SpaceX Raised USD 1.9 Billion In Its Latest Funding

Elon Musk-led private rocket company SpaceX has raised USD 1.9 Billion in its latest funding, as per the regulatory filing which was first reported by Reuters. The new funding has capitulated the company’s valuation at USD 46 Billion, according to Bloomberg. Further, the company is selling USD 165 Million in common stock, according to the filing which made it total funding of USD 2.07 Billion.

Even though the funding came out a surprise for many, Bloomberg News reported last week that SpaceX seeking investment in the company. However, it didn’t confirm about Fidelity Investments, one of the existing investors, to be the largest fundraiser in the participation round. According to the U.S. Securities and Exchange Commission, 75 investors made equity investments in the company. Data from the Pitchbook states that it’s the single largest funding for the company until now.

Earlier this month, the 18-years old company bagged a USD 316 million contracts from the U.S. government to launch national security missions from the year 2022 to 2027. Along with them, United States Alliance, backed by Lockheed Martin and Boeing also won a USD 337 million contract.

In May 2020, SpaceX raised USD 346 Million just a day before its debut Astronaut mission which was in collaboration with NASA’s Kennedy Space Center. The mission named Demo-2 took off the astronauts from the U.S. soil after nine years. They returned to the earth this month after validating the SpaceX crew transportation system. This successful launch has paved the way for the company to provide future commercial flight services to NASA.

SpaceX is planning to use the funds for the commercial operations for the Starlink broadband service. Moreover, it would help the company to conduct orbital and suborbital test flights of its Starships and SuperHeavy booster launch machine. Earlier this month, the space corporation launched the latest batch of Starlink satellites which constituted 57 satellites and two hitchhiking spacecraft.

After the launch of 57 Starlink broadband satellites, SpaceX launched another batch of satellites with the help of the same Falcon 9 rocket on Tuesday. Until now, this rocket has boosted three Starlink missions and two commercial satellite delivery missions while the latest flight mission would sum up its sixth mission. Talking about the failures, the company has lost four Starlink prototypes in failures.

Advertisment

Last week, NASA announced in its blog that SpaceX and they are targeting for the first operational flight. The blog stated that Crew-1 will launch in late October “to accommodate spacecraft traffic for the upcoming Soyuz crew rotation and best meet the needs of the International Space Station.”

In the first week of August, SpaceX performed a successful “hop test” on its SN5 prototype which is speculated to carry astronauts to Mars one day. When fully developed, the Starship spacecraft and Super Heavy rocket would be able to carry around 100 people for the ride around Earth’s orbit, Moon, and even Mars. After the successful 150m hop test, Starship (SN6) is preparing for a similar test in the coming years. Elon Musk noted that there will numerous hop tests for the efficient launch sequence. The latest SN6 prototype is expected to pass various tests which include cryo testing.