Washington, July 8 (ANI): Rocket company Blue Origin is seeking outside funding for the first time as competition intensifies in the commercial space industry following rival SpaceX’s blockbuster public debut last month.
According to a New York Times DealBook report, the Jeff Bezos-owned company is seeking to raise $10 billion at a pre-money valuation of $130 billion.
The fundraising effort comes amid growing investor interest in privately held aerospace companies. SpaceX’s initial public offering (IPO) attracted strong demand from both retail and institutional investors.
Asset manager Coatue Management is expected to contribute $4 billion, while Bezos could invest an additional $2 billion, the report said.
Founded by Bezos in 2000, Blue Origin has secured billions of dollars in contracts from NASA and the U.S. Space Force as it competes with SpaceX in the reusable rocket market.
Blue Origin is also a key partner in NASA’s Artemis program, which aims to return humans to the moon. The company is responsible for designing, developing, testing, and verifying the Blue Moon lunar lander for recurring missions to the moon’s surface.
However, the program suffered a setback in May when the company’s New Glenn rocket exploded during a prelaunch engine test at Cape Canaveral Space Force Station in Florida.
“We experienced an anomaly during today’s hotfire test. All personnel have been accounted for. We will provide updates as we learn more,” the company said in a post on X.
Speaking to CNBC in May, Bezos said it was an appropriate time to consider bringing outside investors into Blue Origin.
The successful SpaceX IPO underscored investors’ confidence in the long-term potential of private aerospace companies as they continue to secure an increasing number of government contracts.
Unlike SpaceX, which also owns the satellite internet service Starlink and the artificial intelligence company xAI, Blue Origin is focused primarily on launch services and space exploration programs. (ANI)
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