Elon Musk's SpaceX is expected to raise $750 million in a new round of funding, valuing the rocket and satellite internet company at $137 billion.
- Elon Musk's SpaceX will seek to raise $750 million in a new funding round that values the company at $137 billion.
- SpaceX raised $2.2 billion last year, making it the most valuable private company in the country.
- Venture capital firm Andreessen Horowitz is expected to lead the funding round.
- SpaceX recently launched its 200th rocket and reached 1 million subscribers for its Starlink satellite internet service.
Andreessen Horowitz, which contributed $400 million to Musk's purchase of Twitter in October, will probably lead the financing. Previous financial backers have included Sequoia, Gigafund, and Founders Fund.
Analysts have anticipated a higher valuation since Bloomberg reported in December that SpaceX had offered to insiders to sell shares for $77 each, a price that valued it close to $140 billion --making it the most valuable private business in the U.S.
SpaceX has reported mixed success in recent months. The company reached a milestone 60 reusable rocket launches in 2022 through its Falcon program, notched its 200th flight on Jan. 3 and topped 1 million subscribers to its Starlink internet business after bolstering services in Ukraine amid Russia's armed invasion. NASA is reportedly considering enlisting SpaceX to help bring home crew members aboard the International Space Station after a Russian Soyuz capsule began to leak coolant.
Even so, SpaceX has been forced to delay numerous launches, including a moon lander. Musk's polarizing leadership at Twitter since has also prompted concern from NASA Administrator Bill Nelson that the billionaire may be distracted at the expense of SpaceX's performance.