SpaceX in talks for new funds and $ 92 billion valuation: report – tech2.org

SpaceX in talks for new funds and $ 92 billion valuation: report


Elon Musk Space Exploration Technologies Corp. is in discussions with investors to extend another round of funding and double its valuation to $ 92 billion, Business Insider Reported.

Business Insider said on Monday that SpaceX tried to stop funding in January, citing people familiar with the matter. The rocket maker may be unable to convince investors that its valuation should be twice its level in a deal that was closed about four months ago.

SpaceX, which Raised $ 1.9 billion in August, not immediately responding to request for comment.

Since the last funding round, SpaceX, already one of the world’s most valuable private companies, flew its first regular crew to Mission International Space Station NASA. It was another milestone for a company that had led to a rush for cash in the commercialization of space – and was planning major investments in satellite-based Internet service and a big new rocket.

Last week, SpaceX conducted the first high-altitude test of its new Starship SN8 prototype vehicle, designed to take humans to the Moon, Mars and other destinations. Musk deemed the flight a The success, even though the trial ended with a furious crash landing in South Texas.

SpaceX has two additional starship test vehicles that are nearing completion and Musk said the craft is likely to conduct its first orbital flight in 2021.

The Hawthorne, California-based company is also contracting with the National Aeronautics and Space Administration to build a starship that can land humans on the moon as part of the agency’s Artemis program. Eventually, Musk wants to send hundreds of starships to colonize Mars and spread human life beyond Earth.

In addition to human exploration, SpaceX is building its StarLink satellite constellations to provide broadband Internet around the world from low-Earth orbit. The company has launched over 700 satellites, with thousands planning to offer global coverage. The company has opened a “Better Than Nothing” beta testing program in the US and Canada, with the service costing $ 499 plus $ 99 per month.

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