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 recent funding round, 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 earlier than SpaceX plans to launch astronauts for the primary time, in a mission referred to as Demo-2 for NASA that’s scheduled to elevate 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 look at the launch.

SpaceX’s most recent funding round means the corporate has raised practically $1.7 billion for the reason that starting of 2019. With a valuation of round $36 billion, according to sources, SpaceX stays one of many most worthwhile pre-IPO corporations in the world.

The firm has steadily raised funding because it continues to concurrently develop three bold packages: its Crew Dragon spacecraft, Starlink web satellites and large Starship rocket. Crew Dragon and Starship symbolize SpaceX’s efforts to fly individuals in area. But Starlink is an bold plan to create a world community of small satellites to supply high-speed web to anywhere in the world. Known as a “megaconstellation,” Starlink is anticipated to encompass an interconnected system of about 12,000 satellites.

Correction: A earlier model of this story misstated the whole quantity raised in the corporate’s most recent funding round.

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