Sunday, February 28, 2021

SpaceX reportedly raises $850M in new funding – TechCrunch

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SpaceX has raised a fresh round of funding, totalling $850 million, per a new report by CNBC, citing sources “familiar” with the matter. The new capital brings the total valuation of the company, which is still privately-held, to around $74 billion according to the report.

This is a massive round, by most standards – but not by SpaceX’s own. The space launch company, which was founded in 2002, has raised a total of over $6 billion to date including this latest injection, with a $2 billion venture round raised last August. That funding was invested at a valuation of $46 billion, meaning the company’s value, at least in the eyes of private investors, leapt considerably in the six months separating the two raises.

SpaceX has accomplished a lot between now and then, including building its Starlink broadband constellation to more than 1,000 active satellites; launching its first operational NASA crew to the International Space Station aboard a Dragon spacecraft; launching not one, but two high-altitude flight tests of its Starship spacecraft with relatively good results; and launched its first dedicated rideshare mission, demonstrating the viability of a big potential new group of launch customers.

While the company has achieved a lot on the back of its existing capital, its recent successes no doubt provided a good base to go out and get more. That’s likely going to go to good use, since it has plenty of work yet to do, like continued develop of Starship to prove out its space-worthiness, and the capital-intensive activity of building Starlink into a true, globe-spanning network.



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