The company competing in the Google Lunar X-Prize, Moon Express, has raised $20 million in funding and announced that they have now fully financed their mission to the moon. The company made history last year as it became the first private company to receive permission to travel to the moon. Moon Express plans to launch their MX-1E spacecraft to the moon at the end of 2017 with the goal of winning the $20 million grand prize in the X-Prize competition. TechCrunch reports: If successful, Moon Express would become the first private company and the fourth entity in history to soft-land on the moon. The first three entities were all government-funded superpowers from the U.S., USSR and China. Of course to win that title, Moon Express will need to beat the other X-Prize competitors including SpaceIL from Israel, Team Indus from India (carrying the Japanese team HAKUTO as a payload), and the international team Synergy Moon. Each company has had launch contracts confirmed by X-Prize, a requirement to remain in the competition. The first company to soft-land on the Moon, travel 500 meters across its surface, and transmit high-definition video and images back to Earth will win the grand prize of $20 million. There's also $5 million up for grabs for the company that comes in second. Perhaps the most challenging of the X-Prize requirements is the deadline. To win the prizes, competitors must complete all tasks by the end of 2017. Although the X-Prize Foundation has pushed the deadline back before. What makes the Google Lunar X-Prize competition especially unique is that it required participants to obtain 90% of their funding from private sources. In theory, this would encourage profit-driven business plans, kick-starting a wave of lunar-based commercialization.