Sierra Space Is Raising Cash in Pivot to Defense

Sierra Space reached for the stars but never got off the ground. The privately held company burned through much of the $1.7 billion it raised in large part to build a space plane for NASA called Dream Chaser that has never flown into orbit.

Now Sierra is seeking about $300 million in fresh funding to pivot from primarily building a space shuttle to a more promising opportunity: riding the boom in national defense spending to fund the U.S. Space Force and President Donald Trump’s proposed Golden Dome, a possible defense system that would include satellites to track and intercept missiles.