Varda Space Industries Raises $90M in Series B Funding
Varda Space Industries, a pioneering entity in the realm of in-space manufacturing, has a $90 million Series B funding round.
Varda Space Industries, founded in January 2021 by Will Bruey and Delian Asparouhov, specializes in designing and building infrastructure for low Earth orbit accessibility. This includes in-orbit production equipment and reliable re-entry capsules. With a mission to revolutionize space commerce, Varda aims to make microgravity environments viable for various industries, particularly pharmaceuticals.
The $90 million Series B round represents a crucial turning point for Varda, propelling the company from its initial demonstration mission to a phase of regular missions carrying customer payloads. Founder Delian Asparouhov expressed optimism about scaling operations and leveraging partnerships, highlighting the potential for growth in the burgeoning space industry.
Varda’s recent achievements include the successful crystallization of drugs in microgravity, such as the reformulation of the HIV medicine ritonavir. These breakthroughs open new possibilities for pharmaceutical research, tapping into the unique conditions offered by space. Additionally, the company’s hypergravity crystallization platform presents novel approaches to drug formulation and development.
Future Endeavors
With plans to increase mission cadence and optimize spacecraft reusability, Varda aims to drive down mission costs significantly. The company envisions a future where in-space manufacturing becomes a routine aspect of pharmaceutical production, offering economic value and scientific insights. Moreover, ongoing partnerships with biotech companies and launch providers position Varda for further growth and innovation.
As the company continues to unlock the potential of microgravity environments, the possibilities for advancements in pharmaceuticals are limitless.
