SpaceX Raises $1 Billion in Financing

spacex_logoAn update from SpaceX:

Space Exploration Technologies (SpaceX) has raised a billion dollars in a financing round with two new investors, Google and Fidelity. They join existing investors Founders Fund, Draper Fisher Jurvetson, Valor Equity Partners and Capricorn. Google and Fidelity will collectively own just under 10% of the company.

SpaceX designs, manufactures, and launches the world’s most advanced rockets and spacecraft. This funding will be used to support continued innovation in the areas of space transport, reusability, and satellite manufacturing.

This funding round values SpaceX at just under $10 billion. The announcement comes one week after SpaceX CEO Elon Musk unveiled plans for a constellation of 4,000 satellites that would provide communications worldwide.