Elon Musk’s reusable rocket maker and satellite internet company SpaceX is raising $750 million in a new funding round that values the company at $137 billion, according to a CNBC report.
Last month it was reported that SpaceX is allowing insiders to sell the shares at a price of $77, which would have put the company’s valuation close to $140 billion. The company has raised more than $2 billion in 2022, including a $250 million round in July, and was valued at $127 billion during a capital round in May.
According to an announcement sent to potential SpaceX investors, Andreessen-Horowitz (aka a16z) will likely lead the new funding round. SpaceX’s previous investors include Founders Fund, Sequoia, Gigafund and many others. A16z also participated in Elon Musk’s acquisition of Twitter in late October 2022 for $44 billion.
Last year, SpaceX achieved several new milestones but faced delays in its Starship program, which is part of NASA’s effort to return astronauts to the moon. The company’s Starlink satellite Internet service surpassed one million subscribers and provided a lifeline to users in Ukraine who suffered infrastructure disruptions after Russian invasion. SpaceX also managed to exceed 60 reusable rocket launches in a single year with its Falcon program. The company is currently continuing development of its Starship and Super Heavy launch vehicles at the company’s Starbase facility in Boca Chica, Texas. It is unclear when the company will move to the next phase of the program, which includes a launch test of these large vehicles on track.
While Musk has mostly dealt with geopolitical issues on Twitter, NASA Administrator Bill Nelson recently asked SpaceX President Gavin Shotwell if she thought his “distraction” as the new owner and CEO of Twitter might affect SpaceX’s work with the space agency. Nelson said Shotwell reassured him that she didn’t.
NASA is now considering whether SpaceX can help rescue residents of the International Space Station, including an astronaut and two cosmonauts. The Russian Soyuz capsule leaked coolant in December, and an in-depth investigation is underway to determine whether the spacecraft can safely return the crew home or if it will be necessary take emergency measures instead.
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