Elon musk’s SpaceX is launching a $750m in a new funding round in conjunction with silicon-valley venture capital firm, Andreessen Horowitz aka a16z, which is estimated to increase the America’s largest rocket company’s valuation to $137b from $127b earlier estimated in a prior funding in July last year.
Business Insider reports: “the round will likely be led by Andreessen Horowitz, also known as , a16z, per an email reviwed by CNBC, as the famed venture capital firm reached out to prospective investors”. The report also mentions prior backers for SpaceX as including; Founders Fund, Gigafund, and Sequoia.
“Over the last 12 months, SpaceX raised more than $2 billion, including a $250 million funding round in July, when it was valued at $127 billion.
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“Bloomberg had reported in December that SpaceX was allowing shareholders to sell equity at $77 per share, which valued the company at about a $140 billion.
“Notably, a16z was also a participant in Elon Musk’s $44 billion Twitter acquisition, a deal that some Tesla investors have since lamented.
“Despite some snags in 2022, SpaceX still notched milestones, such as, its satellite internet provider Starlink surpassing 1 million subscribers. Musk also facilitated Starlink as an emergency internet provider for Ukraine citizens and soldiers amid the ongoing war with Russia.
“SpaceX, too, also had more than 60 reuseable rocket launches last year, via its Falcon program.
“Meanwhile, SpaceX launched more astronauts to the International Space Station, with NASA eyeing a large role including for a return to the moon” Business Insider reported.
Elon Musk’s SpaceX is seeking to raise $750 million in a new round of funding that values the rocket maker and satellite internet company at $137 billion, CNBC reports, citing correspondence. The funding round will likely be led by venture capital giant Andreessen Horowitz, also known as a16z, which also participated in Musk’s $44 billion Twitter buyout. Reuters reported in November that SpaceX was in talks about an offering of secondary shares that would value the company at up to $150 billion. SpaceX raised more than $2 billion in 2022 and was valued at $127 billion during a May funding round, CNBC reported. (LinkedIn News)