SpaceX now worth $21B, raises $350M in part of a Series H funding

[Guest]

SpaceX has closed a new round of funding as the company proves its abilities to dominate the launch industry. The company raised over $350M from investors at a valuation north of $21B.

SpaceX’s last round of funding closed at $1B from Google and Fidelity, that round valued the company at $12B. The Series H funding round was disclosed by Equidate, a site that provides financial data on privately held companies. SpaceX’s $21B valuation  brings in into a club of 7 VC backed companies that have valuations north of $20B. Musk has previously stated that he wants to wait as long as possible until bringing SpaceX public.

The latest funding round comes as SpaceX accelerates the frequency of launches and continues to chip away at their large order book. SpaceX’s COO Gwyneth Shotwell has been focused on the company’s ability to generate revenue through a sustainable launch business, and SpaceX’s launch manifest is a clear representation of that goal being achieved.

Other competitors in the space business include Jeff Bezos’ Blue Origin and Richard Branson’s Virgin Galactic. But, neither have been as successful or committed as Elon Musk in making meaningful headway in lowering the cost of space flight. Rather than seeking venture funding, Jeff Bezos’ sells roughly $1B of Amazon stock per year to fund its operations.

While it’s unclear how much of SpaceX Elon Musk actually owns, it was last disclosed by an FCC filing in November last year that he owned over 50% of the company. The new valuation on SpaceX has brought his net worth at least $5B higher.

Source