TLDR
- Sierra Space closed a $550 million Series C round, valuing the company at $8 billion
- The round was led by LuminArx Capital Management, with existing investors participating
- Funding will expand production capacity and develop defense and intelligence solutions
- Sierra Space holds contracts worth up to $1.19 billion across national security programs
- The Dream Chaser spaceplane completed all manufacturing milestones, with a demo flight set for late 2026
Sierra Space, a Colorado-based defense and space technology company, has raised $550 million in a Series C funding round. The deal values the company at $8 billion.
We’ve completed a $550 million Series C equity investment, led by LuminArx Capital – with participation from our investors – valuing the company at $8 billion post-money.
This capital raise is a mandate: expand production, sharpen America’s edge in space, and deliver solutions… pic.twitter.com/QcNOLYjFJL
— Sierra Space (@SierraSpaceCo) March 5, 2026
The round was led by LuminArx Capital Management, a global alternative investment manager. Existing investors General Atlantic, Coatue, Moore Strategic Ventures, and Andalusian Private Capital also participated.
This brings Sierra Space’s total capital raised since 2021 to over $2 billion. The company’s last raise was a $290 million Series B in 2023, which valued it at $5.3 billion.
CEO Dan Jablonsky said the company is focused on scaling its national security capabilities. He cited investor confidence, customer demand, and operational readiness as aligned forces driving the company’s growth.
Sierra Space designs and builds satellites, spacecraft, and space systems for U.S. government and commercial customers. It has been involved in more than 500 missions and has over 30 years of space flight heritage.
Major Government Contracts in Place
The company holds a $450 million contract to build more than four satellites for a national security customer. It also has a Space Development Agency contract worth up to $740 million to build 18 missile warning and tracking satellites.
Sierra Space has contracts with essentially all eight space procurement agencies within the Department of Defense and Intelligence Community. These deals underpin its growing valuation and investor interest.
The fresh capital will be used to expand production capacity. It will also fund continued development of solutions for defense and intelligence missions.
LuminArx Capital co-founder Min Htoo said Sierra Space stood out among many companies evaluated in the sector. He cited its team, technical expertise, and execution track record.
Board Chair Fatih Ozmen said the company has undergone a strategic transformation since 2021. He said it has sharpened its focus toward national security customers.
Dream Chaser Spaceplane on Track
Beyond satellites, Sierra Space is developing the Dream Chaser, a reusable spaceplane. It is designed to carry cargo, and eventually crew, to low Earth orbit.
In 2025, the company completed all manufacturing and assembly milestones for the vehicle. A demonstration flight is planned for late 2026.
Sierra Space also completed Critical Design Reviews for two major national security satellite programs last year. It finished construction of a new power station facility that manufactures high-rate solar arrays for satellite missions.
The company says it is now positioned to secure additional contracts and pursue growth beyond its current programs. The Series C was placed exclusively by Moelis & Company.
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