New equity round reportedly values Sierra Space at $5.0 billion

on Sep 25, 2023
  • Sierra is raising $300 million in a funding round led by Japanese consortium.
  • The equity round values the aerospace company at about $5.0 billion.
  • Sierra Space had raised $1.4 billion at a $4.5 billion valuation last year.

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Sierra Space is reportedly raising about $300 million in a funding round led by MUFG, Kanematsu and Tokie Marine.

Sierra had raised $1.4 billion last year

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Its previous investors as well as insiders also participated in the equity round that valued the aerospace firm at about $5.0 billion, as per people familiar with the matter.

Sierra Space had raised $1.4 billion from the likes of BlackRock, Coatue, General Atlantic, AE Industrial Partners and Moore Strategic Ventures in 2021. That round had valued it at about $4.5 billion.

Citigroup is serving as an advisor on the transaction, as per CNBC that first reported this news. Sierra Space is a subsidiary of Sierra Nevada Corporation.

Sierra Dream Chaser to fly later this year

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Sierra Space will likely make the official announcement by the end of this week, the anonymous sources added. So far, though, it has refrained from commenting on the CNBC report.

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The Colorado-based company is currently awaiting the first flight of its Dream Chaser. The reusable lifting-body spaceplane is expected to berth to the International Space Station in December.

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Sierra is among the handful of companies committed to building a private space station. The space technology firm is slated to fly its Large Integrated Flexible Environment or LIFE habitat on a demonstration mission in 2026.


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