Baillie Gifford investment helps SpaceX raise over $1 billion this year
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Private rocket company SpaceX has raised over $1 billion since the beginning of the year with the help of a $71.4 million capital injection from Scottish investment manager Baillie Gifford.
The company, owned by billionaire Elon Musk, is accelerating its fundraising as it aims to launch a network of nearly 12,000 low-orbit satellites providing Internet access around the world.
A filing seen by CNBC reveals that SpaceX has raised $1.02 billion in 2019, more than the $900 million it sought over the course of two equity rounds in December/January and April.
Baillie Gifford now holds £54 million (around $71.4 million) in SpaceX shares across its Scottish Mortgage, US Growth and Edinburgh Worldwide investment trusts.
Elon Musk has said SpaceX now has “sufficient capital to get to an operational level” for its satellite programme, Starlink.
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