SpaceX, the rocket manufacturer and satellite internet company founded by Elon Musk, is raising US$750mln in a new funding round that values the company at US$137bn, according to CNBC.
This round is being led by Andreessen Horowitz, which also participated in Musk's leveraged buyout of Twitter in October 2022, the news outlet said citing correspondence it had seen.
In 2022, SpaceX raised more than US$2bn in funding, including a US$250mln round in July, and was valued at US$127bn in May of that year.
Last year, SpaceX achieved several significant milestones, including exceeding one million subscribers for its satellite internet service, Starlink, and launching more than 60 reusable rockets through its Falcon programme.
The company also provided a lifeline to users in Ukraine who suffered infrastructure disruptions due to Russia's invasion. However, the company faced delays in its Starship program, which is part of NASA's efforts to bring astronauts back to the moon.
The Starship and Super Heavy launch vehicles are currently being developed at SpaceX's Starbase facility in Texas, though it is not yet clear when these larger vehicles will undergo an orbital launch test.
Despite these achievements, there have been questions about Musk's ability to focus on SpaceX given his involvement with Twitter and other projects.
NASA administrator Bill Nelson recently asked SpaceX president and chief operating officer Gwynne Shotwell whether Musk's role as CEO of Twitter might affect the company's work with the space agency, to which Shotwell reportedly reassured Nelson that it would not.
Currently, NASA is considering whether SpaceX can assist in the rescue of residents on the International Space Station, including an astronaut and two cosmonauts with Russia's Roscosmos, following a coolant leak in Russia's Soyuz capsule in December.