SUMMARY
- Varda Space raised $251M in Series D funding.
- Funds will support more flights and pharma partnerships.
- Varda develops space-based manufacturing technology.
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Follow usVarda Space Industries, an El Segundo, CA-based microgravity-enabled life sciences company, has secured $251 million in a Series D funding round led by Lux Capital and Natural Capital, bringing the total amount to $598 million.
The round also saw participation from Founders Fund, Khosla Ventures, Caffeinated Capital, General Catalyst, 8090 Industries, Giant Step, and Also Capital.
The company plans to use the funding to increase its flight cadence, deepen pharmaceutical partnerships, and move closer to delivering the first medicine made in space.
What is Varda Space Industries?
Varda Space Industries develops technology for manufacturing pharmaceutical products in microgravity.
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The company uses the absence of gravity to process materials such as active pharmaceutical ingredients in ways that are difficult or impossible to achieve on Earth. This can enable new drug formulations and potentially support the development of medicines with benefits for patients.
Varda is working to make in-space pharmaceutical processing a reliable part of the drug development process.
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How Much Funding Has Varda Space Industries Raised?
Varda has raised $598 million in total funding following its $251 million Series D round.
The latest round was led by Lux Capital and Natural Capital, with participation from Founders Fund, Khosla Ventures, Caffeinated Capital, General Catalyst, 8090 Industries, Giant Step, and Also Capital.
Who Invested in Varda Space Industries’ Series D Round?
Lux Capital and Natural Capital co-led the $251 million Series D funding round.
Other participating investors included Founders Fund, Khosla Ventures, Caffeinated Capital, General Catalyst, 8090 Industries, Giant Step, and Also Capital.
Why the Funding Matters
Varda will use the new funding to increase its flight cadence and expand its pharmaceutical partnerships.
The company also aims to move closer to delivering the first medicine manufactured in space.
Varda's work builds on decades of research conducted on the International Space Station, which has demonstrated the potential of microgravity for developing pharmaceutical formulations.
Who founded Varda Space Industries?
Varda Space Industries was founded in 2021 by Delian Asparouhov and Will Bruey.
The company is headquartered in El Segundo, California, with office and industrial production space. It also has offices in Washington, D.C., and Huntsville, Alabama.
"In-space manufacturing means building what space needs, in space, and making what Earth can't. Varda is making life-saving drugs impossible to make under gravity. It's the first and only company delivering a real cadence of launches and re-entries, with capsules built to manufacture the impossible and return it home," said Shahin Farshchi, Partner at Lux Capital.
"We started Varda with the conviction that the first product manufactured in space and consumed on Earth would be a pharmaceutical," said Varda co-founder and President Delian Asparouhov. "This round gives us the resources to increase our cadence, deepen our pharmaceutical partnerships, get closer to delivering the first medicine made in space."
Market and Business Growth
Varda is focused on building infrastructure for in-space pharmaceutical processing and other applications involving orbital manufacturing and reentry.
The company is developing launch, microgravity processing, and reentry capabilities to support its pharmaceutical operations.
What Happens Next?
Varda plans to increase the frequency of its flights and deepen partnerships with pharmaceutical companies.
The company will continue developing its in-space pharmaceutical processing capabilities as it works toward delivering the first medicine made in space.
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