The company is already in Dizraptor’s portfolio since Sep 10. New offerings are possible in the future
About the Company
We have chosen to invest in a pioneer of the space industry. It designs, manufactures and launches the most up-to-date rockets and spacecrafts, with the ultimate goal to revolutionize space transportation and make life multiplanetary.
It also aspires to become the leading and first satellite service provider delivering high-speed Internet to users from all around the world. As of January 2023, the company has launched 3,600 satellites into orbit. The system is now active on all continents, having reached over 1,000,000 active users.
The company is operating in a number of large and growing markets. Among them are deep space exploration market (to reach $700B by 2030, Morgan Stanley Research), space launch services market (to reach $32B by 2027, Allied Research), satellite internet market (and $120B in annual revenue projected for the company's satellite internet division).
Financials and Valuation
Their last reported revenue of $2B was in 2019, but the company does not disclose any financial information. In 2022 it completed 61 launches, and it is estimated that the company generates $60M per launch. That said, it generated $3.6B in the launch business.
In January 2023 the company raised a $750M investment round at a $137B valuation, at a price of $77 per share. It has raised a total of $10B. In October 2021 the company held a secondary sale of existing shares at the valuation of $100.3B. It made it the second-most valuable private company in the world (behind China's ByteDance).
The company is operating in a high-risk growing market. It is burning a lot of cash while having high overall costs. Given the rising interest rates environment, it might experience problems in fundraising.
In some business segments the company may be faced with intense competition. Its satellite network program competes with Amazon, who’s planning to launch its Kuiper network with more than 3,000 satellites; though it hasn’t yet revealed its production plans or launched any satellites yet.
Speaking of space exploration and Mars colonization, a lot of issues need to be solved – high levels of radiation, thin atmosphere, food and water production in space and others. However, whether or not they are able to explore planets, they are in the best position to give it a shot.