SpaceX Banks $2 Billion Investment

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SpaceX has closed a funding round of nearly $2 billion on the back of its 100th successful mission and its first crewed commercial flight. The funding round became public this week in a Securities and Exchange filing.

Bloomberg reported that the funding, SpaceX’s largest to date, boosted the company’s valuation to $46 billion.

As SpaceX has established itself as a reliable commercial carrier for cargo and humans traveling to space, it’s also betting on an ambitious plan to run an internet service powered by its constellation of Starlink satellites. It’s another line of business that could be worth billions.

SpaceX’s fleet of Starlink satellites now totals 653. SpaceX Chief Executive Elon Musk has said that 400 to 800 Starlink satellites in orbit will be capable of providing minimal internet coverage, and up to 1,600 to provide moderate coverage. The company plans a beta test in North America later this year.

SpaceX’s is also making progress on its next-generation rocket dubbed Starship. The company conducted a successful 150 meter test flight earlier this month at the company’s facility in Boca Chica, Texas. The prototype of SpaceX’s Starship advances the design of the vehicle that will transport humans to the Moon and Mars.

The post SpaceX Banks $2 Billion Investment appeared first on Tesla Motors Club.

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