SpaceX shooting for $750M round At $137B valuation

SpaceX had a busy 2022 fundraising, and it looks like this year will be very similar for the space startup.

Elon Musk’s rocket and satellite company aims to raise a fresh $750 million round at a $137 billion valuation, CNBC reported.

The report cited an email that revealed a16z will likely lead the new funding round. The VC firm also helped Musk in his $44 billion Twitter buyout.

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Hawthorne, California-based SpaceX raised $1.68 billion in June 2022 that valued it at more than $125 billion. The space startup quickly added another $250 million in July.

The new valuation is on par with a report late last year by Bloomberg regarding SpaceX selling employee and investor shares via a tender offer which will value the company at $140 billion.

SpaceX’s ups and downs
Last year was a mixed bag for the space startup. It faced delays to its Starship program — part of NASA’s effort to take astronauts back to the moon — but also saw its satellite internet service, Starlink, exceed 1 million subscribers.

The report of such a large round also is notable due to the significant dip in venture capital last year. It is unlikely that the SpaceX round will be a harbinger of an uptick in the market, but it could be one of the largest rounds raised in 2023.

SpaceX’s $1.68 billion raise last year was the second-highest round of the year raised by a U.S.-based startup, per Crunchbase.

The company has raised a total of nearly $10 billion, according to Crunchbase data. Previous investors in the company include NASA, Stack Capital, Bracket Capital and the United States Space Force, among others. Nasdaq