Blue Origin Raises $10 Billion in First External Funding Round

Blue Origin is raising $10 billion in external funding for the first time in its history. The Jeff Bezos-founded rocket company is targeting a $130 billion valuation in the deal, according to a memo sent to staff.

In an email to employees on Wednesday, Blue Origin CEO Dave Limp described the investment as a significant milestone. “We are entering a period where opportunities in space are expanding rapidly,” Limp told staff. He added that “securing this investment will be a clear vote of confidence from investors and validates the ambition and credibility of what we’re building for the long term.

“The development marks a major shift for Blue Origin. Bezos founded the company in 2000 and has self-funded it ever since. This round, which has not been previously reported in full detail, is led by asset management firm Coatue Management. It includes a $2 billion contribution from Bezos himself.

The move comes as Blue Origin works to close the gap with its rival SpaceX. Elon Musk’s SpaceX has completed hundreds of rocket launches, while Blue Origin has conducted only a handful of orbital tests.

Blue Origin did not immediately respond to requests for comment. The news first surfaced through reports citing Limp’s internal memo.