Sierra Space Closes $550 Million Series C at $8 Billion Valuation

(Louisville, Colorado) Defense, technology and space company Sierra Space Corporation announced today that it has closed a $550 million equity investment led by global alternative asset manager Luminarx Capital Management – with participation from existing investors – at a post-money valuation of $8 billion.

Image of stacked satellites for Sierra Space’s SDA Tranche 2 Program, courtesy of Sierra Space.

Per today’s press release from Sierra Space, the new capital will enable the company to further focus on its national security space efforts via expansion of production capacity and continued development of differentiated solutions for customers.

“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.”

In addition to Luminarx, Sierra Space’s investor group includes General Atlantic, Coatue, Moore Strategic Ventures and Andalusian Private Capital, among others.

On February 26th, Sierra appointed Dan Jablonsky as chief executive officer; Jablonsky, who previously served as the chairman and CEO of Ursa Major Technologies and CEO of Maxar Technologies (which has since rebranded as Vantor and Lanteris) began his tenure on Monday, March 2nd, in tandem with Sierra Space preparing “for its next phase of growth across national security, defense, civil and commercial space markets,” according to the company’s Feb. 26 press release.

The Feb. 26th press release also noted that Sierra Space Founder Fatih Ozmen, who had been serving as interim chief executive officer, would continue as chair of the board.

Ozmen said: “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. 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.”

Sierra Space has won cornerstone contracts including a $450 million award to ⁠build more than four satellites for a national security customer and a Space Development Agency contract with a potential value of up to $740 million, according to Reuters.

Beyond satellites, the company is developing ⁠the Reusable Dream Chaser spaceplane, designed to ferry cargo, and eventually crew, to low Earth orbit (LEO); key manufacturing milestones were completed in 2025, and a demonstration flight is planned for late 2026, per Reuters.