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SpaceX raises $346 million in most recent funding round

The SpaceX Falcon 9 rocket and Crew Dragon capsule stand upright on the launchpad at NASA’s Kennedy Space Center forward of the Demo-2 launch.

SpaceX raised $346.2 million in its most up-to-date funding spherical, filings with the Securities and Exchange Commission reveal.

Elon Musk’s area firm on Tuesday filed an modification to its earlier funding increase, only a day before SpaceX plans to launch astronauts for the first time, in a mission known as Demo-2 for NASA that’s scheduled to carry off on Wednesday. The mission would be the first launch of NASA astronauts from the U.S. since 2011, with Musk and President Donald Trump planning to be there in particular person to observe the launch.

SpaceX’s most up-to-date funding spherical means the corporate has raised almost $1.7 billion for the reason that starting of 2019. With a valuation of round $36 billion, according to sources, SpaceX stays one of the priceless pre-IPO firms on this planet.

The firm has steadily raised funding because it continues to concurrently develop three formidable applications: its Crew Dragon spacecraft, Starlink web satellites and large Starship rocket. Crew Dragon and Starship symbolize SpaceX’s efforts to fly folks in area. But Starlink is an formidable plan to create a worldwide community of small satellites to offer high-speed web to anyplace on this planet. Known as a “megaconstellation,” Starlink is predicted to encompass an interconnected system of about 12,000 satellites.

Correction: A earlier model of this story misstated the entire quantity raised within the firm’s most up-to-date funding spherical.

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