Elon Musk's SpaceX raises USD 346 million in funding ahead of its debut astronaut mission

This launch of SpaceX's first crewed mission will put an end to NASA's nine-year hiatus in human spaceflight.

Reuters May 27, 2020 00:15:49 IST
Elon Musk's SpaceX raises USD 346 million in funding ahead of its debut astronaut mission

Elon Musk’s SpaceX said on Tuesday that it raised $346.2 million in a new round of funding, a day before it launches two American astronauts to the International Space Station.

The private rocket company’s launch of its first crewed mission on Wednesday from NASA’s Kennedy Space Center in Florida will put an end to the U.S. space agency’s nine-year hiatus in human spaceflight.

Elon Musks SpaceX raises USD 346 million in funding ahead of its debut astronaut mission

SpaceX's Crew Dragon to be used for Demo-2, arrives for processing. Image credit: Wikipedia

 

The launch, which will be attended by President Donald Trump, is crucial for Musk, SpaceX and NASA.

A successful flight will mark a milestone in the quest to produce reusable spacecraft that can make space travel more affordable. Musk is the founder and chief executive officer of SpaceX and CEO of Tesla Inc.

Including the latest round, the company has raised more than $567 million and is valued at about $36 billion, according to a CNBC report.

Updated Date:

also read

Over 3 million Afghan children under five could suffer from acute malnutrition by year end, warn UN agencies
World

Over 3 million Afghan children under five could suffer from acute malnutrition by year end, warn UN agencies

Acute food insecurity is affecting 14 million people in Afghanistan who are without reliable access to water, food and basic health and nutrition services, following years of conflict

James Webb: Most powerful space telescope built, will look back at the Dark Ages of the universe
science

James Webb: Most powerful space telescope built, will look back at the Dark Ages of the universe

The Dark Ages ended when gravity formed the first stars and galaxies that eventually began to emit the first light and astronomers don’t know when it happened, the best guess is that it was several hundred million years after the Big Bang.

EPFO likely to credit interest for 2020-21 in accounts of over six crore subscribers; rate still at 8.5%
Business

EPFO likely to credit interest for 2020-21 in accounts of over six crore subscribers; rate still at 8.5%

The finance ministry is expected to give its seal of approval to the decision soon