SpaceX raises $750 million in new funding with a valuation of $137 billion: Report
SpaceX had a prior valuation of $127 billion after raising $1.7 billion in May 2022
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SpaceX, the aerospace-rocket company owned by billionaire Elon Musk, has reportedly raised $750 million during its latest round of funding, with a valuation of approximately $137 billion, according to a new report.
As Tesla's stock price continues to drop and turmoil surrounds Twitter amid the Musk buyout, SpaceX has received a fresh round of funding led by venture capital firm Andreessen Horowitz, according to a report from CNBC.
Moreover, Andreessen Horowitz is one of the original investors of Musk's $44 billion buyout of Twitter earlier last year. SpaceX did not respond to did not immediately respond to Fox Business for a request for comment.
In May 2022, SpaceX earned a prior valuation of $127 billion after receiving a $1.7 billion round of new funding. Musk, who recently lost his title as the world's richest human, has used SpaceX to launch satellites and equipment into space.
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SpaceX, owned by billionaire Elon Musk, has reportedly raised over $750 million in new funding. ((Photo by JIM WATSON/AFP via Getty Images) / Getty Images)
Other media reports from December alleged that SpaceX was giving investors the green light to sell at $77 per share, which would total the company's value at around $140 billion.
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Recently, SpaceX received approval from the Federal Communications Commission for its pitch to launch approximately 7,500 satellites into Earth's orbit. Musk has stated publicly that the ultimate goal of SpaceX is to return astronauts to the moon.
Additionally, the company's satellite internet constellation service, Starlink, accumulated 1 million subscribers in 2022, with customers in over 45 countries.