A lot of their recent launches have been for their internet constellation, StarLink. Given the nature of this constellation, they have to do a large number of l

A lot of their recent launches have been for their internet constellation, StarLink. Given the nature of this constellation, they have to do a large number of launches before it is operational and can take paying customers. There is a large upfront cost. Its a bit of a chicken and the egg scenario with launch services right now. The fact that these new internet constellations were coming killed demand for the large, expensive one-off communications satellites that was a large part of SpaceX's business. Fundraising like this gets them across the chasm.