After some success in space, Varda raises $187 million to expand ambitions

Varda Space Industries, a pioneer in the emerging field of space manufacturing, has successfully completed three missions in low-Earth orbit this year, marking significant advancements in its operations. The California-based company recently announced it has raised an impressive $187 million in a Series C funding round, bringing its total capital raised since its inception in 2021 to $325 million. Delian Asparouhov, co-founder and president of Varda, highlighted that a substantial portion of this new funding will be allocated to scaling production and enhancing operational capabilities. "We are also investing in next-generation technologies and spacecraft. Increasing the reusability of our vehicles is a key focus," he stated in an interview. Varda has developed a compact, autonomous spacecraft that can transport several kilograms of payload into orbit. This spacecraft is designed to facilitate microgravity experiments, autonomous manufacturing, and hypersonic research. Its inaugural mission, W-1, took place in late 2023, successfully landing in 2024 after demonstrating the ability to grow crystals of the antiretroviral drug ritonavir. This year alone, Varda has conducted three additional missions—W-2, W-3, and W-4—serving various clients, including the US Air Force and NASA. The W-4 mission, launched on June 24 as part of SpaceX's 14th Transporter mission aboard the Falcon 9 rocket, marked a milestone for Varda as it utilized its own spacecraft bus and reentry vehicle for the first time, rather than relying on hardware from Rocket Lab. Asparouhov noted that while the mission is progressing well, the true test for their new hardware will occur later this fall during the reentry phase. With a 30,000-square-foot facility in El Segundo for spacecraft processing and a dedicated lab for pharmaceutical research, Varda is positioned to expand its operations significantly. The company aims to conduct four missions utilizing its own spacecraft next year, with plans to ramp up the frequency of launches thereafter.