Elon Musk’s SpaceX pulls another $1.7 billion in funding

Elon Musk’s SpaceX pulls another $1.7 billion in funding

Space Exploration Technologies Corp., better known as SpaceX, has pulled in another $1.7 billion in equity funding, according to a filing Monday.

Privately held SpaceX, led by Tesla Inc. TSLA, +5.48% Chief Executive Elon Musk, sold about $1.68 billion in new equity in a $1.72 billion offering, according to the Securities and Exchange Commission filing. The first sales occurred late last month, it said.

The round brings the company’s valuation to about $125 billion, from about $100 billion late last year.

Earlier Monday, U.S. aviation authorities said that they found no “significant” environmental impact from the company’s plans to launch its Starship spacecraft and Super Heavy rocket at its existing launch site in south Texas, but the company will have to make several adjustments to the plan.

Starship is SpaceX’s reusable transportation system designed to carry crew and cargo to Earth’s orbit as well as “the moon, Mars and beyond,” the company says.

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