Business

Sierra Space Raises $ 1.4 Billion at $ 4.5 Billion Valuation

Rendering of the Ocean Reef space station in orbit.

Blue origin

Sierra Space, a subsidiary of private aerospace contractor Sierra Nevada Corporation, has raised $ 1.4 billion as the company expands its space transportation portfolio.

The company’s valuation jumped to $ 4.5 billion after a hike involving investors including General Atlantic, Coatue and Moore Strategic Ventures, as well as private equity firms BlackRock and AE Industrial Partners.

“We are building the next generation of space transportation systems, as well as space infrastructure and destinations that will enable humankind to create and sustain prosperous civilizations beyond Earth,” Tom Weiss, CEO of Sierra Space, said in a statement.

The capital represents the first external investment in Sierra Space since the founding of the Sierra Nevada Corporation subsidiary in April.

Sierra Nevada’s Dream Chaser spacecraft in orbit

Source: Sierra Nevada Corporation.

Sierra Space has two major projects in development: the Dream Chaser spacecraft, which it develops to deliver cargo and ultimately crew to low Earth orbit, and the Orbital Reef space station, which Sierra Space has partnered with Jeff Bezos’ Blue Origin. …

Dream Chaser is a reusable spacecraft that looks like a miniature NASA space shuttle, it is built to launch on a traditional rocket and land on a runway like an airplane. Sierra Space plans to launch its first cargo mission, Dream Chaser, in the next year or so.

Blue Origin is Sierra Space’s primary Orbital Reef partner, and the team also includes Boeing, Redwire Space and Genesis Engineering. The station is slated to launch into space later this decade and is designed to accommodate up to 10 people.


Source link

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button