Moore Strategic Ventures, BlackRock Investor Relations

Sierra Space, a subsidiary of Sierra Nevada Corp., has received a $ 1.4 billion investment from General Atlantic and Coatue Management.

Sierra Space CEO Tom Weiss stated that the funds raised would be used to further ideas for economical space transit, as well as in-orbit living and manufacturing.

Many businesses seek to invest in space

Weiss stated, “We see a number of corporations here on Earth now attempting to invest tremendous sums of money and grow operations into space.”

Sierra Space aims to make over $400 million in revenue in 2021, due in part to a NASA contract, and is on track to launch the Dream Chaser resupply plane to the International Space Station by the end of 2022.

“Space is a high-capital enterprise, and we see something unique here. Bill Ford, chairman and chief executive officer of General Atlantic, said, “We are really enthused about the chance to commercialize low Earth orbit.”

Launch costs have been reduced thanks to Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX. According to Morgan Stanley, the space industry, which is currently valued at over $ 350 billion, is expected to expand to over $1 trillion by 2040, and according to General Atlantic study, the number of commercial launches is on the rise.