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.

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