SpaceX raises $750 million at $137 billion valuation, a16z invests

Reusable rocket maker and Elon Musk’s satellite internet company SpaceX is raising $750 million in a new round of funding that values ​​the company at $137 billion, according to correspondence obtained by CNBC.

Last month, The Wall Street Journal reported that SpaceX allowed insiders to sell for $77 per share. share, which would have taken the company’s valuation to nearly $140 billion. The company has raised more than $2 billion by 2022, including a $250 million seed round in July, and was valued at $127 billion in a seed round in May, CNBC previously reported.

According to an email sent to potential SpaceX investors, Andreessen Horowitz (also known as a16z) is likely to lead the new round of funding. The company previously backed SpaceX along with Founders Fund, Sequoia, Gigafund and others.

A16z also participated in Elon Musk’s leveraged buyout of Twitter, a $44 billion deal that closed in late October 2022.

SpaceX and a16z did not immediately respond to a request for comment.

Last year, SpaceX hit several new milestones but faced delays in its Starship program, which is part of NASA’s effort to return astronauts to the moon.

In contrast, the company’s satellite Internet service, Starlink, surpassed one million subscribers, providing a lifeline to Ukrainian users hit by infrastructure disruptions following the Russian invasion. SpaceX has also managed to exceed 60 reusable rocket launches in a single year through its Falcon program.

The company currently continues development of its Starship and Super Heavy launch vehicles at the company’s Starbase facility in Boca Chica, Texas. It is unclear when the company will move on to the next phase of the program, which involves an orbital launch test of these larger vehicles.

While Musk has repeatedly addressed geopolitical issues on Twitter, NASA Administrator Bill Nelson recently asked SpaceX President and COO Gwynne Shotwell if his “distraction” as the new owner and CEO of Twitter could affect SpaceX’s work with the space agency. That was reported by NBC News. Nelson said Shotwell assured him not.

NASA is now investigating whether SpaceX can help rescue residents of the International Space Station, including an astronaut and two cosmonauts with Russia’s Roscomos, according to CNET. Russia’s Soyuz capsule suffered a coolant leak in December, and an investigation is underway to determine whether the spacecraft can safely bring the crew home, or whether emergency measures must be taken instead.

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