Japan's MUFG Bank, 2 others lead $290m Sierra Space fundraising

Tokio Marine & Nichido Fire and trading house Kanematsu also invest in the company

20230926 Sierra Space

Sierra Nevada workers prepare the company's Dream Chaser engineering test vehicle at NASA's Dryden Flight Research Center in the U.S. state of California in 2013. © Reuters

TOKYO (Reuters) -- MUFG Bank is among three Japanese firms leading a $290 million fundraising round for U.S. spaceship company Sierra Space, spearheading a commercial "spaceport" project in the southwestern region of Oita, the companies said on Tuesday.

Despite recent setbacks for national space missions, Japanese companies aiming to foray into space are increasingly deepening ties with private companies, from American giants such as SpaceX to homegrown startups.

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