Sierra Space, a company that works in space exploration, has recently secured $290 million in funding through its Series B round. With its versatile Dream Chaser spaceplane and groundbreaking space station initiatives, Sierra Space is redefining the future of space exploration.
This funding boost brings their total investment to $1.7 billion and values the company at $5.3 billion. This achievement represents the largest amount of money a commercial space company ever raised in its initial funding rounds.
This new injection of funds opens up exciting opportunities for Sierra Space. They can now form crucial partnerships on a global scale and speed up their plans to create groundbreaking space technology. One of their ongoing projects involves the Dream Chaser spaceplane, transitioning from development to performing regular missions.
These missions primarily focus on supplying cargo to the International Space Station (ISS) for NASA. Sierra Space has also been diligently working on building the first-ever commercial space station for the past five years, achieving significant milestones in design and testing.
“As we transition our revolutionary Dream Chaser spaceplane into operations for NASA cargo resupply missions to the International Space Station, we focus our capital deployment to the development and operations of the first commercial space station – the next step in our in-space infrastructure – the growth of our national security offering and scaling our space systems components business,” said Tom Vice, CEO of Sierra Space.
Full-scale testing of this project is set to finish by the end of this year, firmly establishing Sierra Space as a leader in developing commercial space stations in Low Earth Orbit (LEO) and deep space.
Japanese Investment Giants Lead the Way
The Series B funding was co-led by prominent Japanese companies, including MUFG, Japan’s largest bank, the Kanematsu Corporation, a significant Japanese trading company, and Tokio Marine & Nichido Fire Insurance, Japan’s largest property and casualty insurance group.
These influential Japanese companies are already actively collaborating with Sierra Space as part of a study by the Japanese Aerospace Exploration Agency (JAXA). This study aims to explore activities in Low Earth Orbit (LEO), especially as the ISS nears the end of its operational life.
This infusion of funding also strengthens Sierra Space’s growing ties with Japan. They are considering using Oita Airport as a landing site for their Dream Chaser spaceplane in collaboration with Oita Prefecture, Kanematsu, and Japan Airlines. Furthermore, Sierra Space is forging a solid partnership with Mitsubishi Heavy Industries to pioneer various technologies for use in space.
“MUFG aspires to help all our stakeholders take the next step forward, and we believe this should serve as the starting point for all business activities. Sierra Space Corporation’s aim to build a platform in space that will benefit life on Earth is the very embodiment of this concept. MUFG has decided to invest in Low Earth Orbit to support commercialization, create new industries, and resolve social issues,” said Junichi Hanzawa, President & CEO of MUFG Bank, Ltd.
Versatile Dream Chaser Spaceplane
Sierra Space’s flagship project, the Dream Chaser spaceplane, is incredibly versatile. It comes in three versions, designed for carrying cargo, crewed missions, and national security operations, serving domestic and international needs.
The spacecraft can transport crew and cargo to and from Low Earth Orbit (LEO) and land gently on compatible commercial runways worldwide. The Dream Chaser’s NASA contract for cargo resupply missions to the ISS is a testament to its capabilities and contributes significantly to Sierra Space’s total contracts worth $3.4 billion.
Sierra Space’s Vision for the Future
Sierra Space, based in Louisville, Colorado, is a leader in innovating space exploration during the “Orbital Age™.” Their mission is to create a complete business and technology platform in space to benefit life on Earth.
With over 30 years of experience and a track record of more than 500 missions, Sierra Space is paving the way for the future of space travel. Their Dream Chaser spaceplane, the world’s only commercial spaceplane, and their modular, three-story commercial habitation and science platform, known as LIFE™ (Large Integrated Flexible Environment), are groundbreaking solutions that promise to change the way we explore space.
Sierra Space also plays a crucial role in developing and delivering various systems and components for space, including solar power, mechanics, environmental control, life support, propulsion, and thermal control, offering a wide range of space services to meet the demands of the new space era.
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