SpaceX, the US-based spacecraft and rocket producer backed by internet and technology group Alphabet, plans to raise $500m of funding at a $23.7bn valuation, Recode reported yesterday, citing a regulatory filing.
The funding is set to come from the company’s existing backers, which include Alphabet subsidiary GV. Multiple sources told TechCrunch last month that SpaceX is lining up a $500m round that will be led by financial services and investment group Fidelity.
SpaceX develops, builds and launches space exploration vehicles and has made several innovations including reusable rockets. It is also the first private company to have returned a craft from low-earth orbit, and to deliver cargo to and from the International Space Station.
The company has raised a total of about $1.7bn since it was founded in 2002. Its last funding came in a $450m round that closed in December 2017, and which was funded by 25 investors according to a securities filing.
DFJ, Rothenberg Ventures, Valor Equity Partners, Capricorn and Founders Fund had supplied approximately $250m for SpaceX before GV and Fidelity combined to invest $1bn at a valuation of more than $10bn in 2015.
In addition to raising new equity funding, SpaceX is also organising up to $500m in secondary share sales according to TechCrunch, with founder Elon Musk buying up $100m of shares.
The company was valued at $21.5bn in December according to CNBC, which cited figures from private share trading platform Equidate.
– Photo courtesy of Space Exploration Technologies Corp.