Sierra Space’s Monumental Series B Round
Sierra Space, a prominent figure in the commercial space industry, has successfully secured $290 million in its Series B funding round. This substantial investment has elevated the company’s valuation to an impressive $5.3 billion. To date, Sierra Space’s total funding has reached a staggering $1.7 billion, setting a new benchmark for investment in commercial space enterprises.
Japanese Investors Take the Lead
The equity round witnessed significant participation from three major Japanese investors MUFG, one of Japan’s largest banks; Kanematsu Corporation, a renowned trading company; and the insurance behemoth, Tokio Marine & Nichido. These investors have previously collaborated with JAXA (Japan Aerospace Exploration Agency) to explore market opportunities in low Earth orbit (LEO). Their investment in Sierra Space underscores Japan’s ambition to play a pivotal role in the LEO economy, especially post the retirement of the International Space Station in 2030.
Orbital Reef The Future Commercial Space Station
Sierra Space is not just another name in the commercial space sector; it’s at the forefront of several groundbreaking initiatives. In October 2021, the company unveiled its collaboration with industry giants like Blue Origin and Boeing to construct a state-of-the-art space station named Orbital Reef. Sierra Space’s innovative inflatable habitat, known as LIFE (Large Integrated Flexible Environment), is set to be a central component of this new station. The company has been rigorously testing this habitat and aims to launch a demonstration mission by 2026.
Dream Chaser Sierra’s Reusable Space Vehicle
In addition to the Orbital Reef, Sierra Space is also channeling its resources into the development of Dream Chaser, a reusable space vehicle. The primary objective of this vehicle is to facilitate the transportation of cargo and crew to and from the space station. The maiden flight of Dream Chaser is eagerly anticipated next year, set to launch with the United Launch Alliance’s Vulcan Centaur.
A Word from Sierra’s CEO
Tom Vice, the CEO of Sierra Space, expressed his enthusiasm about the company’s future endeavors. He emphasized the transition of their revolutionary Dream Chaser spaceplane into operational phases for NASA cargo resupply missions. Furthermore, he highlighted the company’s commitment to developing the first commercial space station and expanding their national security offerings.
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