Jan 2 Reuters Elon Musk39;s SpaceX is raising 750 million in a new round of funding that values the rocket and satellite company at 137 billion from investors, including Andreessen Horowitz, CNBC reported late Monday.

Reuters had reported in November that SpaceX was in talks about an offering of mostly secondary shares that could value the company at up to 150 billion, representing a 20 increase in valuation.

SpaceX, which counts Alphabet Inc and Fidelity Investments among its investors, had raised about 1.68 billion through equity financing in June.

Spokespersons for SpaceX and Horowitz did not immediately respond to Reuters39; requests for comment. Horowitz was also a coinvestor in Musk39;s Twitter buyout deal worth 44 billion.

SpaceX has launched numerous cargo payloads and astronauts to the International Space Station for the National Aeronautics and Space Administration NASA.

Starlink, SpaceX39;s growing network of thousands of internet satellites, is looking at generating major revenue with commercialized applications such as the rollout of highspeed internet on commercial airlines.

SpaceX competes with Amazon.com founder Jeff Bezos39;s space venture Blue Origin and billionaire Richard Branson39;s Virgin Galactic.

Reporting by Aarati Krishna in Bengaluru; Editing by Sohini Goswami

Source Reuters