Elon Musk’s SpaceX brings $1.9B up in funding

Elon Musk’s SpaceX brings $1.9B up in funding

Billionaire Elon Musk’s SpaceX has brought $1.9 billion up in new funding, as per an regulatory filing on Tuesday.

This would be the biggest single fundraising round to date by SpaceX, as per PitchBook information.

Bloomberg, which revealed about the funding round a week ago, said the private rocket organization will have an equity value of $46 billion after the transaction, refering to individuals acquainted with the issue.

The funding comes as SpaceX races to work out its Starlink satellite constellation to offer broadband internet commercially by the finish of 2020. The organization propelled its eleventh batch of satellites on Tuesday, and works more than 600 satellites in low-Earth orbit.

SpaceX’s Crew Dragon capsule finished its initial two-month mission carrying astronauts for NASA toward the beginning of August, with plans to begin routine crewed missions to the International Space Station in late October.