Elon Musk’s SpaceX raised $ 1.68 billion in fresh financing, less than its shareholding in a closely held rocket launch and satellite company.
Hawthorn, California-based Space Exploration Technologies Corp., formally known, sold equity to a group of 74 investors by offering $ 1.72 billion in equity, the company said in a regulatory filing on Monday.
Bloomberg reported in May that SpaceX is in talks to raise $ 125 billion. This round represents a jump from a previous valuation of nearly $ 100 billion reached in one round last year.
The added funds will help SpaceX build its Starlink satellite fleet, complete its next-generation Starship spacecraft and heavy-lift rocket, and continue to employ aerospace engineering talent in the competitive industry.