Home / Technology / Varda Space Raises $250M for Microgravity Pharma
Varda Space Raises $250M for Microgravity Pharma
30 Sep
Summary
- Varda Space secured $250 million in Series D funding.
- The company aims to produce pharmaceuticals in microgravity.
- Future missions will test drug formulations in human clinical trials.
In-space manufacturing startup Varda Space recently secured $250 million in Series D funding, valuing the company at $1.6 billion. This significant capital infusion, led by Lux Capital and Natural Capital, brings Varda's total raised funds to $598 million since its 2021 inception. The company is dedicated to producing pharmaceuticals in microgravity.
Varda operates a fleet of uncrewed space capsules designed as orbital manufacturing platforms. Since 2023, it has deployed six missions using its W-Series capsule. The company is preparing to launch two capsules simultaneously on a SpaceX Falcon 9 rocket this Thursday, carrying payloads for the Pentagon and commercial clients.
While currently serving a government-heavy customer base, Varda anticipates a shift towards pharmaceutical work by 2032. The company has strategically appointed biotechnology executive Mikael Dolsten to its board and boasts a significant portion of its employees with pharmaceutical backgrounds, underscoring its commitment to this sector.
Competitors like SpaceX's Starfall program and Inversion Space are also active in the nascent point-to-point space transportation market. Varda's success is also seen against the backdrop of the approaching 2030 retirement of the International Space Station, a key platform for space manufacturing research.
