The round is said to have valued Sierra Space at $300 million.

Sierra Space, a subsidiary of private aerospace contractor Sierra Nevada Corporation, is in the final stages of securing a funding round of nearly $300 million, which values the company at approximately $5 billion. Japanese investors, including MUFG, Kanematsu, and Tokio Marine, are leading this equity round, along with substantial participation from existing investors.

The focus of Sierra Space is currently on advancing its Dream Chaser spaceplane, designed for cargo and crew missions to low Earth orbit. The first launch of the Dream Chaser, initially scheduled for late last year, was delayed due to issues with the development of United Launch Alliance’s Vulcan rocket.

As a reusable spacecraft, Dream Chaser operates in low Earth orbit. Its design closely resembles that of a scaled-down NASA Space Shuttle and it is constructed to launch from a conventional rocket and return to Earth by landing on a runway, much like an airplane.

In November 2021, Sierra Space raised a $1.4 billion Series A round led by General Atlantic, Coatue and Moore Strategic Ventures, with participation from funds and accounts managed by BlackRock Private Equity Partners and AE Industrial Partners. The round valued the startup at $4.5 billion.

Sierra Space also has plans for a private space station, with a “pathfinder” demonstration mission for its LIFE habitat set for 2026.

Related Story:  Sierra Space Raises $1.4B For Spaceplane And Habitat Station