Elon Musk’s SpaceX is set to raise up to $750 million with a new round of funding that values the rocket and satellite business at $137 billion from investors, including Andreessen Horowitz, CNBC reported on Tuesday.
There was a report that Reuters had mentioned how SpaceX was in talks about an offering of primarily non-primary stock that could raise the company’s worth of up to $150 billion, which represents a 20-per-cent boost in value.
Read Also: UK Authorities Announce A Cash Support For Low-Income Households
It is to be mentioned here that Elon Musk’s owned SpaceX, which counts Alphabet (GOOGL.O) and Fidelity Investments among its investors, had raised about $1.68 billion from equity financing in June.
Spokepersons of both companies SpaceX and Horowitz did not immediately respond to requests for comment. Horowitz was also an investor in Musk’s Twitter buyout deal with a $44 billion price tag.
Space Exploration Technologies Corporation’s (SpaceX’s) past missions have successfully sent cargo payloads, cargo, and astronauts to research facilities at the space station for NASA.
On the other hand, Starlink, SpaceX’s massive network of interconnected satellites, is exploring ways to develop huge revenue with multiple commercial applications, such as high-speed broadband connectivity on commercial vehicles.
SpaceX aims to compete with Amazon.com Inc. owner Jeff Bezos and Blue Origin magnate Richard Branson in space ventures.