Type to search

SpaceX raised more than it sought in first 2020 funding round

Uncategorized

SpaceX raised more than it sought in first 2020 funding round

Share


The SpaceX Falcon 9 rocket and Crew Dragon capsule stand upright on the launchpad at NASA’s Kennedy Space Center ahead of the Demo-2 launch.

SpaceX raised $346.2 million in its most recent funding round, filings with the Securities and Exchange Commission reveal.

Elon Musk’s space company on Tuesday filed an amendment to its previous funding raise, just a day before SpaceX plans to launch astronauts for the first time, in a mission called Demo-2 for NASA that is scheduled to lift off on Wednesday. The mission will be the first launch of NASA astronauts from the U.S. since 2011, with Musk and President Donald Trump planning to be there in person to watch the launch.

SpaceX’s most recent funding round means the company has raised nearly $1.7 billion since the beginning of 2019. With a valuation of around $36 billion, according to sources, SpaceX remains one of the most valuable pre-IPO companies in the world.

The company has steadily raised funding as it continues to simultaneously develop three ambitious programs: its Crew Dragon spacecraft, Starlink internet satellites and massive Starship rocket. Crew Dragon and Starship represent SpaceX’s efforts to fly people in space. But Starlink is an ambitious plan to create a global network of small satellites to provide high-speed internet to any place in the world. Known as a “megaconstellation,” Starlink is expected to consist of an interconnected system of about 12,000 satellites.

Correction: A previous version of this story misstated the total amount raised in the company’s most recent funding round.



Source link

Leave a Comment

Your email address will not be published. Required fields are marked *