Varda pockets $251m to back space-based pharma processing mission

Varda Space Industries has raised $251m in a Series D round led by Lux Capital and Natural Capital, with Khosla Ventures and Founders Fund also contributing, bringing its total capital raised to $598m. The funds will increase the frequency and speed of launches and returns between Earth and orbit and deepen pharma partnerships, as Varda aims to market the first drug produced in microgravity, where APIs can crystallise in ways impossible on Earth. The company has completed six successful re-entry missions since its first launch in 2023 and plans more than 12 additional launches and re-entries up to 2028.