SpaceX Raises $351 Million as Valuation Soars

The U.S. Air Force’s 45th Space Wing supported SpaceX’s successful launch of the EchoStar XXIII spacecraft aboard a Falcon 9 rocket from Launch Complex 39A at NASA’s Kennedy Space Center March 16 at 2 a.m. EDT. (Credit: SpaceX webcast)

SpaceX has raised an additional $351 million in a Series H funding round, increasing its valuation to $21.2 billion and share price to $135, the website Equidate reports.

The increase in valuation makes SpaceX one of the most valuable privately held companies in the world, according to The New York Times.

The company was previously valued at $14.9 billion with a share price of $96.42 in March 2016, Equidate reports.

In related news, Axios reports that Founders Fund co-founder Luke Nosek is leaving the venture capital company to create a new investment firm called Gigafund that will be focused on raising capital for SpaceX.

A source says that Nosek has been spending an increasing amount of time on SpaceX business, and the idea behind Gigafund is to ensure that the space exploration company won’t have debilitating capital constraints. An SEC filing suggests that it’s seeking to raise an initial $100 million, with former Founders Fund venture partner Stephen Oskoui also involved.

SpaceX statement, per spokesman John Taylor: “While we wish Luke well in his new endeavors, there is no guarantee of future investment allocations in SpaceX or any other companies associated with Elon.”

Founders Fund has invested $200 million into SpaceX. Nosek is the fund’s representative on the company’s board.

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