SpaceX raises $850m in equity financing

Photo: Reuters SpaceX's Crew Dragon spacecraft replica

The space industry giant SpaceX has raised about $850m in equity financing, the private rocket launch service said on Tuesday. The private space company, owned by billionaire Elon Musk, had previously raised $1.9bn in August, which was its largest single fundraising round, according to financial software and data provider PitchBook.

The latest round reportedly lifted the valuation of the company whose investors include Alphabet Inc and Fidelity Investments to about $74bn, Reuters reported.

Earlier this month, a prototype of SpaceX’s Starship rocket exploded during a landing attempt after a high-altitude test launch. The SN9 prototype was a test model of the heavy-lift rocket being developed by the company to carry humans and 100 tons of cargo on future missions to the moon and Mars.

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