SpaceX Raises $1bn from Google and Fidelity Investments
Colby Hochmuth | January 23, 2015Space Exploration Technologies (SpaceX) raised $1 billion in mid-January to help finance its research into space transport, reusability and satellite manufacturing technologies.
Under the deal made with Google and Fidelity Investments, the two companies will have a combined stake of less than 10% in SpaceX. They join other investors that include Founders Fund, Draper Fisher Jurvetson, Valor Equity Partners and Capricorn.
SpaceX’s latest equity round comes after founder Elon Musk announced plans to launch a space Internet project to provide Internet services to remote corners of the Earth and eventually to Mars, reported Bloomberg Businessweek.
Google’s investment in the aerospace sector is not its first. Last year, it acquired satellite-maker Skybox Imaging for $500 million and Titan Aerospace, a solar-powered drone manufacturer.
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