Elon Musk’s privately held Space Exploration Technologies – SpaceX, has raised $1.9 billion in a new funding round, according to a regulatory disclosure.
The funding comes as the space exploration startup begins building its Starlink satellite broadband service to offer low-cost internet globally by the end of 2020. The company launched its eleventh batch of satellites on 18th August and operates over 600 satellites in low-earth orbit. There is not much information about who participated in the funding rounds but it was reportedly oversubscribed.
Earlier this month SpaceX’s Crew Dragon capsule its first two-month mission and returned two NASA astronauts to earth. SpaceX plans to start crewed missions to the International Space Station (ISS) in late October. The company is designing a larger vehicle called Super Heavy for launching spacecraft and tourists by next year.