SpaceX just completed a successful funding round of $850m. This shoots the space transportation firm to astronomical heights (pun intended!), with a valuation of roughly $74b.
SpaceX is backed by Abu Dhabi’s International Holding Company (IHC), which bought a 94% stake in Falcon CI IV LP, a private equity fund that invested in Musk’s company.
The company is working on major projects, such as the next-generation reusable rocket Starship and a global broadband internet satellite network that will feature over 12,000 satellites.