SpaceX, Elon Musk’s reusable rocket builder, and satellite internet company is raising $750 million in a fresh round of fundraising that values the company at $137 billion.
Bloomberg originally reported last month that SpaceX was enabling insiders to sell at $77 per share, putting the company’s capitalization near $140 billion. According to CNBC, the company raised more than $2 billion in 2022, including a $250 million round in July, and was valued at $127 billion at an equity round in May.
The fresh fundraising round is led by Andreessen Horowitz (commonly known as a16z). Founders Fund, Sequoia, Gigafund, and others were among the early SpaceX investors.
Last year, SpaceX achieved numerous new milestones, but its Starship mission, which is part of NASA’s effort to return men to the moon, was delayed.
On the plus side, the company’s satellite internet service, Starlink, surpassed one million customers and provided a lifeline to consumers in Ukraine who experienced infrastructure interruptions as a result of Russia’s invasion. Through its Falcon program, SpaceX also managed to achieve 60 reusable rocket launches in a single year.
The Starship and Super Heavy launch vehicles are currently being developed at the company’s Starbase facility in Boca Chica, Texas. It is unclear when the corporation will proceed to the next stage of the program, which would include an orbital launch test of these larger vehicles.