Elon Musk’s SpaceX Raises Over $ 337 Million In New Funding


December 29 (Reuters)Billionaire Elon Musk’s SpaceX has raised $ 337.4 million in equity financing, the rocket company revealed in a regulatory filing on Wednesday.

SpaceX, which has Alphabet Inc GOOGL.O and Fidelity Investments among its investors, reached a valuation of $ 100 billion following a secondary stock sale in October, according to CNBC. He had raised about $ 1.16 billion in equity financing in April.

SpaceX did not immediately respond to Reuters’ request for details on the latest funding round.

The company competes with the old Amazon.com AMZN.O Blue Origin, the space business of CEO Jeff Bezos and billionaire Richard Branson’s Virgin Galactic SPCE.N in the burgeoning constellation of commercial rocket companies.

All three rocket companies successfully launched civilians into space.

According to Morgan Stanley, the space economy could be worth $ 1,000 billion by 2040.

Musk, who also runs several futuristic companies including Tesla Inc TSLA.O, Neuralink and Boring Co, said earlier this year that SpaceX would land its Starship rockets on Mars well before 2030.

SpaceX has already launched numerous cargo and astronaut payloads to the International Space Station for the National Aeronautics and Space Administration (NASA).

(Reporting by Chavi Mehta in Bangalore; Editing by Shinjini Ganguli)

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