Elon Musk's SpaceX raises over $1 billion this year as internet satellite production ramps up

Elon Musk's venture has brought in $1.02 billion since the beginning of the year, more than SpaceX was seeking.

The funds are key, as Spacex must finance its daunting plan to provide internet from a network of thousands of small satellites.SpaceX has raised just over $1 billion in financing since the beginning of the year, a filing seen by CNBC revealed on Friday, as the company seeks backing for its daunting plan to provide internet from a network of thousands of small satellites.on Thursday evening.

SpaceX continues to accelerate its fundraising, as SEC filings indicate the company sought equity rounds of $500 million in January and $400 million in April. CEOThe filing on Friday, an amendment of the company's April filings, shows that SpaceX did bring in more funding than expected. The company raised $1.02 billion since the beginning of the year – greater than the $900 million it sought across the two rounds.

Build it and they will come!! SpaceJunk PiedPiper BayAreaBS

Much better then Tesla.

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