SpaceX Raises $1.16 Billion In Equity Funding

Elon Musk, who also heads multiple futuristic companies, including Neuralink, Tesla Inc., and Boring Company, had last said in March this year that SpaceX will be landing the Starship rockets on Mars well before 2030.

Billionaire Elon Musk’s company SpaceX, a private rocket company has raised $1.16 billion in equity funding across the previous two months. SpaceX already has some big players as investors including Fidelity Investments and Alphabet Inc. In February the company disclosed that it has raised $850 million, which has increased its valuation to about $74 billion. The private space company had raised $1.9 Billion in August 2020, in what is believed to be its single largest funding round, according to PitchBook, a financial software and data provider.

SN9, a prototype of SpaceX’s Starship rocket blew up in February, on its final descent, like the SN8 before it. The SN9 was a test model for future missions to Moon and Mars, being developed to carry humans and about 100 tons of cargo. Following this incident, the US House of Representatives Transportation and Infrastructure Committee got to investigating a SpaceX commercial space launch, that regulators believed with certainty it was violating US safety requirements.

Elon Musk, who also heads multiple futuristic companies, including Neuralink, Tesla Inc., and Boring Company, had last said in March this year that SpaceX will be landing the Starship rockets on Mars well before 2030.

Source: Business World