Elon Musk's SpaceX Seeks To Double Valuation At $92B In New Funding Round: Report

Space Exploration Technologies Corp., or SpaceX, is in talks with investors to raise fresh funding, as per Business Insider.

What Happened: The Elon Musk-led aerospace company is seeking a valuation of $92 billion in the funding round, which it intends to close by January, Bloomberg reported, citing Business Insider.

SpaceX last raised $1.9 billion in mid-August at an enterprise valuation of $46 billion. Fidelity Investments was said to be one of the lead investors in the funding round.

Bloomberg noted that persuading investors on the two times hike in valuation within a span of four months could be an uphill task.

Why Does It Matter: In the past month, SpaceX has carried out two notable events.

The first was a successful manned mission to the International Space Station that docked on Nov. 16. The latest endeavor was the passenger transport Starship SN8 prototype’s high altitude test flight.

Two more SpaceX shuttles are in development and could take flight sometime next year.

Towards the end of September, SpaceX bagged a contract with NASA for the Interstellar Mapping and Acceleration Probe (IMAP) space science mission. Earlier in the year, NASA also announced that SpaceX was one of the selected candidates for the 2024 moon landing under the Artemis space program.

Morgan Stanley in October said it estimated SpaceX to be worth around $100 billion, as reported by Forbes.

SpaceX and Tesla Inc's TSLA combined valuation crossed $500 billion in November, an event that Musk described as "wild times."

See Also: No Starlink Spin-Off Or IPO In The Works, Says Musk

Photo courtesy: Daniel Oberhaus via Wikimedia