Elon Musk’s SpaceX raises $ 1.16 billion in equity

Billionaire Elon Musk’s SpaceX has raised about $ 1.16 billion in equity funding over the past two months, the private rocket company said on Wednesday in an amended regulatory brief.

The filing comes after SpaceX, whose investors include Alphabet Inc and Fidelity Investments, revealed in February that it had raised around $ 850 million, which would have raised its valuation to around $ 74 billion.

The private space company raised $ 1.9 billion in August in its largest fundraiser, according to software and financial data provider PitchBook.

In February, a prototype of SpaceX’s Starship rocket SN9 exploded on its final descent, like SN8 before it. The SN9 was a test model under development to transport humans and 100 tonnes of cargo on future missions to the Moon and Mars.

As a result, the U.S. House of Representatives Transportation and Infrastructure Committee said last month it was investigating a SpaceX commercial space launch that regulators said violated U.S. security requirements and its test license.

Musk, who also heads several futuristic companies including Tesla Inc, Neuralink and Boring Co, said last month that SpaceX would land its Starship rockets on Mars well before 2030.

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Carol M. Barragan

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