Sierra Space Closes $550 Million in Series C Round, with a Valuation of $8 Billion

Sierra Space Corporation, an industry-leading defense-tech space company delivering solutions for the nation’s critical missions, announced today a $550 million equity investment led by LuminArx Capital Management ("LuminArx Capital"), a global alternative investment manager, with participation from existing investors. The financing values the company at $8 billion post-money.

With this new capital, Sierra Space will be able to further focus on its national security space efforts through ongoing expansion of production capacity and continued development of differentiated solutions for its customers. The investment better positions Sierra Space to secure additional contracts, leverage existing technologies, and pursue growth opportunities beyond its current satellite and spacecraft mission programs.

“Since 2021, Sierra Space has undergone a strategic transformation, deploying trusted and responsive solutions to more closely align with the needs of its national security customers. 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 Sierra Space Board Chair, Fatih Ozmen. “We appreciate the confidence shown by our new equity investor, LuminArx Capital, whose thoughtful, agile approach to capital solutions, positions the company strongly for the future.”

“We are excited to partner with Sierra Space to accelerate the growth of a standout leader in the defense-tech space market,” said LuminArx Capital Co-founder and Chief Investment Officer, Min Htoo. “Among the many companies we’ve evaluated in the sector, Sierra Space distinguishes itself through its team, technical expertise, and execution history. Fatih and Eren have built their businesses with a rare combination of humility, integrity, and deep sense of responsibility to the country—values that are clearly embedded in Sierra Space. We look forward to growing our partnership with Sierra Space as they scale their mission-critical national security offerings and build their enduring legacy.”

Sierra Space’s investors include General Atlantic, Coatue, Moore Strategic Ventures, and Andalusian Private Capital, among others.

“Sierra Space is at an exciting inflection point,” said Sierra Space’s Chief Executive Officer, Dan Jablonsky. “Investor confidence, customer demand, and operational readiness are aligned, and that alignment is powering the intentional scaling of our business. Our focus is on expanding our proven defense and civil capabilities and delivering mission-critical solutions with the speed, reliability, and consistency our customers know us for.”

Sierra Space has been involved in more than 500 missions and has more than 30 years of space flight heritage. Over the past five years, the company has achieved a number of notable milestones, including:

Cornerstone contract wins that include a $450 million award to build more than four satellites for a National Security customer and an SDA Tranche 2 Tracking Layer contract with a maximum potential value of $740 million to build 18 missile warning, tracking, and fire control satellites.

Contracts awarded with essentially all eight space procurement agencies within the Department of War and Intelligence Community.

Last year, the company completed its new power station facility, where it manufactures high-rate solar arrays for critical satellite missions.

In 2025, the company also completed Critical Design Review (CDR) for two major national security satellite programs of record and completed all manufacturing and assembly milestones for the Dream Chaser® spaceplane, with a demonstration flight planned in late 2026.

Moelis & Company LLC acted as exclusive placement agent to Sierra Space on this Series C transaction.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.