Elon Musk-led SpaceX is reportedly raising $750 million in a fresh funding round that would value the company at $137 billion.
What Happened: The latest funding round is likely to be led by Andreessen Horowitz, CNBC reported, based on internal SpaceX communications.
In December, it was reported that SpaceX, a non-public company, had priced its shares at $77 apiece in an insider sale — giving it a valuation of $140 billion. In July the company was valued at $127 billion.
Marc Andreessen-founded Andreessen Horowitz or a16z was one of the backers of Musk’s acquisition of Twitter.
SpaceX and a16z did not immediately respond to Benzinga’s request for comment on the development.
See Also: How To Invest In Space Startups
Why It Matters: Musk-led SpaceX is the most valuable among the privately-held companies in the United States. The entrepreneur’s stake in the firm is around $47 billion.
The billionaire sounded a warning in SpaceX’s fully-reusable super-heavy lift launch vehicle Starship in October and warned of possible delays if future testing saw further explosions.
Last year, CCS Insight analysts said that SpaceX’s satellite internet service, Starlink, could be spun off from SpaceX and could go public by 2025.
Recently, Musk revealed that 100 Starlink terminals are active in Iran — a country rocked by protests recently. The firm’s hardware has also been deployed in war-torn Ukraine.
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Image and article originally from www.benzinga.com. Read the original article here.