Boryung Corporation is a South Korean healthcare investment company that has expanded its business into the space industry. Recognizing the importance of human health in space, Boryung focuses on space healthcare, investing in companies like Axiom Space and Intuitive Machines. They established a joint venture with Axiom Space called BRAX Space Corporation to explore business opportunities related to the Axiom Station and develop space-based healthcare products and services, and have partnered with organizations like Redwire and Litegrav to promote space bioscience research through initiatives like the Humans In Space program.
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Axiom Space previously raised $350 million in August 2023 in a financing round co-led by Aljazira Capital and Boryung Co.
Redwire Corporation signed a memorandum of understanding with Boryung Corporation on 2024-04-24.
Ryan Lee joined Boryung in 2023 and leads Boryung’s Strategic Operations Group, which is responsible for investment review, finance, accounting, and legal affairs.
Ryan Lee joined Boryung in 2023 and leads Boryung’s Strategic Operations Group responsible for investment review, finance, accounting, and legal affairs.
Axiom Space raised $350,000,000 in a funding round led by Aljazira Capital of Saudi Arabia and Korean healthcare firm Boryung.
Boryung disclosed in December 2022 that it had invested $50,000,000 into Axiom Space.
Boryung previously invested $10,000,000 in Axiom Space, disclosed in a 2022-05-16 regulatory filing, which gave Boryung a 0.4% stake in Axiom Space.
Boryung will invest $50,000,000 in Axiom Space’s Series C funding round.
Boryung will take a 2.28% stake in Axiom Space by 2022-12-30 in exchange for the $50,000,000 investment.
Boryung reported 627.3 billion won in sales in 2021 and an operating profit of 41.4 billion won in 2021.