Sierra Space raised $290 million in equity during its Series B funding, increasing its total investment to $1.7 billion. A Japanese consortium led the private capital infusion that elevated the commercial space company’s valuation to $5.3 billion. MUFG, Japan’s largest bank, along with Kanematsu and Tokio Marine & Nichido Fire Insurance, formed the lead investor group in the latest funding round, Sierra Space said.
The Series A funding in 2021 raised $1.4 billion, which was intended for the development of the Dream Chaser reusable orbital spaceplane further.
On behalf of his company, Tom Vice, CEO of Sierra Space, expressed excitement at building up a relationship with investors and industry partners from Japan.
“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,” Vice added.