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Elon Musk’s SpaceX Raises $750M in New Funding Round at $137B Valuation: Report

Elon Musk’s SpaceX Raises $750M in New Funding Round at $137B Valuation: Report

Elon Musk's SpaceX Raises $750M in New Funding Round at $137B Valuation: Report

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Elon Musk’s SpaceX raises $750 million (about Rs 6,200 crore) in a new funding round that values ​​the rocket and satellite company at $137 billion (about Rs 11.33,800 crore) rupees) from investors including Andreessen Horowitz, CNBC reported Monday night.

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Reuters had reported in November that SpaceX was in talks on a mostly secondary stock offering that could value the company up to $150 billion (about Rs. 12,41,800 crore), representing a 20% increase in the valuation.

SpaceX, which counts Alphabet and Fidelity Investments among its investors, had raised about $1.68 billion (around Rs 13,900 crore) through equity financing in June.

Spokespersons for SpaceX and Horowitz did not immediately respond to Reuters requests for comment. Horowitz was also a co-investor in Musk’s Twitter takeover deal worth $44 billion (about Rs 3,64,260).

SpaceX has launched numerous cargo payloads and astronauts to the International Space Station for the National Aeronautics and Space Administration (NASA).

Starlink, SpaceX’s growing network of thousands of internet satellites, seeks to generate significant revenue with commercialized applications such as the deployment of high-speed internet on commercial airlines.

SpaceX competes with Amazon founder Jeff Bezos’ space venture Blue Origin and billionaire Richard Branson’s Virgin Galactic.

In November, it was reported that SpaceX purchased a Twitter ad package for its Starlink satellite internet service. Elon Musk, owner of the rocket company and social media platform which is experiencing an exodus of advertisers, said the advertising package was purchased to test the effectiveness of Twitter advertising in Australia and Spain. .

© Thomson Reuters 2022


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