U.S. aerospace company Sierra Space said it has raised $550 million in a Series C funding round led by LuminArx Capital, valuing the company at $8 billion.
The company said the new funding will help increase production capacity and support expansion beyond its current satellite and spacecraft mission programs.
“Sierra Space has sharpened its focus toward national security customers by advancing solutions that strengthen American space and defense leadership, positioning the company for its next phase of growth,” said Fatih Ozmen, chair of the Sierra Space board.
The investment follows the company’s Series B funding round announced in September 2023, when Sierra Space raised $290 million at a valuation of $5.3 billion.
That earlier funding was intended to support development of the company’s Dream Chaser spaceplane and its participation in the Orbital Reef program being developed with Blue Origin.
Dream Chaser, designed as a reusable cargo spaceplane, is scheduled to make its first spaceflight later this year.
Since its Series B round, Sierra Space has also increased its focus on the national security space sector. The company established a defense division in 2025 and says it has secured more than $1.5 billion in defense contracts since 2023.
These contracts include work with the Space Development Agency and the United States Space Force.
The funding announcement comes shortly after the company named Dan Jablonsky as its new chief executive officer. Jablonsky previously led Ursa Major and Maxar Technologies.
Sierra Space said the leadership change is intended to support its next phase of growth across national security, defense, civil and commercial space markets.
