spacetoday.net: Sierra Space raises $550 million for satellite production

Posted: Sun, Mar 8, 2026, 9:46 AM ET (1346 GMT)
Sierra Space raised $550 million to support its new focus on national security space. LuminArx Capital Management led the Series C round that valued the company at $8 billion, with participation from existing investors. The company says the new funding will allow it to "further focus on its national security space efforts." Sierra Space was spun out of Sierra Nevada Corporation in 2021 and was initially devoted to development of the Dream Chaser spaceplane. In recent years, the company has expanded into the defense market, including winning contracts to build missile-tracking satellites for the Space Development Agency. Sierra Space recently hired longtime industry executive Dan Jablonsky as its CEO.