Billionaire Elon Musk's SpaceX has been successful in raising $1.9 billion in the new funding, as per a regulatory filing on Tuesday. This will be the largest round to date by SpaceX, as per PitchBook data.

As reported by Bloomberg about the funding round last week, it mentioned that the private company is going to have an equity value of $46 billion after the transaction, citing people familiar with the topic.

Elon Musk's SpaceX Successfully Raises $1.9 Billion

Elon Musk
Elon Musk Wikimedia Commons

The funding comes as SpaceX races to build out its Starlink satellite constellation to offer broadband internet commercially by the end of 2020. The company launched its eleventh batch of satellites on Tuesday and operates over 600 satellites in low-Earth orbit.

SpaceX's Crew Dragon capsule completed its first two-month mission carrying astronauts for NASA in early August, with plans to start routine crewed missions to the International Space Station in late October.

(With agency inputs)