SpaceX secures $1.8 billion in new funding, reaching a $175 billion valuation. Recent FAA approval for Starship test flights and a partnership in the Philippines underscore its growth in aerospace and satellite internet.
SpaceX raised $1.8 billion in new funding, valuing the company at $175 billion, as it advances Starship tests and expands Starlink’s global reach, regulatory filings show.
Funding and Valuation Surge
SpaceX disclosed a $1.8 billion capital raise in an October 20 SEC filing, cementing its $175 billion valuation—the highest among U.S. private companies. Investors doubled down despite technical delays and regulatory hurdles.
Regulatory Milestones for Starship
The FAA greenlit SpaceX’s fourth Starship orbital test flight on October 26, 2024, after the company addressed 63 corrective actions from March’s failed launch. This marks a critical step toward Mars colonization plans.
Starlink’s Southeast Asian Expansion
Partnering with Philippines-based Converge, announced October 24, SpaceX aims to connect 25 million underserved users. The deal positions Starlink against regional rivals like Singapore’s Singtel.
Competitive Pressures in Satellite Internet
Amazon’s Project Kuiper reported a prototype test success on October 23, achieving 400 Mbps speeds. The rivalry intensifies as both firms race to deploy low-Earth orbit constellations.
Valuation Context and Market Position
PitchBook’s October 25 report confirms SpaceX’s lead over ByteDance ($165B) and Stripe ($50B). CEO Elon Musk retains 54% voting control, per SEC documents.
Historical Precedents in Aerospace Financing
SpaceX’s valuation has grown 75% since its $100 billion milestone in 2021. Previous funding rounds financed Crew Dragon launches, contrasting with Blue Origin’s slower, non-commercial approach.
Starlink’s Growth Versus Past Tech Disruptions
Similar to Alipay’s 2010s mobile payment revolution in China, Starlink’s infrastructure could reshape Southeast Asia’s digital economy. However, geopolitical risks persist, including Philippine telecom regulations favoring local operators.
