Axiom Space Raises $525 Million With MUFG Bank as New Investor

Axiom Space announced that it had secured roughly an additional $175 million from investors, bringing the startup’s most recent fundraising round to more than $525 million as it works to develop a commercial space station.

Co-founded by billionaire Kam Ghaffarian, Axiom Space is among several firms competing to build a commercial replacement to the International Space Station, which is set to be decommissioned by 2030.

Texas-based Axiom Space is also working with fashion company Prada SpA to develop spacesuits for NASA.

The funding round includes new backer MUFG Bank Ltd., Japan’s largest bank, along with existing investors, according ...