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Sierra Space Corporation has raised $550 million in a Series C funding round led by LuminArx Capital Management, achieving a valuation of $8 billion. This funding will support the expansion of production capacity and development of national security solutions.

Key contracts include a $450 million award for satellite construction and a $740 million Space Development Agency contract for missile tracking satellites. Sierra Space has participated in over 500 missions and has more than 30 years of spaceflight heritage.

It aims to enhance its defense capabilities and has plans for a demonstration flight of its Dream Chaser spaceplane in late 2026. The company has now raised over $2 billion since 2021.