Funding round
Sierra Space Series B
Sierra Space, which works in space systems and subsystems manufacturing in Louisville, raised $290M in a Series B round announced on 26 Sep 2023, led by MUFG Bank, Kanematsu, Tokio Marine & Nichido Fire Insurance and Tokio Marine, at a $5.30B post-money valuation. 11 firms took part, 1 of them already investors. It is Sierra Space's second venture round on record; the one before was a Series A in Nov 2021.
$290M
Amount raised
$5.30B
Post-money valuation
$5.01B pre-money
11
Investors
4 leads
1.2x
Step-up from the Series A
$4.50B in Nov 2021
5.5%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Sierra Space at $5.30B after the new money, 1.2 times the $4.50B of its Series A (Nov 2021). The $290M bought investors about 5.5% of the company. It came 22 months after Sierra Space's Series A. It is 13% of the $2.24B Sierra Space has raised in the venture rounds on record. Sierra Space raised again 30 months later: a Series C round of $550M in Mar 2026, at $8.00B post-money.
Sierra Space's funding rounds
Sierra Space has 3 venture rounds on record. This one is highlighted.
- Series A 19 Nov 2021, led by General Atlantic, Coatue and Moore Strategic Ventures $1.40B$4.50B post-money
- Series B this round 26 Sep 2023, led by MUFG Bank, Kanematsu and Tokio Marine & Nichido Fire Insurance $290M$5.30B post-money
- Series C 5 Mar 2026, led by LuminArx Capital Management $550M$8.00B post-money
Investors
Who put money in
MUFG Bank, Kanematsu, Tokio Marine & Nichido Fire Insurance and Tokio Marine led the round with 7 other firms. MUFG Bank had backed Sierra Space before.
Lead investors
- MUFG Bank existing investor
- Kanematsu new investor
- Tokio Marine & Nichido Fire Insurance new investor
- Tokio Marine
Also in the round
- General Atlantic backs 134 venture-backed companies new investor
- Coatue backs 229 venture-backed companies new investor
- Moore Strategic Ventures new investor
- Sierra Holding Company new investor
- BlackRock Private Equity Partners new investor
- backs 23 venture-backed companies new investor
- Vice Family Trust new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development and scaling operations.
- Product development
- Scaling operations
Comparable rounds
How it compares
27 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $68M, and this round was 4.3 times the median. The closest in time, other companies' Series B rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Helsing Aerospace and Defence | 14 Sep 2023 | $224M | $1.82B | General Catalyst |
| Aerospace and Defence | 11 Sep 2023 | $50M | not disclosed | ETF Partners and Trill Impact |
| Stoke Space Aerospace and Defence | 5 Oct 2023 | $100M | not disclosed | Industrious Ventures |
| Aerospace and Defence | 17 Oct 2023 | $24M | not disclosed | Celesta Capital and Rocketship.vc |
| Aerospace and Defence | 2 Jul 2023 | $58M | not disclosed | Bpifrance and Eurazeo |
| Aerospace and Defence | 6 Jul 2023 | $33M | not disclosed | not named |
| True Anomaly Aerospace and Defence | 12 Dec 2023 | $100M | not disclosed | Riot Ventures |
| Aerospace and Defence | 1 Jun 2023 | $70M | not disclosed | RedBird Capital Partners |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Sierra Space raise in its Series B round?
Sierra Space raised $290M in its Series B round, announced in Sep 2023.
Who led Sierra Space's Series B round?
MUFG Bank, Kanematsu, Tokio Marine & Nichido Fire Insurance and Tokio Marine led it, with General Atlantic, Coatue, Moore Strategic Ventures, Sierra Holding Company and BlackRock Private Equity Partners and 2 more.
What was Sierra Space's valuation at the Series B round?
$5.30B post-money ($5.01B pre-money).
How does it compare with other Series B rounds in Aerospace and Defence?
27 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $68M, and this round was 4.3 times the median.
Did Sierra Space raise again after this round?
Yes: a Series C round in Mar 2026 of $550M at $8.00B post-money.