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

Elon Musk's private space transportation company SpaceX is raising new funding, and TechCrunch reports that its valuation is approaching $10 billion.

The new investment is rumored to include a $200 million secondary investment, as well as further funding from California-based VC fund Draper Fisher Jurvetson. TechCrunch also claims that Blumberg Capital has been connected with the latest fundraising round.

In 2012 SpaceX was estimated to be worth between $4 to $5 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.