Tech news outlets are reporting that Elon Musk’s SpaceX, which manufactures reusable rockets and provides internet via satellite, is ready to raise $750 million at a valuation of $137 billion. According to an e-mail issued to potential investors, A16z (also known as Andreessen Horowitz) is anticipated to head the fresh investment round for SpaceX. Founders Fund, Sequoia, Gigafund, and others were among SpaceX’s early investors.
Apex Space, which is working on a tiny satellite bus, received $7.5 million in backing from Andreessen Horowitz not too long ago. In addition, Elon Musk’s leveraged takeover of Twitter for $44 billion included A16z as a participant in October 2022. While SpaceX made significant progress in 2018, there were setbacks in the development of its Starship mission, which is part of NASA’s plan to return people to the moon.
Starlink, the company’s satellite internet service, now has more than one million users and has been a lifeline for Ukrainians since Russia’s invasion crippled the country’s infrastructure. Starlink’s network of more than 3,000 satellites makes high-speed Internet access even in remote locations where fixed-line service is unavailable. In order to reach the target of 42,000 satellites by the middle of 2027, the current pace of production will need to accelerate.
Plus, SpaceX’s Falcon program successfully launched 60 reusable rockets in a single year. The company’s Starship and Super Heavy launch vehicles are now in development at its Starbase facility in Boca Chica, Texas. Uncertainty surrounds the next phase of the program, which involves launching a test version of these bigger rockets into orbit.
Blue Origin, the space company of Amazon.com founder Jeff Bezos, and Virgin Galactic, the space enterprise of billionaire Richard Branson, are two challengers to SpaceX.
Tech publications indicate that Elon Musk’s SpaceX, which creates reusable rockets and offers internet access via satellite, is prepared to raise $750 million at a valuation of $137 billion. An email sent out to investors suggests that A16z, commonly known as Andreessen Horowitz, will lead SpaceX’s next funding round. Initial investors in SpaceX included Founders Fund, Sequoia Capital, Gigafund, and others.
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