SpaceX has raised an additional $300 million in a funding round revealed earlier this year to help the company’s Starship launch system as well as Starlink satellite constellation growth. The group updated a February statement that revealed collecting $850 million in a modified filing with the United States Securities and Exchange Commission on April 14. According to the group, it has now earned $1.164 billion. The firm did not disclose the origins of the extra $314 million. According to the filing, 99 investors invested in the round, up from 69 in the round’s February submission. The details of the funding were also not disclosed in the filing, despite claims in February that the latest round priced SpaceX at $74 billion, a major improvement over the previous round.

In August 2020, SpaceX received $1.9 billion in the latest funding phase. To date, it has earned over $6 billion in the capital. All of the money has gone into two high-profile, high-cost ventures that SpaceX is working on. One example is the Starlink network of broadband internet satellites that the organization is presently launching, which includes about 1,350 satellites. Gwynne Shotwell, chief operating officer and president of SpaceX, said in an April 14 conversation at the Massachusetts Institute of Technology’s Department of Aeronautics and Astronautics’ SpaceTech meeting that the organization would eventually have enough spacecraft in orbit to have worldwide reach.

“We foresee getting absolute global connectivity, stable global connectivity, several months after the 28th launch with Starlink,” she added, referring to a landmark she expects to hit “late this year.” The firm’s v1.0 Starlink satellites launched for the 23rd time on April 7. “After that, we’ll begin to expand capability with additional satellites. We’ll keep improving our technology and, in general, have more beams on the ground.” The integration of laser intersatellite connections is one of these technological advancements. Shotwell claims that two generations of the system have already been evaluated on several of the company’s satellites. “The first two we did fly were very costly. We flew a less costly second phase of technology,” she explained.

“Over the next several months,” she added, the third wave of laser intersatellite connections would take to the skies. She didn’t go into detail about those ambitions, but they’re likely to be part of the satellite the organization is planning to launch into polar orbits. She claims that the latest hardware would be able to transmit data over longer distances and with higher capacity while being “far less expensive” than previous models.

The Starship launch platform is SpaceX’s other capital-intensive operation. In recent months, the corporation has flown and lost four Starship designs on suborbital research flights, the most recent being on March 30. SN15, a modern Starship concept, landed on the launch pad at SpaceX’s Boca Chica, Texas, testing facility recently in preparation for a flight test that might change as early as this month.

By Adam

Leave a Reply

Your email address will not be published. Required fields are marked *