Varda Space Industries

Space · Biotech/Pharma Manufacturing · Deep Tech

Funding

Varda Space raises $251M Series D at $1.6B valuation

Zero-gravity crystallization lets the startup build drug formulations that are physically impossible to make on Earth.

• Varda Space Industries closed a $251 million Series D led by Lux Capital and Natural Capital, valuing the company at $1.6 billion.
• Varda builds reusable, uncrewed reentry capsules that act as orbital labs, using microgravity to crystallize pharmaceutical ingredients in ways impossible under Earth's gravity.
• The round brings Varda's total funding to roughly $598 million since it was founded in 2021 by ex-SpaceX engineer Will Bruey and Founders Fund partner Delian Asparouhov.
• Varda has flown six W-Series missions since 2023, with all but the fourth capsule successfully recovered after reentry, and has 28 launches booked through 2027-2029.
• About 70% of Varda's payload customer base next year is government work, including hypersonic re-entry testing for the Pentagon, with commercial pharma expected to grow to a majority by 2032.
• Varda's W-8 and W-9 capsules are set to launch together for the first time on SpaceX's Transporter-18 rideshare, carrying Pentagon hypersonic and heat-shield research payloads.
• The raise underscores investor bets that orbital manufacturing can become a viable, repeatable part of the drug development pipeline rather than a one-off experiment.