It’s lift off! Elon Musk’s SpaceX is now worth £35bn

Elon Musk’s rocket company SpaceX has been valued at $46billion (£35million) after a new round of fundraising.

The firm, which this year became the first private enterprise to send humans into space, raised £1.4billion from investors, according to regulatory filings.

It is the largest single fundraising round to date by SpaceX, which was founded by Musk in 2002.

A SpaceX Falcon 9 rocket carrying astronauts Douglas Hurley and Robert Behnken lifts off to from NASA's Kennedy Space Center in Cape Canaveral, on May 30

A SpaceX Falcon 9 rocket carrying astronauts Douglas Hurley and Robert Behnken lifts off to from NASA's Kennedy Space Center in Cape Canaveral, on May 30

A SpaceX Falcon 9 rocket carrying astronauts Douglas Hurley and Robert Behnken lifts off to from NASA’s Kennedy Space Center in Cape Canaveral, on May 30

The deal gives it a value of about $46billion (£35billion), according to Bloomberg. The funding comes as it races to launch its Starlink satellites into a low orbit.

They will offer wireless broadband internet by the end of 2020.

The company launched its eleventh batch of satellites on Tuesday, and operates over 600 so far.

Its Crew Dragon capsule has just completed its first two-month mission carrying astronauts for NASA to the International Space Station, and plans to start routine crewed missions to the station in October.

SpaceX was also awarded lucrative contracts by the US military this month to launch rockets for the new Space Force agency.

Musk is boss of the company. It is one of his two main business ventures, the other being electric car maker Tesla.

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