A report from CNBC had claimed that the Elon Musk led space company-SpaceX raised $850mn. While SpaceX continues to remain silent on the topic, a filing with U.S Securities and Exchange Commission (SEC) that was published today has confirmed the freshly raised $850 million, as SpaceX continues to finance capital heavy projects.
According to a report, the forerunner in the investors was Sequoia, as it wrote the largest check, with the valuation of $420/share. This makes the firm’s total investment into SpaceX $600 million, which includes both this funding and the capital raise from 2020. Other investors included Valor Equity Partners, Coatue Management, D1 Capital Partners and Fidelity Investments.
It is unusual for Sequoia Capital to invest so much into a single company. According to Bloomberg, it is possible that one of the partners of the firm had a long back relationship with CEO Elon Musk. While both the companies have declined to comment, anonymous sources have said that Sequoia is particularly interested in SpaceX’s Starlink endeavor. As the capital gnawing project has already been launched to more than 10K consumers in the States, Canada, and U.K, the investment firm is enthusiastic about its potential.
According to CNBC, the total new money now available to SpaceX is not far from the $2 billion that it had raised in the funding round from last year. The exact figure tallies up to $1.6 billion, which includes the $750 million that comes with the secondary sale of existing shares.
While this may seem like a large amount of money to hold, it is not unusual for SpaceX. The company is currently pursuing a lot of ambitious projects which need a huge capital. Apart from Starlink, this also includes its Starship rockets, of which there have been two test runs so far to no avail (both exploded during landing).
Of course, the California based company was founded with the aim of building a human colony on Mars, another objective in which Sequoia seems interested. These ‘skyrocketing’ aims and ambitions about which investors seem to be very enthusiastic about, is what has made Elon Musk one of the richest people in the world, rivalling Jeff Bezos, founder Amazon.
