SpaceX, Alphabet Secure Additional $850 Million Investment

Corporate Valuation Assessed at $74 Billion

Elon Musk [Photo by AP Yonhap News]

[Asia Economy Reporter Byunghee Park] Elon Musk's private space development company SpaceX announced on the 23rd (local time) through a disclosure that it has raised an additional $850 million in investment funds.

According to major foreign media, Alphabet, Google's parent company, and Fidelity Investments participated in this investment. SpaceX's corporate value was evaluated at $74 billion.

SpaceX also raised $1.9 billion in investment funds last August through the issuance of new convertible preferred shares. At that time, Kim Jung-ju, founder of Nexon and CEO of NXC, reportedly invested $16 million.

SpaceX is a private space development company established by Musk with the goal of migrating to Mars, possessing self-developed rockets and spacecraft modules. In May of last year, it sent the manned spacecraft 'Falcon 9' to the International Space Station (ISS).

SpaceX is developing the spacecraft 'Starship' with the goal of human migration to Mars. In December of last year and earlier this month, it consecutively test-launched Starship prototypes 'SN8' and 'SN9'. Both SN8 and SN9 succeeded in high-altitude flight but exploded during the landing process.

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