Elon Musk’s SpaceX Raises $750 Mn in Funding, at Valuation of $137 Bn 

Elon Musk’s commercial rocket company SpaceX has raised $750 million in its latest funding round led by the venture capital firm Andreessen Horowitz, who also invested in Musk’s $44 billion buyout of Twitter, according to the report by CNBC.

However, there is no official confirmation from SpaceX or the investors.

The latest funding of SpaceX put the SpaceTech startup’s valuation at $137 billion, an increase from the $127 billion that SpaceX was valued at in May 2022, when it raised around $1.7 billion.

The funding comes at time when Elon Musk comes under pressure from shareholders as Tesla’s stock price falls almost 70% in 2022.

The funds raised is expected to help push forward on development of the Starship program, which is expected be used to launch the first manned mission to Mars.

In November last year, SpaceX was in talks about an offering of mostly secondary shares that could value the company at up to $150 billion, representing a 20% increase in valuation.

In June, SpaceX raised about $1.68 billion through equity financing.

Last year, SpaceX carried out 61 launches of its Falcon reusable rockets while its satellite internet service crossed 1 million subscribers.

Last month, the U.S. Federal Communications Commission (FCC) granted approval to launch up to 7,500 of SpaceX’s next-generation satellites in its Starlink internet network.