Elon Musk’s Space Exploration Technologies (SpaceX) has raised $1-billion 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.
The company’s long-term goal is to develop and fully and rapidly reusable rocket, something that has never been done before but with will substantially reduce the cost of space access.
