SpaceX

Founded by Elon Musk, SpaceX (Space Exploration Technologies Corporation) is engaged in the design, manufacture, and launch of rockets and spacecrafts. The startup manufactured Falcon 9, which is the first orbital class reusable rocket that helped the company bring down costs per launch due to the ability to refly. SpaceX claims to be the world’s leading provider of launch services and the first private company to transport cargo and astronauts to and from the International Space Station (ISS) with its Dragon spacecraft. It is also the first and only company to complete an all-civilian crewed mission to orbit. 

With Elon Musk’s plans to colonize the moon and Mars with reusable spaceships to make life multiplanetary, the startup offers commercial flights to Earth and lunar orbit and launched its first all-commercial crew to space station in April 2022. The company also offers a rideshare program, with programs starting at USD 1.1 million for 200kg to SSO (Sun Synchronous Orbit).

SpaceX is also developing the Starship launch vehicle which is dubbed as the most powerful launch vehicle on earth. Starship is the integration of SpaceX’s Starship spacecraft and Super Heavy Rocket. Standing at 120 meters tall and with a fully reusable payload capacity of 100–150 tons, Starship is a fully reusable crew and cargo transportation system meant for travel beyond earth’s orbit. In April 2023, Starship conducted its maiden launch during which the launch vehicle exploded due to a stage separation failure. The second test flight in November 2023 , despite ending in a mid-air explosion, showcased notable advancements compared to the initial flight.

In November 2023 , SpaceX acquired Pioneer Aerospace, a provider of high-speed drogue parachutes, for USD 2.2 million as part of Pioneer's bankruptcy proceedings. SpaceX aims to vertically integrate the production of drogue parachutes, allowing the company to ensure quality control of this crucial component.

Key customers and partnerships

SpaceX has secured many partnerships, with the most high profile being with NASA (in September 2022 , NASA awarded SpaceX additional crew flights to ISS) as well as other government institutions such as the US Airforce. For example, in January 2022, it won a USD 102 million Air Force contract to demonstrate technologies for point-to-point space transportation. The company was also given a USD 2.9 billion contract in April 2021 by NASA to put its astronauts on the moon for the first time since 1972. Adding a modification–known as option B–to this contract, SpaceX was hired to provide a second crewed demonstration landing in November 2022. 

The ESA hired SpaceX in October 2022 to launch two missions aboard Falcon 9 rocket–Euclid space telescope and Hera Probe–which was previously planned to be flown on Russian Soyuz rockets. Further, in October 2022 , SpaceX surpassed Boeing–a long standing contractor with NASA–to become NASA’s second largest vendor.

Funding and financials

SpaceX is the highest funded startup in the industry and one of the most valuable startups in the US, as of August 2022. In its latest funding round in July 2022, SpaceX raised USD 250 million in an equity round from five investors including Mirae Asset Global Investments, Alpha Dhabi and International Holding Company. While SpaceX did not disclose a change in its valuation after the round, its previous equity round raised in May 2022 increased its value to USD 127 billion, up from its last valuation of USD 100 billion from late 2021.