- General
- May 25, 2019
- 4 minutes read
SpaceX Raised More Than $1 Billion In Six Months
image: SpaceX According to filings, SpaceX — which just launched the first 60 of a planned 12,000 strong constellation of…
 |
| image: SpaceX |
According to filings, SpaceX — which just launched the first 60 of a planned 12,000 strong constellation of satellites for broadband internet service — has raised more than $1 billion in funding in the last six months as it aims to roll out its ambitious internet service by beaming signals from space from its satellites. Regulatory filings show the company raised $486 million last December and another $536 million in a share sale that kicked off in April.
Musk has said the Starlink mission is an important new revenue stream for the company whose launch service revenue he expects to come at around $3 billion per year. At least 12 launches carrying similar payloads to the one just launched by SpaceX are required to achieve constant internet coverage for most of the world. But for now, Starlink has only been approved for operation in the U.S.
 |
| image: SpaceX |
Starlink satellites are designed such that 95% of all components will quickly burn in Earth’s atmosphere at the end of its lifecycle. SpaceX says future designs will move towards complete disintegration in the atmosphere.
