Elon Musk’s SpaceX company has today reported that it has secured new investment from both Google and Fidelity to the sum of $1 billion.
The investment from the two new companies provides them with 10 percent stake of SpaceX which now has an estimated worth of around $10 billion, thanks to the new investment.
The $1 billion investment will be used by SpaceX to develop the Internet satellites it is currently creating. SpaceX is aiming to launch 700 satellites in the near future to provide fast and affordable Internet access anywhere on earth, as well as help secure more spaceflight missions. SpaceX explains :
“Space Exploration Technologies (SpaceX) has raised a billion dollars in a financing round with two new investors, Google and Fidelity. They join existing investors Founders Fund, Draper Fisher Jurvetson, Valor Equity Partners and Capricorn. Google and Fidelity will collectively own just under 10% of the company.
SpaceX designs, manufactures, and launches the world’s most advanced rockets and spacecraft. This funding will be used to support continued innovation in the areas of space transport, reusability, and satellite manufacturing.”
For more information on the new investment by Google and Fidelity jump over to the SpaceX website for details via the link below.
Source: Space X : Tech Crunch
