Sierra Space, a subsidiary of aerospace company Sierra Nevada Corporation has reached a $4.5 billion valuation after raising $1.4 billion in new capital. The company is working on the Dream Chaser spaceplane, as well as the Orbital Reef space station in partnership with Jeff Bezos.
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As reported by CNBC, the firm raised $1.4 in capital from investors like General Atlantic, Coatue, Moore Strategic Ventures, BlackRock, and AE Industrial Partners. The investment increased Sierra Space's valuation to $4.5 billion.
Sierra Space CEO Tom Vice said in a statement: “We are building the next generation of space transportation systems and in-space infrastructures and destinations that will enable humanity to build and sustain thriving civilizations beyond Earth.”
This is the first outside investment for the company since its creation in April this year by the Sierra Nevada Corporation.
The company is currently developing the Dream Chaser, which is expected to take off in 2022 on the new Vulcan Centaur rocket. It will dock at the international space station, drop off its cargo, collect science experiments, and land gently on a runway in Cape Canaveral several days later –It will do so without a crew.
The Dream Chaser by Sierra Space will mark the first time that a reusable space shuttle reaches orbit and docks at the space station since the Atlantis almost a decade ago. The STS-135 mission was the 135th and final mission of the now legendary NASA's Space Shuttle program.
“Dream Chaser is a reusable spacecraft that, in appearance resembling a miniaturized NASA Space Shuttle, is built to launch atop a traditional rocket and land on a runway like an airplane,” CNBC reports.
Orbital Reef –the other Sierra Space key project– is a privately-owned and operated space station in low earth orbit that is set to open in the second half of this decade. It would provide the possibility for anyone to have their own space in orbit, and will include space transportation and logistics, space habitation, equipment accommodation, and operations.
“Blue Origin is Sierra Space’s primary partner for Orbital Reef, with the team also including Boeing, Redwire Space, and Genesis Engineering. The station is planned to begin deploying in space later this decade, and is designed to be habitable for up to 10 people.”