A SpaceX Falcon 9 rocket is launched carrying the company’s Crew Dragon spacecraft on the Demo-2 mission with NASA astronauts Robert Behnken and Douglas Hurley on board.
NASA / Bill Ingalls
Space Exploration Technologies, Elon Musk’s reusable rocket and satellite Internet company, is in talks to raise $ 500 million to $ 1 billion in N-series funds at a valuation of $ 44 billion, according to revised documents. by CNBC and people familiar with the company’s fundraising activity.
The funding would help SpaceX begin commercial operations of its Starlink satellite broadband service and conduct suborbital and orbital test flights of its Starship and SuperHeavy booster launch vehicle. Bloomberg previously reported on the fundraising plans.
SpaceX tells investors that its Starlink business is going after a total addressable market of $ 1 trillion, which includes taking satellite broadband anywhere on Earth, to ships at sea and to airplanes in flight. The company has launched more than 450 satellites since it first deployed the satellite constellations for Starlink in November. Company officials hope to start generating revenue from the service this year.
SpaceX aims to make interplanetary transport from Earth to the moon and Mars a reality with its reusable rockets. The company also has an ambition to use Starship for fast long-distance air travel on Earth, making long-distance flights in less than an hour.
SpaceX’s previous investors included those who backed Musk’s auto company Tesla. Shared investors have included the Peter Thiel Founders Fund, Baillie Gifford and Valor Equity Partners. SpaceX has a myriad of other investors, including Fidelity, Gigafund, and Google.
Gigafund, founded by SpaceX board member Luke Nosek, is expected to play a significant role in the new round.
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