Billionaire Elon Musk’s SpaceX has raised $1.9 billion in new funding, in response to a regulatory submitting on Tuesday.

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This can be the most important single fundraising spherical up to now by SpaceX, in response to PitchBook information.

Bloomberg, which reported concerning the funding spherical final week, stated the non-public rocket firm can have an fairness worth of $46 billion after the transaction, citing individuals accustomed to the matter.

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The funding comes as SpaceX races to construct out its Starlink satellite tv for pc constellation to supply broadband web commercially by the top of 2020. The firm launched its eleventh batch of satellites on Tuesday, and operates over 600 satellites in low-Earth orbit.

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

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(Reporting by Munsif Vengattil in Bengaluru; Additional reporting by Joey Roulette in Washington; Editing by Maju Samuel and Muralikumar Anantharaman)



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