SpaceX expects to raise $500M to $1B in Series N funding to support the Starlink constellation effort as well as the orbital flight missions of the company's SuperHeavy and Starship rockets, CNBC reported Thursday.
The funding round is also anticipated to result in a $44B valuation for SpaceX, according to documents obtained by the publication.
CNBC forecasts that Gigafund will “participate significantly” in the funding round. Prior investors include Founders Fund, Valor Equity Partners, Baillie Gifford, Fidelity and Google.
SpaceX previously said it envisions the Starlink project to contribute to a projected $1T broadband satellite market, according to CNBC.
The report comes four months after SpaceX secured a spot on NASA’s potential $7B Gateway Logistics Services contract to deliver cargo to the proposed lunar outpost.
The company also launched its Crew Dragon capsule for NASA’s Demo-2 mission in May ahead of the spacecraft’s arrival at the International Space Station last month.