Axiom Space tops $525M in oversubscribed round, announces Swiss subsidiary

funding boost

Axiom Space has closed an oversubscribed $525 million round. Image via NASA

Axiom Space tacked on an additional $175 million to a previously announced capital raise, bringing the oversubscribed round to a total of more than $525 million.

Axiom shared in February that it had secured $350 million in a financing round led by Type One Ventures and Qatar Investment Authority. In the latest release from the company, Axiom reports that Japan-based MUFG Bank Ltd. joined the round as a new investor, in addition to continued participation from existing backers.

The funding will go toward developing the company's commercial space station, known as Axiom Station, and the production of its Axiom Extravehicular Mobility Unit (AxEMU) under its NASA spacesuit contract.

“Investor interest in this round outpaced what we set out to raise, which speaks to the moment we’re in,” Jonathan Cirtain, CEO and president of Axiom Space, said in the news release. “Our partners see what is possible in low-Earth orbit, and they see who is positioned to lead it.”

Axiom announced last month that it planned to open a Japanese subsidiary July 1. Earlier this week, it also shared plans to establish Axiom Space Switzerland, a wholly owned subsidiary based in Lucerne that is also expected to begin operations this summer.

The Switzerland subsidiary aims to establish Axiom's presence in Europe and help it partner with the European Space Agency and other space organizations and companies on the continent.

“Europe is a founding leader in the creation of the commercial space economy, and Switzerland is uniquely positioned to convene the government agencies, research institutions, and industrial entities that will shape its next decade,” Cirtain added in a separate release. “Axiom Space Switzerland facilitates the scaling of development and deployment of the infrastructure that will succeed the International Space Station.”

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Nokia will integrate advanced 4G/LTE communication capabilities in the Axiom Extravehicular Mobility Unit, or AxEMU, spacesuit. Photo courtesy of Axiom Space

Houston space tech co. teams up with Nokia to upgrade lunar communications

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Houston-based Axiom Space and Nokia are partnering to incorporate high-speed cellular-network capabilities in Axiom's technology.

Nokia will integrate advanced 4G/LTE communication capabilities in the Axiom Extravehicular Mobility Unit, or AxEMU, spacesuit supporting HD video, telemetry data, and voice transmission that can span over multiple kilometers on the moon. The advancement will enable Artemis III crew members to capture video and communicate with mission controllers on Earth in real-time while on the moon.

Nokia will deploy the first cellular network on the moon as part of Houston-based Intuitive Machines’ IM-2 mission. The mission is scheduled to be delivered to the launch site before the end of the year. Nokia will attempt to show how cellular connectivity can facilitate communications during lunar or Mars missions in the future. Nokia’s Lunar Surface Communications System (LSCS) is pioneered by Nokia Bell Labs’ research and innovation. It will be deployed during IM-2 and will be adapted for use in the AxEMU spacesuit.

“Just as astronauts will need life support, shelter and food, they will need advanced networks to communicate with each other and go about their crucial work,” Thierry E. Klein, president of Bell Labs Solutions Research at Nokia, says in a news release. “Bell Labs has a long history of working on space projects, and Nokia is a leader in designing and building networks that connect the world. We are taking advantage of the same standards-based technologies that connect billions of devices on Earth every day, while bringing new innovation and technologies to bear on the specific challenges encountered in space."

Axiom Space was awarded $57.5 million from NASA to make the 4G/LTE network modification to the lunar spacesuit for the Artemis III mission, which builds upon its first Artemis task order in 2022 that is valued at $228 million. Axiom Space’s spacesuits provide astronauts with capabilities for space exploration while providing NASA with commercially developed human systems necessary for life and communications on the moon.

“Axiom Space is excited to work with Nokia to build on the advanced capabilities of our next-generation spacesuit,” Russell Ralston, Axiom Space executive vice president of extravehicular activity, adds. “Adding high-speed 4G/LTE network capability on the Moon will serve as a vital bridge linking astronauts to Earth, facilitating crucial data exchange, and enabling high-definition video communication over long distances.”

Axiom Space has announced plans for its third commercial space launch and revealed details of its high-tech spacesuit. Photo courtesy of NASA

Houston space tech company secures third NASA mission, reveals new spacesuits

ready for liftoff

A Houston-based space tech company has revealed details on two of its commercial partnerships with NASA.

NASA and Axiom Space have again signed a mission order for a private astronaut mission to the International Space Station. The mission will commence sometime in November or on and will be from the agency’s NASA’s Kennedy Space Center in Florida. Axiom Mission 3 is the third mission of its kind and, according to a statement from NASA, is expected to be a 14-day trip.

The ISS's Multilateral Crew Operations Panel will approve four proposed crew members and two back up crew submitted by Axiom for the Ax-3 mission. The crew will be expected to train for their flight with NASA, international partners, and SpaceX beginning this spring, according to NASA.

“Axiom Space’s selection to lead the next private astronaut mission to the International Space Station enables us to continue expanding access to nations, academia, commercial entities, and emerging industries to research, test, and demonstrate new technologies in microgravity,” says Michael Suffredini, CEO and president of Axiom Space, in the release. “As NASA’s focus shifts back to the Moon and on to Mars, we are committed to transforming low-Earth orbit into a global space marketplace, where access to space moves beyond the partners of the space station to nations, institutions and individuals with new ideas fueling a thriving human economy beyond Earth.”

Axiom's historic first commercial launch was in spring of 2022, and Ax-2, which will launch the first Saudi astronauts to visit the ISS, is expected to launch this spring. In addition to these two missions, Axiom has been tasked by NASA to develop spacesuits and space station technology.

After several months of working on the suits, Axiom has revealed the details of the technology that will be worn by NASA astronauts returning to the moon on the Artemis III mission that's scheduled to land near the lunar south pole in 2025.

The newly revealed spacesuit will be worn by the first woman and first person of color to visit the moon. Photo courtesy of Axiom Space

“We’re carrying on NASA’s legacy by designing an advanced spacesuit that will allow astronauts to operate safely and effectively on the Moon,” says Suffredini in a statement from the company. “Axiom Space’s Artemis III spacesuit will be ready to meet the complex challenges of the lunar south pole and help grow our understanding of the Moon in order to enable a long-term presence there.”

Called the Axiom Extravehicular Mobility Unit, or AxEMU, the prototype was revealed at Space Center Houston’s Moon 2 Mars Festival today, March 15. According to Axiom, a full fleet of training spacesuits will be delivered to NASA by late this summer.

At the same time as the Ax-3 mission announcement, NASA also announced that it has selected Firefly Aerospace of Cedar Park, Texas, to carry multiple payloads to the far side of the Moon. According to NASA, the commercial lander will deliver two agency payloads, as well as communication and data relay satellite for lunar orbit, which is an European Space Agency collaboration with NASA.

The contract — awarded for around $112 million — is targeted to launch in 2026 through NASA’s Commercial Lunar Payload Services, or CLPS, initiative, and part of the agency’s Artemis program. It's the second award to Firefly under the CLPS initiative.

“The diversity of currently available commercial orbital human spaceflight opportunities is truly astounding. NASA’s commercial crew flights to the space station for our government astronauts paved the way for fully private missions to space like Inspiration4 and Polaris as well as private astronaut missions to the orbiting laboratory like the one we are announcing today,” says Phil McAlister, director of commercial space at NASA Headquarters in Washington, in the release. “We are starting to see the incorporation of space into our economic sphere, and it is going to revolutionize the way people see, use, and experience space.”

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Houston space companies take off with new tech, deals and contracts

space update

Space City has had a busy month.

Houston-based aerospace institutions Venus Aerospace, Axiom Space, and Aegis Aerospace have each recently announced advancements in their respective fields that include expansions and new contracts from U.S. and international government agencies.

Here’s the latest:

Venus launches new test stand

Earlier this month, Venus Aerospace added infrastructure to support the ongoing progress of its Rotating Detonation Rocket Engine (RDRE) with the opening of its new propulsion test stand at the Houston Spaceport.

The Texas Space Commission's Space Exploration and Aeronautics Research Fund is funding the test stand, which is part of a larger effort from the state to increase investments in the aerospace economy. The ribbon-cutting event on Sept. 10 welcomed officials from Venus Aerospace, the Texas Space Commission, the Houston Spaceport, Houston business and local community leaders.

With the new stand, Venus will be able to test at higher thrust and for longer durations, which will allow the company to better replicate real-life conditions.

"Building and testing propulsion systems at this pace requires the right infrastructure around the technology," Sassie Duggleby, CEO and co-founder of Venus Aerospace, said in a news release. "We're grateful to the Texas Space Commission and the State of Texas for investing alongside companies like Venus. Public investment like this helps companies move faster and keeps critical aerospace capability growing here in Texas."

Venus closed a $91 million Series B in July and expanded its leadership team.

Axiom partners in Europe

Axiom Space has signed a memorandum of understanding with the European Space Agency for “sustained European access to low-Earth orbit (LEO)” following the retirement of the International Space Station, according to a news release from the company.

Under the agreement, Axiom and the ESA agreed to explore future astronaut missions on the ISS and Axiom Station, research, transportation and spacesuit partnerships. The organizations will explore using the ESA’s European Cargo Return service and potentially a future European crew vehicle to support operations at Axiom Station, the company's forthcoming commercial space station. The partnership could also involve Axiom's AxEMU spacesuit for orbital and lunar applications, according to the release.

“With the upcoming de-orbitation of the ISS, it is our duty to anticipate and prepare future solutions to ensure our access to low-Earth orbit,” Daniel Neuenschwander, director of human and robotic exploration at ESA, said in the release. “The two documents signed today underline both our commitment to safeguard our ability to pursue in-orbit science and to keep offering flight opportunities to our European astronaut corps, as well as the growing interest of international partners for our ongoing project to develop an autonomous European cargo vehicle.”

The announcement comes as Axiom has made several international moves this year. The company shared plans to establish Axiom Space Switzerland this summer and launched Axiom Space Japan in July.

"The path to a sustainable human presence in space runs through international collaboration — reliable supply chains, shared innovation, and partners who bring real capability," Jonathan Cirtain, CEO and President of Axiom Space, said in the release. "Europe's contributions to microgravity science and deep space technology make ESA exactly that kind of partner. This MoU strengthens our work together, and we look forward to ESA and its member states joining us as customers for future astronaut missions."

Aegis expands DoW deal

Webster, Texas-based Aegis Aerospace announced that it has won a new task order to continue supporting the U.S. Space Force’s Space Test Program.

The contract starts in October and covers designing, building, testing and operating Department of War payloads or equipment on NASA, government, and commercial launch vehicles and platforms. The contract was issued by the USSF Space Systems Command, Space Test Program under NASA Johnson Space Center’s Research, Engineering, and Mission Integration Services 2 (REMIS 2).

Currently, the company is working on three payload facilities on the ISS and has plans for two more in development.

“Aegis Aerospace is grateful to continue our exceptional payload integration support to the USSF and the STP to meet their critical mission objectives,” President Matt Ondler added in the release. “This work is more important than ever to maintain U.S. superiority in space. This new contract will take us beyond the current life of the ISS and see us integrate and test payloads on commercial space stations, free-flyers, and cislunar missions.”

10 Houston billionaires land on Forbes' 2026 list of richest Americans

America's Richest

The richest billionaires in America have a collective worth of $8 trillion in 2026, a staggering $1.4 trillion increase since last year, says Forbes. American billionaires are so wealthy that it now takes an unprecedented $4.4 billion net worth to be considered one of the richest people in the country. And one local billionaire has regained the title as Houston's wealthiest resident.

Oil tycoon Jeffery Hildebrand, 67, now reigns as the No. 1 richest Houstonian, the 9th richest Texan, and the 88th richest person in America for 2026.

The annual Forbes 400 list is a definitive ranking of the wealthiest Americans, using interviews, financial data, and documentation provided by billionaires and their companies. In all, 43 billionaires across Texas made it on the 2026 list, and 10 are based in Houston.

Hildebrand's net worth has surged $4.7 billion since last year, bringing his current net worth to $14.7 billion. He cofounded Hilcorp, one of the largest privately owned oil and natural gas producers in the U.S., in 1990 and served as its CEO until 2018. He still serves as the chairman of the company.

Hildebrand skyrocketed past several other Houston billionaires to claim the top spot citywide: Kinder Morgan chairman Richard Kinder, Toyota mega-dealer Dan Friedkin, and hospitality honcho Tilman Fertitta.

Kinder, 81, was dubbed Houston's richest billionaire in the 2025 Forbes 400 list, whose net worth has increased from $11.1 billion to $12.9 billion in just one year. He is the 11th richest Texan and the 100th richest person in America.

Friedkin, 61, is the third-richest Houstonian and the 102nd richest American with an estimated net worth of $12.9 billion, up from $9.7 billion last year. He most notably owns Gulf States Toyota, which sold $14.5 billion worth of Toyotas in 2025, per Forbes.

The Friedkin family is also in talks to launch a new NHL team in Texas, with Houston and Austin being eyed as potential home bases, CultureMap reports. Bringing a professional hockey team to Houston would be a major boon for the city, which has been without one since the Houston Aeros folded in 2013.

Fertitta, 69, has a net worth of $12.3 billion and is the fourth richest Houstonian and the 110th richest American. Fertitta owns hospitality corporation Fertitta Entertainment and the NBA team Houston Rockets. He most recently purchased the WNBA's Connecticut Sun and plans to relocate them to Houston under the Houston Comets name in 2027. He also keeps himself busy as President Trump's ambassador to Italy.

There's also one new Houston-based billionaire making his debut on the Forbes 400: Houston Texans owner and CEO Cal McNair.

McNair, 64, took over as the principal owner of the NFL team after his late mother, Janice McNair, transferred her principal stake to him in 2024. Janice, who cofounded the Texans with her late husband Bob McNair, passed away in July 2026. She previously had an estimated net worth of $7.3 billion.

Cal McNair ranks as the 218th richest person in America with an estimated net worth of $7.7 billion.

Here's how the rest of Houston's billionaires fared on this year's list:

Houston pipeline heir Randa Duncan Williams ranks 124th with an estimated net worth of $11.7 billion. Fellow pipeline heirs Dannine Avara and Milane Frantz tie for 128th nationally. Each has an estimated net worth of $11.6 billion. Scott Duncan ties for No. 137 with an $11.3 billion estimated net worth.
Energy exploration chief exec George Bishop of The Woodlands ranks No. 380 with an estimated net worth of $4.5 billion. Last year: $4.7 billion.

Texas' richest billionaires
Walmart heiress Alice Walton, 76, who currently leads as the richest woman globally, is also the richest woman in America, the third-wealthiest person in Texas, and the richest Fort Worth resident for 2026.

Walton's net worth has grown by $12 billion since last year, bringing her current net worth to $118 billion. She is the only daughter of late Walmart cofounder Sam Walton, though she focuses her attention on other endeavors like the Crystal Bridges Museum of American Art and the Alice L. Walton School of Medicine in Bentonville, Arkansas. Forbes still lists her residence as Fort Worth. Walton is one of only 62 women billionaires on the Forbes 400 list, making up just 16 percent of the total list.

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This article first appeared on CultureMap.com.

3 Houston children's hospitals ranked best in the nation by U.S. News

Hospital Honor Roll

Houston has many renowned hospitals providing exceptional care, and now three local medical centers have earned national acclaim for their top-notch healthcare for children and adolescents.

Texas Children's Hospital, Children's Memorial Hermann Hospital, and Children's Cancer Hospital-MD Anderson Cancer Center are the three local pediatric care centers named in U.S. News and World Report's 2026-2027 Best Children's Hospitals.

Each year, U.S. News surveys over 100 children's hospitals and thousands of pediatric specialists to determine it's Best Children's Hospitals rankings. The winning hospitals excel at various factors such as "clinical outcomes, compliance with established best practices, and level and quality of hospital resources directly related to patient care."

Out of the 90 total children's hospitals selected across 34 states and Washington, D.C., only six were based in Texas.

"For two decades, U.S. News has helped guide families to top-tier pediatric care," said Ben Harder, chief of health analysis and managing editor at U.S. News, in a release. “Finding the right medical team for a rare diagnosis or complex surgery can be overwhelming, and U.S. News’ annual evaluation of the Best Children’s Hospitals provides a clear starting point for parents and referring pediatricians alike."

Texas Children's Hospital reigns as the No. 1 pediatric hospital in the Lone Star State and in the Southwest, and it was the only Texas hospital to be named in U.S. News' national Best Children's Hospitals Honor Roll list for 2026-2027.

Texas Children's also leads as the No. 1 best hospital in the U.S. in two pediatric specialties — Cardiology and Heart Surgery; Diabetes and Endocrinology. It earned top-five acclaim in seven more nationally ranked specialties: Nephrology (No. 2); Pulmonology and Lung Surgery (No. 2); Urology (No. 2); Neurology and Neurosurgery (No. 3); Gastroenterology and GI Surgery (No. 5); Neonatology (No. 5); and Orthopedics (No. 5).

The hospital also ranked as the country's 12th best pediatric cancer hospital, and it's one of the top 50 Best Children's Hospitals for Behavioral Health in the U.S.

Children's Memorial Hermann Hospital is the No. 3 best pediatric hospital in Texas for 2026-2027, and it earned top-50 ranks in seven specialties:

No. 12 – Cardiology and Heart Surgery
No. 26 – Neonatology
No. 28 – Gastroenterology & GI Surgery
No. 34 – Neurology and Neurosurgery
No. 40 – Orthopedics
No. 50 – Nephrology
"Top 50" Best Children's Hospitals for Behavioral Health

MD Anderson's Children's Cancer Hospital was unranked in the statewide list of the best pediatric care centers. It ranked as the No. 33 best pediatric cancer hospital in the U.S.

Other high-performing Texas pediatric hospital include Children's Health Dallas, Dell Children's Medical Center in Austin, and Cook Children's Medical Center in Fort Worth.

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