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Varda Space Industries

Varda Space Industries

Varda Space is a space startup focused on manufacturing specialized products in space.

Varda Space Industries is a space startup focused on manufacturing specialized products in space. Varda was started by Delian Asparouhov and Trae Stephens, two principals at Founders Fund in August 2020. Will Bruey was named CEO of the company in December 2020, after serving as spacecraft operator and systems officer at SpaceX and Director of Global Equities Technology at Bank of America/Merrill Lynch.

Varda takes its name from the novels of J.R.R. Tolkien, similar to other Founders Fund companies Palantir and Anduril, and is named for the Elf queen who created constellations in the books.

The startup is focused on researching and manufacturing specialized products in space, including products that are difficult to produce due to material volatility or earth's gravity. High-value and super sensitive materials like semiconductors and pharmaceuticals are examples. Varda is looking to automate the majority of their manufacturing and partner with rocket manufacturers to transport their manufacturing materials and technology, which removes the complication of sending humans to space.

Varda has received nine million USD in funding, led by Founders Fund and Lux Capital. Additional funders include Fifty Years, Also Capital, Raymond Tonsing, Justin Mateen and Naval Ravikrant.

Timeline

July 30, 2021
Varda Space Industries raises a $42,000,000 series A round from Caffeinated Capital, Founders Fund, General Catalyst, Khosla Ventures and Lux Capital.
July 29, 2021
Varda Space Industries raises a $42,000,000 Series A round, led by Khosla Ventures and Caffeinated Capital, with participation from Lux Capital, General Catalyst and Founders Fund.
December 9, 2020
Varda receives $9 in seed round funding from Founders Fund and Lux Capital.
December 2020
Varda Space Industries raises a $9,000,000 seed round from Founders Fund and Lux Capital Management.
August 2020
Varda Space Industries is founded by Delian Asparouhov and Trae Stephens.

Funding rounds

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Aria Alamalhodaei
August 11, 2021
TechCrunch
Orbital manufacturing startup Varda Space Industries is moving fast. Only a few weeks after announcing a $42 million Series A, Varda has signed a deal with launch company Rocket Lab for three Photon spacecraft to support the startup's initial missions. The first spacecraft will be delivered in the first quarter of 2023, with the second [...]
Aria Alamalhodaei
July 29, 2021
TechCrunch
Varda Space Industries has raised a $42 million Series A to bring to manufacturing a key capability that can only be found off-world: microgravity. The eight-month-old startup is looking to establish its first manufacturing facility in space as early as 2023, and by doing so, bring back to Earth advanced products that can only be [...]

References

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