SpaceX has raised a reported $500 million in fresh funding. One portion of the cash injection comes from Scotland-based investment management firm Baillie Gifford. Baillie Gifford is also the largest investor (7 per cent, and worth some $4.6 billion) in Musk’s Tesla electric car business.

The fresh cash places a market value on SpaceX of some $30 billion. SpaceX is not publicly quoted.

This latest move, around the 17th cash-raising exercise made by SpaceX, is reported by the Wall Street Journal as likely to close by year-end.

Baillie Gifford is also an investor in Amazon, Alibaba, Facebook, Baidu and Alphabet/Google.

It is reported that the extra funds will go to help Elon Musk bring his Starlink broadband by satellite project to fruition.

Investment bank Morgan Stanley says that – if Starlink is successful – it will help drive SpaceX’s valuation to more than $50 billion.

Other posts by :

1. D2D satellite battle hots up
2. Eutelsat share price rockets
3. AST SpaceMobile recovers after Verizon agreement
4. Bank has mixed messages for AST SpaceMobile
5. EchoStar clears key regulatory hurdles for Starlink deal
6. Starlinks falling to Earth every day
7. 650 Starlink D2C craft in orbit
8. Bank upgrades SES to ‘Buy’
9. Eutelsat shareholders reach agreement at AGM

Categories: Articles, Funding