SpaceX has confirmed a $1bn (£660m) investment from Google and Fidelity Investments to boost innovation in space transport and satellite manufacturing.
The cash injection represented a near-10% stake in the spaceship manufacturer, valuing it close to $10bn (£6.6bn).
SpaceX, which stands for Space Exploration Technologies, hit the headlines earlier this month when its Falcon 9 rocket launched supplies to the International Space Station but its efforts to land the booster on a barge, in a bid to reuse it, failed.
The company has huge ambitions, with its founder Elon Musk aiming to fly people to Mars within the next 12 years.
Google's investment is more about growing revenue closer to home, with the owner of the largest internet search engine and digital ad network buying out satellite firm Skybox Imaging last year.
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Gallery: SpaceX's Reusable Rocket
SpaceX, a private aerospace company, wanted to try and land a Falcon 9 rocket on a platform in the ocean as part of its efforts to make the craft reusable
SpaceX founder Elon Musk said being able to use rockets again would cut the cost of space travel
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