Sierra Space, a leading pureplay commercial space company building the first end-to-end business and technology platform in space with $3.4 billion in customer contracts, announced today it has closed a $290 million Series B funding round. The round brings the company's total capital raised to $1.7 billion, the largest ever capital raise by a commercial space company over the combined Series A and B rounds. This latest milestone elevates Sierra Space's valuation to $5.3 billion and reaffirms the company's position as a leader in the new global space industry.

The round is co-led by Japan's largest bank, MUFG, Kanematsu Corporation, a Japanese trading company and Tokio Marine & Nichido Fire Insurance, Japan's largest property and casualty insurance group with participation from Sierra Space's existing investors. The companies are already participating in a JAXA (Japanese Aerospace Exploration Agency) study to explore how to conduct activities in LEO as the ISS approaches the end of service.

Sierra Space is a leading, pureplay commercial space company at the forefront of innovation and the commercialization of space in the Orbital Age™, building an end-to-end business and technology platform in space to benefit life on Earth. With more than 30 years and 500 missions of space flight heritage, the company is enabling the future of space transportation with Dream Chaser®, the world's only commercial spaceplane, and is bringing LIFE™ (Large Integrated Flexible Environment) to Low Earth Orbit with its modular, three-story commercial habitation and science platform. Sierra Space also builds and delivers a host of systems and subsystems across solar power, mechanics and motion control, environmental control, life support, propulsion and thermal control, offering myriad space-as-a-service solutions for the new space economy.