Latest News by Industry
• The space company raises $1.7 billion in a new funding
Elon Musk’s space company SpaceX raised $1.7 billion in a new funding, sending the company’s valuation to about $127 billion.
CNBC reported that SpaceX is also conducting a secondary sale to company insiders and existing shareholders for up to $750 million in common stock.
The funding round comes amid allegations against Musk for sexual harassment by a former SpaceX jet flight attendant. The billionaire denied the allegations.
The company, which was was valued at $100 billion last year, has raised billions in funds as SpaceX works on its rocket Starship and global satellite network Starlink.
Picture Credits: SpaceX
ALSO READ: