SpaceX Raises USD 1.9 Billion; Equity Valuation at USD 46 Billion

SpaceX Raises USD 1.9 Billion; Equity Valuation at USD 46 Billion

The funding comes as SpaceX races to build out its Starlink satellite constellation to offer broadband internet commercially by the end of 2020. The company launched its eleventh batch of satellites on Tuesday and operates over 600 satellites in low-Earth orbit.

Fremont, CA: Billionaire Elon Musk owned SpaceX raised USD 1.9 billion as part of its second capital raise since the beginning of 2020. According to an August 18 filing with the U.S. Securities and Exchange Commission, nearly 75 equity investors participated in the company's investment round. SpaceX is also selling USD 165 million in common stock as part of the round, taking the final amount to USD 2.07 billion. This would make it the single largest funding round by the company to date. The investment also takes the private rocket company to an equity valuation of USD 46 billion.

The funding comes as SpaceX races to build out its Starlink satellite constellation to offer broadband internet commercially by the end of 2020. The company launched its Top 10 Space Tech Solution Companies - 2020eleventh batch of satellites on Tuesday and operates over 600 satellites in low-Earth orbit. The company's Crew Dragon capsule completed its first two-month mission carrying astronauts for NASA to the International Space Station in early August. The company is aiming to start routine crewed missions to the International Space Station in late October.

Earlier in May, the company raised at least USD 346 million, after increasing the ceiling from a February round to USD 350 million from USD 250 million. None of those SEC disclosures were filed at the end of SpaceX's fundraising rounds. If both rounds are funded to completion, then SpaceX will have raised USD 2.41 billion. The company's most recent investment round follows two high profile successes with the U.S. government.

In May, the company launched astronauts Douglas Hurley and Robert Behnken to the International Space Station for NASA using a Crew Dragon spacecraft atop a Falcon 9 rocket. The mission, called Demo-2, was the first astronaut launch from U.S. soil in about nine years. Earlier this month. The company beat its competitors Blue Origin and Northrop Grumman in a competition to launch military satellites for the Pentagon from 2022 to 2027. SpaceX and United Launch Alliance will launch up to 34 missions for the Defense Department under the National Security Space Launch Phase 2 Launch Service Procuremen

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