Elon Musk's rocket company SpacX set to raise a funding of $500 million: Report

Elon Musk ’s rocket company SpaceX Corp is set to raise $500 million at a $30.5 billion valuation, the Wall Street Journal reported on 12 December, citing people familiar with the fundraising. The company is raising the capital from existing shareholders and new investor Baillie Gifford & Co, the third-largest shareholder in Musk-led electric carmaker Tesla Inc. SpaceX did not immediately responded to Reuters request for comment. [caption id=“attachment_4967151” align=“alignnone” width=“1024”] Elon Musk speaks at a community meeting in Bel Air, Los Angeles, California, US. Image: Reuters[/caption] SpaceX investors are paying $186 per share for new stock in the latest funding round, WSJ reported, adding that it is up about 10 percent from the $169-per-share paid during an April fundraising. In April, Reuters reported that SpaceX was raising $507 million in a new round of funding, valuing the company at around $26 billion. The Hawthorne, California-based company has outlined plans for a trip to Mars in 2022, to be followed by a manned mission to the red planet by 2024. Separately, SpaceX’s launch of a long-delayed navigation satellite for the US military was halted on December 18, postponing for at least a day the space transportation company’s first designated national security mission for the United States.