SpaceX raises $1.9bn in latest funding round

Funding round oversubscribed following recent successes

Space                                 

Space Exploration Technologies Corp has raised a further $1.9bn in new funding, according to a filing with the US Securities and Exchange Commission on Tuesday.

Bloomberg had reported last week that the aerospace manufacturer and space transportation company, which it valued at $46bn, was in the funding process.

Around 75 investors are thought to have been attracted to the privately held firm. Although scant details have been confirmed, the round is thought to have been oversubscribed, with Fidelity Investments ranking among the largest investors.

A slew of prominent successes in recent months has made it easier for CEO Elon Musk to attract investment for the company he founded in 2002.

In May, SpaceX successfully undertook the first-ever private human spaceflight mission to launch from US soil. With the astronauts having returned to ground earlier this month, Musk has proved in the eyes of investors and governments alike his firm’s ability to provide aerospace travel services.

Only two weeks ago, SpaceX won a $316m launch contract from the US government for the next five to seven years. The company will also handle 40 per cent of America's military's satellite launch requirements during this period.

On Tuesday, a further 58 of SpaceX’s Starlink satellites were launched into orbit. After the hundredth successful launch in the company’s history, the company’s plan for a global high-speed internet service is one step closer to becoming a reality.

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