Connect with us

Business News

Musk’s SpaceX to raise $500 million in funding: Wall Street Journal

Published

on


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

(Reuters) – Elon Musk’s rocket company SpaceX Corp is set to raise $500 million at a $30.5 billion valuation, the Wall Street Journal reported on Tuesday, citing people familiar with the fundraising.

SpaceX did not immediately respond to Reuters request for comment.

In April, Reuters reported that SpaceX was raising $507 million in a new round of funding, valuing the company at around $26 billion.

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

Reporting by Vibhuti Sharma in Bengaluru; Editing by Shinjini Ganguli

Comments

comments

Facebook

Trending