- The Space Investor
- Posts
- 🚀 SpaceX Eyeing $350B Valuation
🚀 SpaceX Eyeing $350B Valuation
Plus OpenAI and Anduril partnership, Jared Isaacman to NASA Chief, 7 funding rounds/raises and more! The latest space investing news and updates.
The Space Scoop
Week Ended 12.06.2024
Happy Friday! Jared Isaacman will be your new NASA administrator. What a nomination and congratulations Jared! In other news, it was a busy week for capital raises and funding rounds. Lets dive right in.
Market Max-Q
Top Stories
1) SpaceX is now seeking a $350B valuation in its latest secondary / tender offer.
Three weeks back, we reported on the Financial Times report Elon Musk's company was preparing to launch a tender offer in December to sell existing shares at ~$135 per share or a valuation increase of +$40B to $250B from the last tender offer earlier this year.
This week, Bloomberg upped the ante with rumors of a $350B valuation, or a +66% increase from last month, which would make SpaceX the most valuable private company.
This jump in valuation follows successful Starship fifth and sixth test flights. More to come here!
In Other News
SatVu Raises ÂŁ10M Funding Round
(Payload)
The London-based thermal imaging company announced the round last week, which was essentially doubled by a ÂŁ10M insurance payout as well. The startups goal is to build a satellite constellation to provide near-real-time thermal data. The round was led by Adara Ventures Energy and Molten Ventures, with participation from NOA, Lockheed Martin ($LMT), Seraphim ($SSIT), Ridgeline, and Stellar Ventures.
SpinLaunch Raises $11.5M in Funding
The kinetic launch system and satellite constellation startup has raised nearly half of a planned $25M funding round, per SEC documents. Sources say the company was previously hoping to raise a $350M round at a $2B valuation. The funding aims to “help accelerate the commercialization and advance SpinLaunch’s integrated suite of low-cost, sustainable space solutions.”
FibreCoat Raises €20M Series B
The German materials startup “will apply the insights gained from terrestrial applications of our material to work with the space industry." Space-related applications include radiation shielding, temperature regulation and reducing of satellite weight. The round was led by NewSpace Capital and Goose Capital.
Turion Space Raises $20M Series A
The space domain awareness and non-earth imaging startup closed out its oversubscribed investment round with a strategic investment from Veteran Ventures Capital, a VC firm focused on dual-use national security tech. The capital will be used to expand satellite fleet and further develop autonomous docking and maneuvering systems.
Sateliot Receives €30M Venture Loan
(Company)
The Spanish satellite startup received the funding from the European Investment Bank (EIB) to co-finance its constellation of 100+ LEO satellites. The loan is guaranteed by InvestEU, the EU program supporting public and private sector investment of EU policy goals from 2021 to 2027.
Raven Space Systems Raises $2M Pre-Seed
The Kansas City-based startup is currently developing a process to 3D-print off-the-shelf thermoset composite components. The round was led by Backswing Ventures, with participation from 46 Venture Capital, Mana Ventures, What If Ventures and Cape Fear Ventures.
Orbite Raises $4M Series A
The space training startup has plans to expand and build its “Spaceflight Gateway Campus" - bringing astronaut training and luxury hospitality together. The company also revealed a strategic partnership with Accor. The round was backed by existing and new investors.
Intuitive Machines Prices $110M Offering
(Company)
The upsized offering of ~9.5M shares of Class A common stock was enacted at $10.50 per share. There was also a concurrent private placement of ~952k shares to Boryung Corporation, an accredited investor. $LUNR shares fell -10% on the news.
Chart of the Week
Future Heavy-Lift Launch Market 2024-2033
(Source)
Links
• Redwire ($RDW) Expands European Operations and Opens Regional Office in Warsaw• Spire ($SPIR) Appoints New CEO and Makes Executive Team Changes• Planet ($PL) Partners With Laconic To Deliver AI-Powered Forest Carbon Insights• FCC Issues 15-Year Renewal of Globalstar’s ($GSAT) Blanket Mobile Earth Terminal Authorization• Telesat ($TSAT) & MDA Space ($MDA) Complete Key Milestone for LEO Lightspeed Constellation• AST SpaceMobile ($ASTS) & Cadence ($CDNS) Collaborate To Advance the Space-Based Cellular Broadband Network• Anduril & OpenAI Partner To Advance AI Leadership and Protection of US & Allied Forces• Trump Administration Nominates Jared Isaacman of Shift4 ($FOUR) CEO for NASA Chief• Parsons ($PSN) & Globalstar ($GSAT) Partner To Demonstrate Software Defined Satellite Communication Solutions in LEO• Rocket Lab ($RKLB) CEO Peter Beck To Exchange 50.9M Shares of Common Stock to Convertible Preferred Stock• Rocket Lab ($RKLB) Sets Launch Window for Next Synspective Flight• Mynaric ($MYNA) Enters Into Negotiation for Further Funding with Existing Lender
Opinion
• Three VC Investors Weigh In on the State of Investing in Space• Trump’s Choice for NASA Will Help the Space Industry• Jeff Bezos Believes Blue Origin Will Be Bigger Than Amazon ($AMZN)• Rocket Lab’s ($RKLB) $1B Backlog Powerhouse• From Data to Dollars: Planet Labs ($PL) Expanding Universe• Viasat ($VSAT): A Mispriced Space Play
Earnings Calendar
• $PL: Dec 9 - After Market Close
*Company confirmed dates only.