SpaceX is raising $750 million in a fresh round of funding that values the satellite and rocket company at $137 billion from investors, including Andreessen Horowitz, CNBC reported. It was reported in 2022 that the company was talking about an offering of mostly secondary shares that could raise the company’s value to $150 billion, representing a 20% hike in valuation. SpaceX, which includes Fidelity Investments and Alphabet Inc (GOOGL.O) among its investors, had raised about $1.68 billion through equity financing in June 2022.
Horowitz was also a co-investor in Musk’s Twitter buyout deal worth $44 billion. SpaceX has since launched multiple cargo payloads and astronauts to the International Space Station for the National Aeronautics and Space Administration (NASA). Spokespersons for SpaceX and Horowitz did not share any comments.
Starlink, which is SpaceX’s growing network of internet satellites, is looking at generating significant revenue with commercialized applications such as the rollout of high-speed internet on commercial airlines. SpaceX is competing with billionaire Richard Branson’s Virgin Galactic (SPCE.N) and Amazon.com (AMZN.O) founder Jeff Bezos’s space venture Blue Origin.