Sierra Space

Founded in 2021, Sierra Space is an independent commercial space startup that was created as a result of the transition of defense contractor Sierra Nevada Corporation’s Space Systems business area to an independent company.

The company is developing the Dream Chaser Spaceplane, claimed to be the world’s first commercial spaceplane and only winged commercial spaceplane, with a NASA contract to fly cargo resupply trips to the ISS beginning late 2023. The Dream Chaser was set to launch early 2023 and is reusable and capable of a low, 1.5 g-force re-entry – for crew and cargo transportation – and can land on compatible commercial airport runways around the globe. The company is also developing the LIFE habitat (Large Integrated Flexible Environment), an inflatable three-story commercial habitation and science platform designed for low Earth orbit. The LIFE habitat has the capacity to sleep four astronauts, with additional room for science experiments, exercise equipment, a medical center, and Sierra Space’s Astro Garden system, which can grow fresh produce for astronauts.

Key customers and partnerships

In October 2021, Sierra Space and Blue Origin announced that the companies are developing Orbital Reef, a commercial space station, backed by players including Boeing, Redwire Space, Genesis Engineering Solutions, and Arizona State University. Orbital Reef will be a commercially developed, owned, and operated space station to be built in low Earth orbit. The Dream Chaser and LIFE Habitat are critical components for Orbital Reef. In October 2022 , the company signed a Memorandum of Understanding (MoU) with IBM to collaborate on space technology and software platforms for Sierra Space’s entire range of spacecraft and infrastructure. Sierra Space partnered with Keystone Space Collaborative in November 2022 , to advance space economy and for the development of Orbital Reef.

In February 2023 , the company signed a five-year MoU with the University of Notre Dame for the exploration of space-based research and development in low-earth orbit (LEO), which includes identifying potential opportunities for R&D payloads, conducting microgravity experiments, along with designing and developing hardware components to facilitate experimental objectives and commercialization of research findings. Further, in April 2023, Sierra Space entered a long-term strategic partnership with engineering and manufacturing company ILC Dover to accelerate the development of next-generation space infrastructure. The companies were to collaborate on expediting the deployment of LIFE modules, as well as developing space suits for extra and intra-vehicular activity.

In July 2023 , Sierra Space secured a USD 22.6 million Air Force contract to advance the development of its VR35K-A engine for future launch vehicles. The contract will facilitate further work on the engine, including refining its flight-weight engine component design. Funding and financials

Following the spin-off from Sierra Nevada Corporation, Sierra Space started with USD 3 billion in active contracts and with the target of reaching USD 4 billion in revenue within a decade. At the time of spin-off, Sierra Nevada Corporation’s space business was generating ~USD 400 million in annual revenue.

In September 2023 , the company raised USD 290 million in a Series B round. The funding was co-led by Japanese investors MUFG, Kanematsu Corporation, and Tokio Marine & Nichido, with participation from existing investors. The funding will help scale Sierra Space's Dream Chaser spaceplane and commercial space station projects. The company plans to focus on the development and operations of the first commercial space station, as well as the growth of its national security offering and its space systems components business. It aims to conduct tests on a full-scale LIFE habitat and launch a demonstration mission in 2026.