Last Updated on January 3, 2023 by Bitfinsider

SpaceX, Elon Musk’s reusable rocket builder and satellite internet startup, is seeking $750 million in a fresh round of fundraising valued at $137 billion.

Bloomberg originally reported last month that SpaceX was enabling insiders to sell at $77 per share, putting the company’s capitalization over $140 billion. According to CNBC, the business raised more than $2 billion in 2022, including a $250 million round in July, and was valued at $127 billion at an equity round in May.

Andreessen Horowitz (also known as a16z) would likely head the fresh investment round, according to an e-mail issued to prospective SpaceX investors. Founders Fund, Sequoia, Gigafund, and others were among the early SpaceX investors.

A16z also took part in Elon Musk’s $44 billion leveraged takeover of Twitter, which concluded in late October 2022.

Last year, SpaceX reached numerous new milestones, but its Starship mission, which is part of NASA’s plan to return men to the moon, was delayed.

On the plus side, the company’s satellite internet service, Starlink, surpassed one million customers and provided a lifeline to consumers in Ukraine who experienced infrastructure interruptions as a result of Russia’s invasion. Through its Falcon program, SpaceX also managed to achieve 60 reusable rocket flights in a single year.

The Starship and Super Heavy launch vehicles are presently being developed at the company’s Starbase facility in Boca Chica, Texas. It is unclear when the corporation will proceed to the next stage of the program, which would include an orbital launch test of these bigger vehicles.