Elon Musk’s SpaceX has raised $850 million in a round of fresh equity funding, sending its valuation to about $74 billion. SpaceX raised the funds at $419.99 a share, and the latest funding round represents a jump of about 60% in the company’s valuation from its previous raise, where it raised $2 billion and was valued at $46 billion.
Earlier in February, Musk’s electric vehicle company Tesla revealed that it had bought $1.5 billion of bitcoin and would soon accept the cryptocurrency as a form of payment for its cars.
Space Exploration Technologies Corp. is an American aerospace manufacturer and space transportation services company, with its headquarters in Hawthorne, California. It was founded in 2002 with the goal of reducing space transportation costs to enable the colonization of Mars. The company has developed several launch vehicles and rocket engines and the Dragon cargo spacecraft and the Starlink satellite constellation (provides internet access). It has flown humans and cargo to the International Space Station (ISS) on the SpaceX Dragon 2.