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yesterday

Varda Space Raises $187 Million Series C to Expand Microgravity Drug Manufacturing

The round will fuel higher flight cadence to support development of microgravity drug formulations at a new El Segundo laboratory

Varda Space Industries has expanded to a new lab space in El Segundo, Calif.
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An artist's impression of Varda's space-based factory.

Overview

  • Natural Capital and Shrug Capital led the $187 million Series C round for Varda Space Industries
  • The financing included participation from Lux Capital, Peter Thiel, Founders Fund and Khosla Ventures and brought Varda’s total funding to $329 million
  • Varda will use the funds to accelerate its launch cadence and build a dedicated microgravity pharmaceutical laboratory in El Segundo, California
  • The company has completed three launch-and-return missions for drug crystallization, has a fourth capsule in orbit and expects a fifth before year-end
  • Varda uses Rocket Lab’s Photon platform with bespoke crystallization modules and heatshield-protected capsules for in-orbit manufacturing and reentry recovery