SpaceX To Raise $750 M In Funding Round


Elon Musk’s SpaceX is raising $750 million in a new round of funding valued at $137 billion from investors including Andreessen Horowitz, according to media reports.

According to Reuters, SpaceX was in talks in November about an offering of mostly secondary shares that could value the company at up to $150 billion, representing a 20 per cent increase in valuation.

In June, SpaceX, which counts Alphabet Inc and Fidelity Investments among its investors, raised approximately $1.68 billion in equity financing. SpaceX and Horowitz representatives did not immediately respond to Reuters’ requests for comment. Horowitz was also a co-investor in Musk’s $44 billion Twitter buyout.

For the National Aeronautics and Space Administration, SpaceX has launched numerous cargo payloads and astronauts to the International Space Station (NASA). Starlink, SpaceX’s expanding network of thousands of internet satellites, is aiming to generate significant revenue through commercialised applications such as the deployment of high-speed internet on commercial airlines.

SpaceX competes with Blue Origin, the space venture of founder Jeff Bezos, and Virgin Galactic, the space venture of billionaire Richard Branson.

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