SpaceX raises an extra $100m
November 29, 2017
By Chris Forrester
Elon Musk’s SpaceX rocket company has raised $100 million in fresh funding, according to a regulatory filing made on November 27th.
An earlier cash-raising exercise this summer for the privately-held company raised $350 million. The amended (to include the new $100 million) Series H financing round includes 25 unnamed investors and values SpaceX at $21.5 billion.
Elon Musk, via his family trust, controls – as at last week – 78 per cent of the Voting shares of the company, and 54 per cent of the equity.
It is not yet clear whether the cash is going to be used on SpaceX’s rocket-building division or for its ‘Starlink’ project to launch a total of 11,000 small satellites to girdle the Earth with broadband.