Venture Capital: SpaceX Rakes In $850M New Capital At $74B Valuation

February 17, 2021 | Latest News, News, Venture Capital

“The company received ‘insane demand’ of about $6 billion in offers over just three days.” (CNBC)

According to a CNBC exclusive, Elon Musk’s SpaceX raised $850 million last week, selling shares at $419.99 a share, and garnering a valuation of $74 billion. So eager were investors for a piece of the funding pie that offers worth $6 billion poured in over just three days. Company insiders and existing investors, therefore, sold another $750 million of shares into the demand. (CNBC)

Last August, the space venture raised nearly $2 billion at a valuation of $46 billion. The current valuation is therefore up by over 60% from that tag.

SpaceX will use the funding to advance its cash-hungry Starlink and Starship projects.

SpaceX: Starlink

The Starlink project will deliver high-speed internet across the globe using a network of thousands of satellites (a “constellation”) suspended over the earth in a low Earth orbit (LEO).

Starlink has already launched more than 1,000 satellites.

It has commenced delivering initial beta service both domestically and internationally and will continue expansion to near-global coverage of the populated world in 2021.

The project was previously estimated to cost over $10 billion.

When complete the network could generate as much as $30 billion of revenue annually, according to CNBC. However, in the interregnum, Musk warned that it could face the pains from “a deep chasm of negative cash flow.”

Musk also said Starlink would launch an IPO when cash flow stabilized.


Starship (Starship spacecraft and Super Heavy rocket) will be a fully reusable transportation system to carry both crew and cargo to Earth orbit, the Moon, Mars, and beyond. Capable of carrying as much as 100 metric tonnes into Earth orbit, Starship is the world’s most powerful launch vehicle under development.

Starship is 16-storeys tall and constructed of stainless steel. It is undergoing tests during which the high altitude SN8 and SN9 Starship prototypes blew up on their final descent.

SpaceX said of the SN9 failure: “These test flights are all about improving our understanding and development of a fully reusable transportation system designed to carry both crew and cargo on long-duration, interplanetary flights.”

The SN10 is scheduled for a test flight in the coming weeks.

Related Story:  SpaceX Launches A Full Crew Into Orbit In Historic Milestone

Image Credit (Flickr): Starship SN9 High-Altitude Flight Test                                                   

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Digital Assets: 1% Of Chileans Sign Up For Worldcoin; Rush Seen In Argentina, Too
September 28, 2023     Digital Assets, News

Worldcoin, the innovative biometric wallet and ID project, is making significant waves in Chile as it surpasses a remarkable milestone. The organization has reported that over 200,000 Chileans have embraced…
FinTech: Atom Bank And Kamma To Partner For Greening UK Mortgage Assets
September 28, 2023     ESG and Sustainability, FinTech, News, Real Estate

Atom bank and Kamma have formed a significant partnership aimed at addressing the pressing concerns of climate change. This collaboration brings together Atom bank’s cutting-edge banking technology with Kamma’s climate…
Venture Capital: Slope, A B2B Solutions Provider Backed By Sam Altman, Scores $30M Funding

Slope, a two-year-old AI startup based in San Francisco, has secured a substantial $30 million equity round led by Union Square Ventures and featuring participation from OpenAI’s CEO, Sam Altman….
Artificial Intelligence: Palantir Awarded $250M Contract By US Department Of Defense For AI R&D
September 28, 2023     Artificial Intelligence, Latest News, News

Palantir Technologies Inc. (NYSE: PLTR) has secured a significant contract worth $250 million with the US Defense Department. The primary focus of this contract is the research and development of…