Blue Origin raised outside capital in its first-ever funding round, valuing the company at $130 billion, according to multiple reports on Wednesday, as Jeff Bezos’ rocket company seeks to challenge SpaceX.

Blue Origin raised $10 billion in the funding round, $4 billion of which comes from Coatue Management and $2 billion from Bezos himself, while the remaining $4 billion is expected from other institutional investors, the New York Times reported.

Several investors are expected to participate in the remaining $4 billion, drawing significant demand, according to CNBC, citing people familiar with the matter.

Prospective investors are interested in Blue Origin’s future projects, including TeraWave, the company’s satellite communications network that was unveiled in January, according to the Times.

Learn more about your ad choices. Visit megaphone.fm/adchoices