Sierra Space valued at $4.5 billion after latest funding

By Reuters

<div> <p> – Sierra Space said on Friday it was valued at $4.5 billion in fresh capital from investors led by venture firms General Atlantic, Coatue and Moore Strategic, in what was one of the biggest funding rounds for a company in the aerospace sector.</p> <p>Funds and accounts managed by BlackRock Private Equity Partners, AE Industrial Partners and others also participated in the round, which brought in $1.4 billion for Sierra Space.</p> <p>The commercial spaceflight wing of defense contractor Sierra Nevada Corp, Sierra Space aims to make space transportation affordable in the near future. </p> <p>The company is also developing what it calls a Dream Chaser Spaceplane, which is under a <span class="caps">NASA</span> contract to perform cargo resupply missions to the International Space Station.</p> <p>The idea of commercial space travel has been soaring in popularity, with high-flying companies like Richard Branson’s Virgin Galactic Holdings Inc and Jeff Bezos’s Blue Origin potentially vying for wealthy customers to pay a small fortune to experience the exhilaration of space travel. Both billionaires went on suborbital joyrides earlier this year.</p> <p>Morgan Stanley estimates that the space economy could be worth $1 trillion by 2040.</p> <p>Sierra Space said it intends to use the funds to speed up development of its Dream Chaser Spaceplane. </p> <p>It has also forged a partnership with Blue Origin to develop and operate a commercial space station in low earth orbit. Backers for the orbital reef project include Boeing and Redwire Space. </p> <p/> </div>