Elon Musk is looking to raise $250 million for his SpaceX rocket launching system, according to a CNBC report.

Given that SpaceX currently has Musk’s mega-constellation Starlink system in its portfolio of assets (which also includes the Crew Dragon shuttle and Starship long-distance rocket) means that SpaceX has a value of some $36 billion, says CNBC.

The $250 million of fresh cash is on offer at $220 a share and the $36 billion value is an increase from its previous $33.3 billion.

CNBC says the financing round will wrap about the second week of March. Last year SpaceX raised a total of $1.33 billion in three separate funding rounds and enjoys extreme loyalty from its shareholders – as does Musk’s separate Tesla electric vehicle venture.

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