Elon Musk’s SpaceX raises over $337 million in fresh funding

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(Reuters) – Billionaire Elon Musk’s SpaceX has raised $337.4 million in fairness financing, the rocket firm disclosed in a regulatory submitting on Wednesday.

SpaceX, which counts Alphabet Inc and Fidelity Investments amongst its buyers, hit $100 billion in valuation following a secondary share sale in October, in line with CNBC. It had raised about $1.16 billion in fairness financing in April.

SpaceX didn’t instantly reply to Reuters request for extra particulars on the newest funding spherical.

The firm competes with former Amazon.com Chief Executive Jeff Bezos’s house enterprise Blue Origin and billionaire Richard Branson’s Virgin Galactic in the burgeoning constellation of economic rocket ventures.

All three rocket corporations have efficiently launched civilians into house.

According to Morgan Stanley, the house financial system might be value $1 trillion by 2040.

Musk, who additionally leads a number of futuristic corporations together with Tesla Inc, Neuralink and Boring Co, mentioned earlier this yr that SpaceX will probably be touchdown its Starship rockets on Mars nicely earlier than 2030.

SpaceX has already launched quite a few cargo payloads and astronauts to the International Space Station for the National Aeronautics and Space Administration (NASA).

(Reporting by Chavi Mehta in Bengaluru; Editing by Shinjini Ganguli)



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