SpaceX has raised $850 million in an equity funding round last week, according to a report by CNBC. This recent funding has skyrocketed-or space rocketed if you will- the company’s valuation to $74 billion.
According to said report and its anonymous sources, the company only raised a portion of funding available in the market, as it had received insane demands of people willing to invest over $6 billion in just over three days.
This round projects a massive 60% jump in the company’s valuation (from the last round in August), which shows investors eagerness to have a part of SpaceX’s latest endeavors.
Starlink- the satellite constellation internet is undoubtedly an attractive magnet for investors, as the service is already in beta and has the potential to go global. Moreover, with Inspiration4 missions right around the corner, now is as good a time as ever to get a piece of what can possibly become the biggest space company in the world-private or public.
SpaceX has clearly shown it worthiness over the last six months, from Starlink and Starship missions, to announcing the first-ever all civilian space mission, as well launching the first operational NASA crew to International Space Station. SpaceX is emerging as one of the biggest names in the world, and might soon become a rival to its sister company-Tesla, even though there is about a 10x gap in their valuations at the moment.
This recent influx of funds would also make it easier for the company to continue and take on more of its ever-ambitious projects. As Elon musk commented, Starlink itself will cause a ‘year of negative cash flow’ to go public, as well as its Starship rockets will require constant testing and failure to become another of its reusable rocket systems. Moreover, it was projected that building the Starlink constellation can cost up to $10 billion, so SpaceX can use all the money it can get.
