SpaceX adds to previous equity round, pushing Elon Musk’s last raise total to nearly $1.2 billion

Elon Musk’s SpaceX added more cash to its most up-to-date equity raise, in accordance to a securities submitting on Wednesday.

SpaceX held a second shut of about $314 million, including to the $850 million that CNBC reported the corporate raised in February. The modification brings the spherical’s new total equity raised to $1.16 billion, which the corporate raised at a valuation of about $74 billion.

Strong demand for the corporate’s shares facilities round its ambitious Starship and Starlink projects.

Starship is the next-generation rocket that Musk’s firm is creating, designed to be extra highly effective than even the Saturn V rockets that carried astronauts to the moon.

Starlink is a worldwide satellite tv for pc community, which SpaceX is starting to use to convey high-speed web to prospects.