Last Update: March 23, 2023, 05:23 AM IST
According to venture capital firm Space Capital, SpaceX will raise $2 billion in 2022 and $2.6 billion in 2020. (file photo)
The funding round is expected to value the rocket maker at around $140 billion
A unit of Saudi Arabia’s investment fund and an Abu Dhabi-based company are planning to invest in a multibillion-dollar funding round for Elon Musk-led SpaceX, reported on Wednesday, citing people familiar with the discussions. given.
The funding round is expected to value the rocket maker at around $140 billion, the report said.
According to venture capital firm Space Capital, SpaceX will raise $2 billion in 2022 and $2.6 billion in 2020.
According to the report, representatives of the company and Morgan Stanley have told investors that Saudi Arabia’s Water and Electricity Holding Company, which is part of the country’s sovereign wealth fund, and the United Arab Emirates’ Alpha Dhabi are part of the funding round.
SpaceX, Saudi Arabia’s Public Investment Fund and Alfa Dhabi did not immediately respond to a Reuters request for comment.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
