SpaceX raises more than $500 million in three months, possible for Starlink and Starship projects

On June 2nd, according tomedia reports, SpaceX has successfully raised more than $500m from private investors in the past three months, possibly directly for the company’s Starlink and Starship projects.

SpaceX raises more than $500 million in three months, possible for Starlink and Starship projects

SpaceX launched two rounds of financing on February 28, 2020, seeking to raise $250 million and $349.9 million, respectively. On Tuesday, the company said it had raised $346.2 million in a new round of financing. Through two rounds of financing, the company raised more than $567m and valued it at $36bn.

SpaceX has raised more than $1.6 billion since the beginning of 2019, almost all of it into expensive Starship and Starlink projects, according to documents filed with the Securities and Exchange Commission.

SpaceX is one of three companies that have received a total of $1 billion in funding from NASA to develop a lunar landing system that will transport cargo and humans to the moon.

The company’s “starship”, the largest manned spacecraft in human history and a 100-person vehicle, will be a key vehicle for Musk to achieve his ambitious goal of settling on Mars. Like the Falcon 9 rocket, the starship will be able to repeat multiple flights in the future.

Ultimately, the company hopes to replace its Falcon 9 and Falcon Heavy rockets with “Starship”, but the Starship is still in early development, and the Falcon 9 and Falcon Heavy rockets have been tested several times.

Last week, SpaceX exploded during a static ignition test of its Starship prototype, the Raptor, SN4. The explosion occurred about a minute after a brief test of the Raptor rocket engine, but it is not clear what caused the explosion.

Back in January 2015, Musk announced SpaceX’s Starlink project. The project aims to provide high-quality, low-cost broadband Internet services to users on Earth through more than 40,000 satellites.

Previously, SpaceX had been allowed to launch nearly 12,000 satellites. Of the 1.2 satellites, 4,425 operate at an altitude of 700 miles (1,126 kilometers) and another 7,518 at an altitude of 200 miles (322 kilometers). Last week, the company applied to launch another 30,000 satellites.