Funding round
Varda Space Industries Series B
Varda Space Industries, which works in orbital manufacturing infrastructure development in El Segundo, raised $90M in a Series B round announced on 5 Apr 2024, led by Caffeinated. 5 firms took part. It is Varda Space Industries' third venture round on record; the one before was a Series A in Jul 2021.
$90M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Varda Space Industries did not disclose a valuation in this round. It came 33 months after Varda Space Industries' Series A. It is 17% of the $539M Varda Space Industries has raised in the venture rounds on record. Varda Space Industries raised again 15 months later: a Series C round of $187M in Jul 2025, at $500M post-money.
Varda Space Industries' funding rounds
Varda Space Industries has 5 venture rounds on record. This one is highlighted.
- Seed 8 Dec 2020, led by Founders Fund and Lux Capital $9.0M
- Series A 29 Jul 2021, led by Caffeinated and Khosla Ventures $2.3M
- Series B this round 5 Apr 2024, led by Caffeinated $90M
- Series C 10 Jul 2025, led by Natural Capital and Shrug Capital $187M$500M post-money
- Series D 30 Sep 2026, led by Lux Capital and Natural Capital $251M$1.60B post-money
Investors
Who put money in
Caffeinated led the round with 4 other firms.
Lead investor
- Caffeinated backs 79 venture-backed companies new investor
Also in the round
- Lux Capital backs 194 venture-backed companies new investor
- General Catalyst backs 574 venture-backed companies new investor
- Founders Fund backs 368 venture-backed companies new investor
- Khosla Ventures backs 396 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development and scaling operations.
- Product development
- Scaling operations
Comparable rounds
How it compares
32 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $65M, and this round was 1.4 times the median. The closest in time, other companies' Series B rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Aerospace and Defence | 12 Apr 2024 | $11M | not disclosed | Carbyne Equity Partners |
| Aerospace and Defence | 8 May 2024 | $40M | not disclosed | Chartered Group |
| Aerospace and Defence | 7 Mar 2024 | $18M | not disclosed | Cota Capital |
| Hadrian Aerospace and Defence | 21 Feb 2024 | $117M | not disclosed | not named |
| Aerospace and Defence | 1 Feb 2024 | $107M | not disclosed | not named |
| Apex Aerospace and Defence | 12 Jun 2024 | $95M | not disclosed | XYZ and CRV |
| Aerospace and Defence | 18 Jun 2024 | $25M | not disclosed | Korea Development Bank and HL Mando Corporation |
| Aerospace and Defence | 4 Jun 2024 | $16M | not disclosed | not named |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Varda Space Industries raise in its Series B round?
Varda Space Industries raised $90M in its Series B round, announced in Apr 2024.
Who led Varda Space Industries' Series B round?
Caffeinated led it, with Lux Capital, General Catalyst, Founders Fund and Khosla Ventures.
What was Varda Space Industries' valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Aerospace and Defence?
32 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $65M, and this round was 1.4 times the median.
Did Varda Space Industries raise again after this round?
Yes: a Series C round in Jul 2025 of $187M at $500M post-money.