September 27, 2022
Elon Musk's SpaceX Raises $1.5B, Bumps Valuation To $125B

The space transportation company founded by the prolific and controversial tech-billionaire Elon Musk has reportedly raised at least $1.5 billion in a fresh funding round, according to an article in The Wall Street Journal citing an unnamed investor.

The funding comes on the heels of recent sexual misconduct claims made against Musk by an unidentified flight attendant. He and other company representatives have denied the claims.

Space exploration isn’t cheap. The company’s pricey initiatives include Starship, a rocket system designed for deep-space missions, and its Starlink satellite-internet service. Last week, company reps told the Federal Communications Commission that the Starlink satellite internet service now has over 400,000 subscribers around the world. This accounts for steady growth since it was introduced in October 2020.

SpaceX raised $1.9 billion in funding in April. The latest capital infusion followed a string of successes at the company. Earlier that month the company’s Dragon 2 reusable spacecraft returned two astronauts to Earth following the end of a two-month trip to the International Space Station. It marked the completion of the first-ever human spaceflight mission by a private company launched from the U.S., as well as the first trip for American astronauts to the ISS since 2011.

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