SpaceX PULLED $1.9 BILLION SEEN AS ITS LARGEST FUNDING ROUND TILL DATE
‘Elon Musk’ space program SpaceX pulled $1.9 billion in its latest funding round, a development filed with the SEC but first figured out by Reuters. Although earlier reports from Bloomberg had it that the company is in the funding process, however, following the money raised, SpaceX post-money valuation is now pegged at $46 billion.
It’s understood the latest development from Elon Musk-led private company isn’t a surprise, based on the fact that SpaceX has been seeking funds since early 2020, meanwhile, Bloomberg had it that the company increased the size of the investment it was seeking due to strong demand emerging from the investment community.
As we know, the company is in no doubt well-positioned than ever to have raised such funds from investors, noting SpaceX high-profile achievements recently recorded as a potential source. The latest round of funds witnessed overwhelmed reports, while on the other hand, detailed information about investors that participated in the round was not confirmed, yet Bloomberg reports claimed Fidelity Investments participated as one of the largest investors but didn’t confirm this.
Elon’s determination to complete the first-ever private human spaceflight mission from the U.S. seems his core priority, with Demo-2 mission, which took off from Florida in May and successfully returned to Earth earlier this month after it transported astronauts from the International Space Station, it’s evident, investors gave it their best with SpaceX pulling $1.9 billion in a single raise. However, Demo-2 success meant the subject company has now been positioned to offer transportation services to and from the International Space Station. Based on this, the latest puts SpaceX closer to offering its first intent of commercial spaceflight services to private tourists, researchers, and other categories.
Looking at SpaceX achievement, it’s also understood the company has made tremendous progress on its Starship spacecraft development program, which saw successful short test flight of the prototype, and as a result, SpaceX secured several multi-year contracts from NASA and the U.S. government for launch services.
In addition to that, it’s also evident, the current fund could be directed to its capital-intense project aimed at deploying Starlink spacecraft that it will own and operate, designed to offer commercial and residential broadband internet services to customers in difficult and less accessible locations once it becomes operational. While the later would require a good number of Starlink satellites launch before the company can achieve its objective of global coverage.
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