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SpaceX has denied a Techcrunch report posted this morning stating the space startup is worth $10 billion after raising funding that includes a secondary investment around $200 million, plus further funding from Draper Fisher Jurvetson and Blumberg Capital.

“SpaceX is not currently raising any funding nor has any external valuation of that magnitude or higher been done,” SpaceX communications director John Taylor wrote in an email to Gigaom. “The source in this report is mistaken.”

The funding news had appeared to confirm an April Quartz article that put SpaceX’s funding ambitions between $50 million and more than $200 million.

SpaceX has raised $245.5 million since its founding in 2002. Its last funding round took place in 2012, when it was valued between $4 and $5 billion.

SpaceX is on the verge of dramatically lowering its launch costs by reusing its rockets. Generally, when a rocket returns to Earth it drops into an ocean and breaks apart. The space startup has been testing landing legs on its Falcon 9 craft, which it will soon move from water landings to ground landings. SpaceX has more than 35 launches planned through 2018.

This post was updated at 5:05 p.m. PT to indicate that SpaceX denied the earlier Techcrunch report.