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Elon Musk's SpaceX raises over $1 billion this year as internet satellite production ramps up
* SpaceX has raised more funding than previously thought.
* 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.
The funds are key, as SpaceX just launched the first full mission of its Starlink satellites on Thursday evening. Starlink is the name of the network SpaceX is building, which, once complete, would consist of 11,943 satellites flying close to the planet in what is called low Earth orbit. Starlink would ultimately be an interconnected internet satellite network, also known as a "constellation," that beams high-speed internet to anywhere on the planet.
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. CEO Elon Musk had said those rounds were oversubscribed in terms of investor interest.
The filing on Friday, an amendment of the company's April filings, shows that SpaceX did bring in more funding than expected. - CNBC
This year? We're only five months into 2019!
Go SpaceX!!!
