SpaceX, the US-based space exploration company backed by internet and technology conglomerate Alphabet, has raised $350m in new funding, the New York Times reported yesterday, citing public filings obtained by Equidate.
The identity of the investors was not disclosed, but the round values SpaceX at $21bn, about double the valuation at which it last raised funding, in a $1bn round co-led by Google, prior to its amalgamation into Alphabet, and financial services group Fidelity in early 2015.
Founded in 2002, SpaceX designs, produces and launches rockets and spacecraft into space, both for US government agency Nasa and for private clients.
Much of the company’s work involves launching satellites into orbit, but founder Elon Musk has stated its long term goal is to colonise Mars. It has executed 10 launches so far in 2017, including the first ever reflight of an orbital rocket, showing the potential for the reuse of rockets.
SpaceX had raised about $250m prior to the 2015 round, $30m of which came in a 2012 round led by venture capital firm DFJ that reportedly valued it at $4bn to $5bn. Other SpaceX backers include Rothenberg Ventures, Valor Equity Partners, Capricorn Investment Group and Founders Fund.
The round’s valuation puts SpaceX comfortably in the top 10 most valuable VC-backed private companies, behind just Uber, Ant Financial, Didi Chuxing, Xiaomi and Airbnb, but ahead of the likes of Palantir and WeWork.
– Photo courtesy of Space Exploration Technologies Corp.