Sierra Space Secures $290 Million in Series B Funding, Valuation Hits $5.3 Billion
Sierra Space has successfully raised $290 million in a Series B funding round, boosting the company's valuation to $5.3 billion. The investment was co-led by Japan’s largest bank, MUFG, alongside existing investors Kanematsu and Tokio Marine. This new capital injection is earmarked for advancing the development of the Dream Chaser spaceplane and the Orbital Reef commercial space station project. The company is preparing for Dream Chaser's inaugural cargo mission to the International Space Station, scheduled for 2024. This funding solidifies Sierra Space's financial position as it aims to build a platform for the burgeoning commercial space economy.
Official Source: https://aviationweek.com/space/satellites/sierra-space-raises-550m-series-c-round