- General
- December 15, 2020
- 4 minutes read
SpaceX Shoots For $92B Valuation
The aerospace company SpaceX is seeking to raise a fresh big round of funding at a targeted valuation of up…
The aerospace company SpaceX is seeking to raise a fresh big round of funding at a targeted valuation of up to $92 billion, Business Insider reports, citing “two people with knowledge of the deal”.
SpaceX just raised a $1.9 billion round at a valuation of $46 billion this August so a target to now double that valuation seems very ambitious. Since its inception, the company has raised a total of $5.4 billion in venture funding so it doesn’t seem to have a problem attracting big investors.
SpaceX is ramping up its Starlink satellite and Starship rocket programs so likely requires more capital to uphold those projects, which aren’t currently generating revenue for the company. Just recently, the company flew its Starship rocket to its highest altitude yet in a test flight before it exploded during the process of landing back on Earth.
Likewise, SpaceX is making significant progress on its Starlink satellite project and has launched nearly a thousand satellites out of a planned constellation of 42,000 to deliver satellite internet. Out of the planned 42,000, SpaceX has secured approval to launch 12,000 from US authorities.
According to Business Insider, SpaceX is expected to close its reported new round of funding by January next year. Potential investors for the new round aren’t named.
Probably, SpaceX may draw big bets from single investors in its reported new round, such as when it drew a $500 million investment from the venture capital firm Sequoia Capital for its $1.9 billion round this August. The investment marked the biggest-ever single bet on a company by Sequoia Capital, which is one of the biggest and best-performing venture capital funds globally.
