Elon Musk’s SpaceX raises $750 million (about Rs.6,200 billion) in a new round of funding that values the rocket and satellite company at $137 billion (about Rs.11,33,800) from investors including Andreessen Horowitz, CNBC reported late Monday .
Reuters reported this in November SpaceX was in talks of an offering of mostly secondary shares, which the company would value at up to $150 billion (approx.
SpaceX what matters alphabet and Fidelity Investments among its investors, had raised about US$1.68 billion (roughly Rs. 13,900 crore) through equity financing as of June.
Spokespersons for SpaceX and Horowitz did not immediately respond to Reuters requests for comment. Horowitz was also a co-investor musk Twitter buyout deal valued at US$44 billion (approx. Rs.3,64,260).
SpaceX has sent numerous cargo payloads and astronauts into space International Space Station for the National Aeronautics and Space Administration (NASA).
StarlinkSpaceX’s growing network of thousands of internet satellites aims to generate big revenue from commercialized applications such as the rollout of high-speed internet to commercial airlines.
SpaceX competes with Amazon founder jeff bezos space company Blue Origin and billionaire Richard Branson Virgo Galactic.
In November the time had come reported that SpaceX bought an advertising package Twitter for its Starlink satellite Internet service. Elon Musk, who owns the rocket company and social media platform that is experiencing an exodus of advertisers, said the ad package was bought to test the effectiveness of Twitter advertising in Australia and Spain.
© Thomson Reuters 2023
Join us for the latest from the Consumer Electronics Show on Gadgets 360 CES 2023 hub.
