Sierra Space raises $1.4 billion at $4.5 billion valuation
Sierra Space, a Louisville, Colo.-based commercial space transportation and infrastructure company, raised $1.4 billion in Series A funding at a $4.5 billion valuation.
Why it matters: This is one of the largest VC raises ever for an aerospace company, and moves Sierra Space closer toward its ultimate goal of building a private space station in orbit. In the meantime, it's also working on low-orbit spaceplanes that can deliver cargo and, eventually, crew.
Investors: Coatue, General Atlantic and Moore Strategic Ventures co-led, and were joined by BlackRock, AE Industrial Partners and family offices of Stanley Druckenmiller and Vincent Viola.
History: Sierra Space was formed earlier this year via a spinout from Sierra Nevada Corp., which said the move was partially designed to secure outside investment.
The bottom line: "Sierra Space's planned space station, Orbital Reef, is a joint project with Jeff Bezos's Blue Origin and may be operational by 2027. Companies seeking zero-gravity or microgravity environments for pharmaceutical research, 3D-printed human organs, or work in fiber-optics, energy and semiconductors, have expressed interest in station, [CEO Tom] Vice said." — Gillian Tan, Bloomberg