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

Skip Navigation Axiom Space raises $350 million backed by Donald Trump Jr.’s firm, Qatar fund Livestream CREATE FREE ACCOUNT Markets Business Investing Tech Politics Video Watchlist Investing Club PRO Livestream Menu Key Points Houston-based Axiom Space, which makes spacesuits for NASA and is building a successor to the International Space Station, has raised $350 million. Qatar’s sovereign wealth fund and 1789 Capital, where Donald Trump Jr. is a partner, were investors in the round. Investors have been pouring money into space technology amid a renewed push for growth as Elon Musk’s SpaceX looks set for a potential IPO later this year 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. Courtesy of KBR and Axiom Space 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. Read more CNBC tech news Salesforce shares slip after the company calls for single-digit full-year revenue growth EA to lay off 5% of workforce, or about 670 employees Coinbase users see $0 balance after crypto-trading app suffers glitch Last month, NASA awarded the Houston-based company its fifth private astronaut mission, slated to launch as soon as January 2027. NASA is emerging from a messy transition period following Trump’s 2024 election victory during which the agency saw a leadership shakeup and faced dramatic workforce cuts. Jared Isaacman, an Elon Musk ally, was finally appointed to lead the agency in December, more than a year after the president first nominated him to the role. The president previously revoked his nomination for Isaacman due to concerns over his political affiliations. In the interim, Transportation Secretary Sean Duffy temporarily oversaw NASA. Duffy faced harsh criticism from Musk in October after the transportation chief told news outlets that SpaceX was behind on its U.S. moon missions and that NASA would consider other contracts. NASA’s Artemis missions have also hit some snags. In 2024, the agency pushed back launches for its 2026 and 2027 moon trips due to safety and technical concerns. One of those problems included issues with the spacesuits. Cirtain said Thursday that the company is “currently on schedule” to deliver its spacesuits to NASA by 2027. “We’re taking a multifaceted approach to making sure that development is completed on time,” he said. Axiom Space did not disclose the valuation at which it raised funds. watch now VIDEO4:3304:33 Data centers in space will be ‘front and center’ for investors in next 12-24 months: BofA’s Obin The Exchange Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news. WATCH LIVESTREAMPrefer to Listen? NOW Shark Tank UP NEXT Shark Tank TRENDING NOW U.S. says it may be forced to shut down some airports over funding standoff More than 576,000 student loan borrowers in backlog for affordable repayment plans: Court filing Japan exports beat forecasts with 4.2% growth in February, but shipments to China and U.S. slump Cardiologist: 7 things I never do after 7 p.m.—after 20 years of treating heart attacks The Fed issues its latest interest rate decision Wednesday. Here’s what to expect This site is now part of Versant. By continuing, you agree to our Terms. 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