2023-10-04 06:00:14
Sierra Space has just reached a major milestone in the development of its commercial space station and other orbital technologies. After raising $290 million in its latest funding round, the company now has a valuation of $5.3 billion.
Artistic view of the Orbital Reef commercial space station resulting from a collaboration between Sierra Space and Blue Origin (Blue Origin is a private company specializing in sub-orbital flights, like…).
Credit: Sierra Space
Created in 2021 following its separation from Sierra Nevada Corporation, Sierra Space Corporation announced that it had raised this impressive sum. This financing brings the company’s total investments to 1.7 billion dollars over two rounds, an industry record according to sayings of the company. The financing round was co-led by a Japanese strategic partnership, including MUFG Bank, Kanematsu and Tokio Marine & Nichido Fire Insurance. Sierra Space CEO Tom Vice expressed his enthusiasm for this enhanced collaboration with Japanese investors.
The funds raised will be used for several ambitious projects. For five years, Sierra Space has been working on a commercial space station and plans to begin full-scale testing by the end of 2023.
Artistic view of the Dream Chaser in low Earth orbit.
Credit: Sierra Space
The Dream Chaser, a space plane in development, is another flagship project of Sierra Space. Intended for missions in low Earth orbit, it will be able to transport crews and cargo to destinations such as the International Space Station (The Moon, the only satellite…). International Space Station (International Space Station or ISS) is a habitat…) (ISS). The Dream Chaser will require ULA’s Vulcan Centaur rocket for launch and will be capable of re-entering the atmosphere and landing on a runway, like NASA’s space shuttle.
Sierra Space is targeting a first flight of the Dream Chaser in 2024 from the Kennedy Space Center in Florida, under a supply mission contract with NASA for the ISS. But Sierra Space’s ambitions don’t stop there. The company is also considering manned missions to its own space station, Orbital Reef, a project co-developed with Jeff Bezos’ Blue Origin (Jeffrey Preston Bezos (January 12, 1964 – ) is the billionaire founder and CEO…).
Sierra Space’s presence in Japan also appears to be expanding. The company is exploring the possibility of using Oita Airport as a landing site for the Dream Chaser, in partnership with Oita Prefecture, Kanematsu and Japan Airlines.
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