Space Sierra It raised $290 million in a Series B round to scale up its Dream Chaser space plane and commercial space station project, bringing its valuation to $5.3 billion.
So far, the company has raised $1.7 billion, a record for investment in a commercial space company, Sierra said in a statement.
The equity round was co-led by three Japanese investors: one of the country’s largest banks, MUFG; Kanematsu Trading Company; and insurance giant Tokio Marine & Nichido. Existing investors in Sierra Space also participated. It was CNBC First to report News.
Japanese investors are working with the national space agency JAXA (Japan Aerospace Exploration Agency) to study market opportunities in low Earth orbit (LEO). This new investment in Sierra is a strong signal that Japanese companies intend to be prominent participants in the low-Earth orbit economy in the coming decades, especially after the retirement of the International Space Station in 2030.
Sierra Space is behind one of a growing number of commercial space station initiatives. In October 2021, the company announced that it would cooperate with Blue Origin, Boeing, and others to build a station called “Orbital Reef.” Sierra said its inflatable habitat called LIFE (Large Integrated Flexible Environment) will form one of the core components of the new station.
Sierra recently completed a series of “explosion tests” for a sub-version of the Habitat, in which the company increases the internal pressure of the unit until it explodes. The company is now looking to conduct similar tests on a large-scale LIFE habitat before launching an experimental “pathfinder” mission in 2026.
Sierra is also developing a reusable vehicle called the Dream Chaser, with the intention of using it to deliver cargo and crew to and from its station. The Dream Chaser’s first flight aboard United Launch Alliance’s Vulcan Centaur is scheduled for next year.
“As we transition our revolutionary Dream Chaser spacecraft to NASA’s cargo resupply operations to the International Space Station, we are focusing our capital on developing and operating the first commercial space station – the next step in our infrastructure in space – said Tom Weiss, Sierra CEO. , in a statement: “Growing our national security offerings and expanding our business in space systems components.”