Privately held rocket maker and satellite internet company SpaceX has been valued at $137 billion U.S. in a new funding round.
SpaceX, which is run by Elon Musk, is raising $750 million U.S. in a new funding round, according to a report by financial news network CNBC.
The rocket company raised more than $2 billion U.S. in 2022, including a $250 million U.S. funding round last July. SpaceX was last valued at $127 billion U.S.
Venture capital firm Andreessen Horowitz (known as a16z) is leading the latest funding round in SpaceX. A16z also participated in Elon Musk’s leveraged buyout of Twitter, a $44 billion U.S. deal that closed in October 2022.
SpaceX reached several milestones in 2022 but faced delays to its Starship program, which is part of NASA’s efforts to return astronauts to the moon.
In 2022, the company’s satellite internet service, called Starlink, exceeded one million subscribers and provided a lifeline to users in Ukraine who suffered infrastructure disruptions after Russia’s military attack.
SpaceX also surpassed 60 reusable rocket launches in a single year via its Falcon program during 2022.
The company is currently developing its Starship and Super Heavy launch vehicles at the company’s Starbase facility in Boca Chica, Texas.