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Elon Musk’s SpaceX bags USD 1.1 billion in an equity financing round

SpaceX

Source: HIGHXTAR.

Elon Musk’s SpaceX is one of the most futuristic companies of all time. The space exploration start-up by billionaire philanthropist Elon Musk, SpaceX has recently announced to have raised USD 1.16 billion in its latest private equity round over the last two months, as reported by Reuters. This information was mentioned by SpaceX in its amended regulatory filing.

As the industry knows about the repeated failure of the SpaceX Starship rocket that has been blowing up in the sky like fireworks from three iterations. In February this year, SpaceX Starship Rocket named SN9 blew up ending Musk’s dream to successfully exit the Earth’s orbit. The SN9 was no different than SN8, both of these Starships blew up making all efforts in vain. However, the SpaceX Starship rocket SN9 was a test model being developed by the company to carry around 100 tons of Cargo and humans on future missions to Mars and Moon, as reported by Reuters.

Founded back in 2002 by Elon Musk, the aerospace and aviation company is known for designing, manufacturing and even launching advanced rockets and spacecraft into space.

According to the company profile on Crunchbase, earlier this year in February, SpaceX raised USD 850 million in Venture Round led by Space Angels. Existing investors of the company include Fidelity Investments, Alphabet Inc., Republic Labs, Bracket Capital, Legendary Ventures, ACE & Company, Pegasus Tech Ventures and NASA among a few others. The February infusion of USD 850 million that SpaceX raised was reported to escalate the company’s post-funding valuation to USD 74 billion.

As mentioned in a report by PitchBook, a financial data provider, Elon Musk’s Private Space Company, SpaceX had raised its largest single fundraising round worth USD 1.9 billion last year in August by Legendary Ventures.

However, SpaceX was reportedly under investigation last month by the United States House of Representatives Transportation and Infrastructure Committee for allegedly violating the United States safety requirements and test license, according to Reuters.

Elon Musk is known for his futuristic vision when it comes to mankind and technology. The Man is the leader behind several other companies including Neuralink, Boring Co. and Tesla Inc. In recent events, Neuralink made an exceptional advancement in its technology where through a brain insertion of the ‘Link’, a Rhesus monkey was able to move the cursor in the ping pong game with only his mind and no hand gesture of any kind. This was a successful experiment whose advancements could lead to several medical and health benefits, like empowering paralysed people with only-brain control.

On the other hand, SpaceX is on to something and hopefully, before 2030, the company would be landing its Starship rockets on Mars.

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