Sierra Space, a subsidiary of Sierra Nevada Corporation (SNC) and a participant in the Odyssey Vintage Altaroc Odyssey , has just completed a new $290 million funding round. This new co-financing round was led by three Japanese companies: MUFG Bank, the insurer Tokio Marine & Nichido Fire, and the international trading giant Kanematsu, which join long-standing investors such as General Atlantic. Sierra Space has raised a total of $1.7 billion since its founding in 2021 and has just surpassed a valuation of $5.3 billion.
The company intends to use this new round of funding to step up flight preparations for its Dream Chaser, which will begin testing next year and will eventually refuel the International Space Station (ISS).
At the same time, Sierra Space is working on the deployment of its commercial space station, Orbital Reef, where it aims, in this project co-developed with Jeff Bezos' company Blue Origin, to offer manned missions in space.
Sierra Space's latest round of funding comes at a time when global investment in space companies rose by 17% in Q3 2023. In fact, they reached $3 billion, spread across 103 companies, as revealed in Space Capital's latest report.
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