, Jesse Robbins, Bossanova Investimentos, and Hemisphere Ventures.
| Date | Round | Number of Investors | Money Raised | Lead Investor |
|---|---|---|---|---|
| December 22, 2022 | Series C | 1 | $110 million | Boryung Pharmaceutical |
| January 1, 2022 | Convertible Note | - | $172 million | - |
| February 16, 2021 | Series B | 20 | $130 million | C5 Capital |
| December 31, 2019 | Series A | 7 | $7 million | - |
| August 15, 2018 | Series A | 5 | $5 million | - |
| January 15, 2016 | Seed Round | 1 | $8 million | IBX |
Axiom Space – Growth
In 2021, Axiom Space's post-money valuation stood at $1 billion. Moreover, the company's team size increased from 110 employees in 2021 to 790 employees in 2023, with a growth of around 618%.
Axiom Space – Social Media Presence
Axiom Space has increased online visibility by regularly posting its mission updates on multiple social media profiles, thus driving more and more followers.
Purbalee Dutta
Axiom Space – Partners
Axiom Space has partnered with leading organizations, and these are:
- Art Blocks
- Build-A-Bear
- Fisher Pens
- Jose Andres & Think Food Group
- Loro Piana
- Omega
- Timeshifter
Axiom Space – Awards and Achievements
In 2023, Axiom Space is honored to be named by Fast Company in the Top 50 World's Most Innovative Companies list.
Axiom Space – Competitors
Some direct competitors of Axiom Space are:
- SpaceX
- Blue Origin
- QinetiQ
- Gilmour Space Technologies
- Airbus OneWeb Satellites
- NanoRacks
- Space Adventures Ltd.
- Moon Express Inc.
Axiom Space – Future Plan
Operating its commercial space station is the long-term goal of Axiom Space. Ax-3 and Ax-4 missions will launch in November 2023 and mid-2024, respectively. In addition, the company plans to launch two pressurized modules and attach them to the ISS by 2025. And those modules would detach themselves and become a free-floating Axiom Station on ISS decommission in 2030.
FAQs
What does Axiom Space do?
Axiom Space is a private space habitat company developing space infrastructure and providing human spaceflight services. The company owns, builds, and operates commercial space station modules connected to the ISS (International Space Station).
Who are the founders of Axiom Space?
Michael T. Suffredini and Kam Ghaffarian are the co-founders of Axiom Space.
Where is Axiom Space headquartered?
Axiom Space is headquartered in Houston, Texas, United States.
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