Varda Space Industries has raised $187 million in Series C funding to further its mission of producing medicines in space, bringing its total capital raised to $329 million. Led by Natural Capital and Shrug Capital, the round includes participation from Founders Fund, Peter Thiel, Khosla Ventures, Lux Capital, and others. Since its first launch in 2023, Varda has completed three successful missions with two more planned this year. Its orbital labs are the first to manufacture materials beyond the International Space Station, unlocking new ways to crystallize active pharmaceutical ingredients in microgravity.
The company is also expanding its infrastructure with a new 10,000-square-foot lab in El Segundo, California, where its pharmaceutical team will develop processes for crystallizing biologics like monoclonal antibodies. “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. The lab supports the growing orbital economy, with a specialized team experienced in structural biology. Board member Ravi Tanuku emphasized the company’s momentum: “Through multiple flights, the Varda team has proven a repeatable orbital-reentry capability, attracted serious DoD demand, and is now turning that momentum toward a world-class crystallization lab that will unlock microgravity manufacturing for life-changing medicines and other high-value materials.”
