Rocket maker SpaceX raises another $100 million

Science


(Reuters) – Elon Musk-led SpaceX has raised $100 million by selling shares, in an extension to a financing round earlier this year that raised up to $350 million, a regulatory filing showed on Monday.

FILE PHOTO: Elon Musk, founder, CEO and lead designer at SpaceX and co-founder of Tesla, speaks at the SpaceX Hyperloop Pod Competition II in Hawthorne, California, U.S., August 27, 2017. REUTERS/Mike Blake

SpaceX’s funding round in July had valued the rocket maker at about $21 billion, according to news reports.

In May, Space Exploration Technologies Corp launched its first satellite for the U.S. military with its Falcon 9 rocket, breaking a 10-year monopoly held by a partnership of Lockheed Martin (LMT.N) and Boeing (BA.N).

The Hawthorne, California-based company also has also outlined plans for a trip to Mars in 2022, to be followed by a manned mission to the red planet by 2024.

Besides SpaceX, Musk also leads electric car maker Tesla Inc (TSLA.O).

Reporting by Arjun Panchadar in Bengaluru; editing by Sai Sachin Ravikumar

Our Standards:The Thomson Reuters Trust Principles.



Source link

Products You May Like

Articles You May Like

Apple
China starts formal legal proceedings against disgraced senior politic
Vietnam orders prosecution of two more ex oil executives
Putin orders
Saudi Arabia says cinemas will be allowed from early 2018

Leave a Reply

Your email address will not be published. Required fields are marked *