SpaceX said in a regulatory finding that it has raised $1.68 billion in equity financing.

The company is seeking to raise $1.725 billion in new funding round, disclosed in securities filings on Monday, as SpaceX is investing heavily in its Starship rocket development and Starlink broadband internet satellite constellation.

SpaceX received a long-awaited clearance from the Federal Aviation Administration earlier in the day that its Boca Chika, Texas, Starship development site had no significant environmental impact, removing an obstacle that delayed the development of the Mars rocket.

The FAA imposed more than 75 conditions on the company, a result SpaceX believes is “one step closer to Starship’s first orbital flight test,” the company wrote on Twitter, referring to one of the milestones of Starship’s first flight into space key progress.

Since 2019, SpaceX’s Starlink satellite division has launched about 2,600 satellites into space, aiming to provide broadband internet to the world.