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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NASA unveils Artemis III astronauts at Johnson Space Center in Houston

To the moon

NASA on Tuesday, June 9, revealed the crew for its Artemis III mission, the next step in the space agency's plan to eventually land astronauts on the moon.

The announcement came two months after Artemis II's record-breaking trip around the moon that surpassed the distance record of Apollo 13.

NASA's Randy Bresnik, Frank Rubio, Andre Douglas and the European Space Agency's Luca Parmitano won't fly to the moon or land on the surface. Instead, they’ll orbit Earth while practicing docking their Orion capsule with two lunar landers.

“To the Artemis III crew, we wish you Godspeed on the journey ahead,” said NASA administrator Jared Isaacman.

Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin are racing to deliver the lunar landers. The two-week demo is targeted for 2027. Blue Origin suffered a recent setback when its massive rocket exploded during an engine-firing test on the launch pad in Florida, shaking nearby homes and illuminating the sky with an orange fireball.

NASA's Jeremy Parsons said the setback is a learning opportunity and that the space agency is confident Blue Origin's rocket will be ready in time.

NASA's Artemis program aims to return astronauts to the moon's surface for the first time since the 1970s. A recent revamp of the program announced by Isaacman aims to fast-track it similarly to the Apollo era, adding the upcoming spaceflight around Earth before eyeing a lunar landing in 2028.

“We are certainly humbled as a crew to be able to be your crew that executes this Artemis III mission in space,” said Bresnik, Artemis III commander.

Added Douglas, mission specialist: “My brain — it is going a mile a minute right now. But my heart, it is so warm. It is so full."

In May, NASA awarded hundreds of millions of dollars in contracts to four companies, including Blue Origin, to build landers, rovers and drones for a future moon base. Isaacman said the goal of the moon base is to lay the foundation for a Mars expedition.

Meta to bring $115 million AI data center training initiative to Houston

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Meta and Associated Builders and Contractors have entered into a partnership to invest $115 million in training programs for the construction of AI data centers, with a portion of the project launching in Houston.

The companies announced June 8 that they would open America’s Workforce Academies at ABC chapter training centers in Houston; Indianapolis; Baton Rouge, Louisiana; and Columbus, Ohio.

The academies will offer career readiness and safety training, plus five weeks of hands-on education. Participants who complete the program will be granted a job offer from contractors working on Meta projects.

“The AI revolution is bringing change but also historic opportunities,” Dina Powell McCormick, Meta president and vice-chairman, said in a news release. “Skilled workers electrified rural America one pole at a time. They manned the factories that built the arsenal that won World War II. Now a new generation will pour the foundations and lay the fiber that secures American strength in this new age.”

Overall, the Meta and ABC aim for the academies to build a more sustainable pipeline of skilled construction workers and ensure safety and job readiness for the surging number of data center projects underway.

“This new program is an innovative talent solution that is a critical part of addressing the construction industry’s ongoing workforce shortage and creates an accelerated, new-entrant strategy for job seekers ... The sustained demand for data center construction technicians means the industry needs an all-of-the-above approach to address this shortage and grow the construction talent pool,” Michael Bellaman, ABC president and CEO, added in the release.

In Texas, Meta, the parent company of Facebook and Instagram, has launched or broken ground on data centers in El Paso, Fort Worth and Temple. The company announced in March that it planned to grow its El Paso Data center by 1 gigawatt, representing more than a $10 billion investment.

Apart from Meta, Texas has attracted data center development to power other giants like Google and Amazon in recent years. In turn, Texas has been predicted to become the biggest data center market. Commercial real estate services provider JLL reported this spring that the state could topple Northern Virginia as the world’s largest data-center market by 2030. Similarly, CBRE predicted that Houston's data center capacity could double by 2028. Read more here.

New Houston biotech co. lands $30M for pulmonary fibrosis drug

drug money

Most of us can claim a scar or two on our bodies. But when scarring develops inside the body, it’s known as a fibrotic disorder. A freshly launched Houston company, Oorja Bio Inc., is working on a treatment that can help to repair cells and reduce the damage wrought by the growth of fibrotic tissue in patients.

Late last month, Oorja Bio hit the scene with a pair of big announcements. Not only has the company raised a $30 million Series A thanks to founding investor California-based Westlake BioPartners, but it has also already paved the way for a Phase 2 study to take place this year.

Oorja Bio received Investigational New Drug (IND) clearance from the U.S. Food and Drug Administration (FDA), allowing the company to test its treatment in patients with idiopathic pulmonary fibrosis (IPF), a scarring of the lung tissue. IPF affects more than 150,000 adults in the United States and can result in a range of symptoms from shortness of breath to organ failure and death as it progresses.

Oorja Bio’s lead drug candidate, ORJ-001, was shown in a Phase 1 in-human trial to demonstrate “therapeutically relevant exposure and favorable tolerability” in 64 healthy adult volunteers in whom it was administered daily or weekly, according to a news release. Pre-clinical studies of ORJ-001 showed durable target tissue engagement and biomarker activity in bleomycin-induced lung fibrosis.

Administered subcutaneously, ORJ-001 is intended to improve and even restore function in cells that can reduce the signaling that causes IPF. It stops advancement of IPF and also allows for tissue repair. Currently available treatments for the disease can slow the development of IPF down, but do not address the declining lung function that’s inherent in its progression.

“The clinical and preclinical results from our studies to date give us confidence that ORJ-001 represents a novel treatment approach with the potential to repair and reverse fibrosis and modify disease progression in IPF,” Dr. Janethe Pena, CMO of Oorja Bio, said in the release.

“Our team is energized to deliver on our goal of redefining the future of fibrotic diseases, beginning with ORJ-001,” CEO and founder Sujay Kango added. “As we advance ORJ-001 in the clinic, we are embracing the paradigm shift in our biological understanding of IPF pathology that aligns with the central role of the alveolar epithelium. ORJ-001 was designed with this biology in mind and may provide, for the first time, a therapeutic intervention that repairs and reverses fibrosis and promotes disease modification.”

Most patients live only three to five years following their IPF diagnosis. Soon, ORJ-001 and Oorja Bio could give them a fighting chance.

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