Varda Space Industries Raises USD 187 Mn in Series C Funding for In-Space Pharmaceutical Manufacturing
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Varda Space Industries has raised USD 187 million in a Series C funding round led by Natural Capital and Shrug Capital, with participation from Founders Fund, Peter Thiel, Khosla Ventures, Caffeinated Capital, Lux Capital, and Also Capital.
This brings the total capital raised by the company to USD 329 million. The funds will be used to expand Varda's pharmaceutical manufacturing capabilities in microgravity and increase the cadence of orbital missions.
"With this capital, Varda will continue to increase our flight cadence and build out the pharmaceutical lab that will deliver the world's first microgravity-enabled drug formulation," said Varda CEO Will Bruey.
Varda was founded in 2020 by Will Bruey and Delian Asparouhov. Since its inception, the company has focused on building orbital laboratories to process materials in microgravity, outside the International Space Station. These labs enable the development of novel drug formulations by leveraging the unique crystallisation properties of materials in space.
Beyond life sciences, Varda also offers hypersonic test environments for government agencies using its W-series reentry vehicles. These capsules return from orbit at speeds reaching Mach 25 and serve as platforms for testing advanced thermal, navigation, communication, and sensor technologies.
The company recently opened a new 10,000 square foot laboratory in El Segundo and an additional office in Huntsville, Alabama. The expanded lab will support research into crystallising complex biologics, including monoclonal antibodies, a market valued at over USD 200 billion.
"Our new lab space is an investment in our belief that in-space pharmaceutical manufacturing will drive the foundation of the orbital economy," said Chief Science Officer Adrian Radocea.
"Through multiple flights, the Varda team has proven a repeatable orbital reentry capability and is now turning that momentum toward a world-class crystallisation lab," added Ravi Tanuku, General Partner at Natural Capital.
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