Advanced Television

SpaceX raises extra $750m

January 4, 2023

By Chris Forrester

SpaceX has raised a reported $750 million (€706.7m) in a new funding round. The move values the business at a spectacular $137 billion.

The new cash has come from a series of investors, reports CNBC, including private equity venture capital outfit Andreessen-Horowitz, which was founded by Marc Andreessen and Ben Horowitz. As at April 2022, the company was reported to be managing some $28 billion in assets.

In November and December 2022 there were rumours, reported at the time by Bloomberg, that SpaceX was looking to raise cash by selling shares at around $77 per share. That target might not have been quite achieved in the new funding ($77 per share would have valued SpaceX at $140 billion).

Recent cash-raising exercises saw SpaceX already raise $2 billion last year.

SpaceX’s Starlink broadband service has more than 1 million subscribers. Last year was a successful period for SpaceX having launched 61 of its Falcon 9 rockets, twice the rate for 2021. Founder Elon Musk has recently said that the business is targeting a doubling again of launches in 2023.

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