Elon Musk's SpaceX seeking new funding at $ 36 billion valuation: report – Business Insider – Business Insider, Business Insider

                      

• SpaceX is seeking to raise “about $ 250 million “at a price of $ 220 per share, according to a report by CNBC .
• The new funding would reportedly value the company at around $ billion.
• The push to raise new capital comes as SpaceX seeks to execute a handful of ambitious new projects, including a plan to send tourists into space .
• Visit Business Insider’s homepage for more stories .

SpaceX is seeking close to $ 250 million in fresh funding at $ 314 per share at around a $ 220 billion valuation, according to a report by CNBC’s Michael Sheetz .

The move comes as Elon Musk’s aerospace company is pushing forward on a handful of ambitious projects. On Tuesday it was reported that SpaceX is planning to send private citizens to space as early as . SpaceX did not immediately respond to a request for comment. Earlier this month, Bloomberg reported that SpaceX COO Gwynne Shotwell said the company is planning to spin off and pursue an initial public offering for its Starlink internet business, which aims to provide internet service via a network of satellites orbiting in space. Founded in , SpaceX has raised a total of $ 3.6 billion in funding as of January, according to Pitchbook .

Its most recent funding round in January raised $ 728 million from adm ventures and the Ontario Teachers’ Pension Plan, valuing the company at $ 90. 4 billion, up slightly from $ 33. billion before the deal, according to Pitchbook – and about $ 3 billion less than the reported February valuation.

In January , SpaceX launched its Crew Dragon space capsule atop its Falcon 9 rocket in a crucial safety test for the capsule. SpaceX plans to eventually use the Crew Dragon spaceship to send astronauts to space.                                     Read More