Elon Musk Denies SpaceX Is Raising Money At ~$10 Billion Valuation

Elon Musk and SpaceXAP Photo/Jae C. HongElon Musk, CEO and CTO of SpaceX, introduces the SpaceX Dragon V2 spaceship at the SpaceX headquarters on Thursday, May 29, 2014, in Hawthorne, Calif.

Elon Musk’s private space transportation company SpaceX has denied reports that it is raising new funding after TechCrunch claimed that its valuation is approaching $US10 billion.

The new investment was rumoured to include a $US200 million secondary investment, as well as further funding from California-based VC fund Draper Fisher Jurvetson. TechCrunch also claimed that Blumberg Capital has been connected with the latest fundraising round.

In 2012 SpaceX was estimated to be worth between $US4 to $US5 billion after carrying out a series of successful test launches. Since then, the company has expanded its range of reusable rockets. Elon Musk has previously expressed his intention to begin reusing the company’s Falcon 9 rockets as early as 2015. Earlier this month, the spaceflight company used the Falcon 9 to launch a commercial satellite into orbit,

SpaceX also announced in August its plan to build a large spaceport in Texas, from which it hopes to expand its testing and cargo operations.

But SpaceX hasn’t just set its sights on running delivery flights for NASA. Musk has ambitious plans to establish a colony on Mars using the company’s rocket technology. The Falcon Heavy Rocket, another new craft, aims to be one of the world’s most powerful spacecrafts. It could be be tested by the end of this year.

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.