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Sierra Space raised a $1,400,000,000 Series A funding round in November.
Sierra Space is planning to nearly double its workforce by creating 1,000 new jobs by the end of the year.
AE Industrial Partners participated in Sierra Space’s $1,400,000,000 Series A funding round led by General Atlantic, Coatue, and Moore Strategic Ventures in November.
Orbital Reef is led by Blue Origin and Sierra Space and has been selected by NASA for a funded Space Act Agreement to collaborate on designing a commercially owned and operated space station in low Earth orbit.
The Dream Chaser spaceplane developed by Sierra Space is designed to provide runway landings anywhere in the world for crew and cargo returning from low Earth orbit.
Both LIFE and Dream Chaser are part of Orbital Reef, the commercial space station concept announced 2021-10-25 by a team that includes Sierra Space, Blue Origin, Boeing, and Redwire.
Sierra Space currently has about 1,100 employees and plans to double its workforce in the next 18 months.
About two thirds of the Series A funds will be used for work on Dream Chaser, the lifting-body vehicle Sierra Space is building to transport cargo to the International Space Station starting in late 2022.
The funding raised in Sierra Space’s Series A round will support company operations through 2024.
Sierra Space raised $1,400,000,000 in a Series A financing round that values the company at $4,500,000,000.
General Atlantic, Coatue, and Moore Strategic Ventures led Sierra Space’s Series A round with participation from funds and accounts managed by BlackRock Private Equity Partners, AE Industrial Partners, and various strategic family offices.
Sierra Space is expanding its presence in Florida and is working with NASA and state officials on a proposed facility at Kennedy Space Center for servicing and maintenance of Dream Chaser vehicles.
SNC spun off its space division, which was established in 2008, into Sierra Space in April to allow Sierra Space to take outside investment.
Sierra Space will use part of the Dream Chaser funding to develop a crewed version of the vehicle that could make its first flight with people on board as soon as 2025.
Sierra Space targets Orbital Reef to be on orbit, open for business, and generating revenues in 2027.
Following its NYSE debut in September, Redwire announced plans to partner with Blue Origin, Sierra Space, and Boeing to develop a commercial space station outfitted with Redwire’s advanced manufacturing capabilities.
Blue Origin and Sierra Space will develop, own, and operate a commercial space station called Orbital Reef in low Earth orbit.
An industry consortium led by Blue Origin and Sierra Space announced plans on 2021-10-25 to cooperate on the development of a commercial space station.
Sierra Nevada Corporation, the privately held parent company of Sierra Space, has invested more than $1,000,000,000 into Dream Chaser development.
Blue Origin and Sierra Space plan to develop Orbital Reef, a commercially developed, owned, and operated space station in low Earth orbit.