Elon Musk-led SpaceX raises $1.16 billion in equity funding

Bengaluru: Billionaire Elon Musk‘s SpaceX has raised about $1.16 billion in equity funding over the last two months, the private rocket company said in an amended regulatory filing on Wednesday.

The filing comes after SpaceX, whose investors include Alphabet Inc. and Fidelity Investments, in February disclosed that it raised about $850 million, which had reportedly lifted its valuation to about $74 billion. The private space company had raised $1.9 billion in August in its largest single funding round, according to financial software and data provider PitchBook.

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In February, a prototype of SpaceX’s Starship rocket, SN9, blew up on its final descent, like SN8 before it. The SN9 was a test model being developed to carry humans and 100 tons of cargo on future missions to the moon and Mars.

Following this, the US House of Representatives Transportation and Infrastructure Committee said it was investigating a SpaceX commercial space launch that regulators determined violated US safety requirements and its test licence.

Elon Musk, who also leads several futuristic companies, including Tesla Inc., Neuralink and Boring Company, had last month said that SpaceX will be landing its Starship rockets on Mars well before 2030.


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