Categories LATEST

SpaceX to raise $500-million funding from its existing shareholders and a Tesla investor

Elon Musk’s SpaceX is ready to raise $500 million through funding, making the rocket company’s valuation increase to $30.5 billion, according to WSJ. The report added that this funding will be raised from the company’s existing shareholders and Baillie Gifford & Co, Tesla’s (TSLA) third largest shareholder.

SpaceX $500 million funding
Falcon 9 at Vandenberg Air Force Base Image Courtesy: SpaceX

SpaceX plans to utilize the funding amount to invest in Starlink, the company’s project to provide the globe with high-speed broadband internet via a network of satellites. In November, SpaceX got the approval from the US regulators to launch more than 7,000 satellites, which are designed to provide broadband internet connections.

According to Crunchbase, the Hawthorne, California-based company had raised $250 million in November through a debt financing in which Bank of America (BAC) was the lead investor and SpaceX has raised a total of $2.2 billion in funding over 17 rounds as of November 2018. Google and Fidelity had invested in SpaceX in January 2015 through a Series G funding.

Elon Musk’s two biggest ambitions at SpaceX

After Tesla reported its third quarter earnings in October, the Scottish private equity firm Baillie Gifford stated that it would invest more money into Tesla if CEO Elon Musk requires it.

It’s worth noting that SpaceX scrubbed its GPS launch Tuesday morning. The GPS, which was scheduled to launch at 9:30 AM ET, was halted a few minutes before the launch. SpaceX tweeted that the hold was due to an out of family reading on first stage sensors and the launch is scheduled on Wednesday morning.


Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference, and much more!


Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

One thought on “SpaceX to raise $500-million funding from its existing shareholders and a Tesla investor

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment

Viewing Highlight