Funding round
Varda Space Industries Series D
Varda Space Industries, which works in orbital manufacturing infrastructure development in El Segundo, raised $251M in a Series D round announced on 30 Sep 2026, led by Lux Capital and Natural Capital, at a $1.60B post-money valuation. 9 firms took part. It is Varda Space Industries' fifth venture round on record; the one before was a Series C in Jul 2025.
$251M
Amount raised
$1.60B
Post-money valuation
$1.35B pre-money
9
Investors
2 leads
3.2x
Step-up from the Series C
$500M in Jul 2025
16%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Varda Space Industries at $1.60B after the new money, 3.2 times the $500M of its Series C (Jul 2025). The $251M bought investors about 16% of the company. It came 14 months after Varda Space Industries' Series C. It is 47% of the $539M Varda Space Industries has raised in the venture rounds on record. No later venture round is on record for Varda Space Industries.
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 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 this round 30 Sep 2026, led by Lux Capital and Natural Capital $251M$1.60B post-money
Investors
Who put money in
Lux Capital and Natural Capital led the round with 7 other firms.
Lead investors
- Lux Capital backs 194 venture-backed companies new investor
- backs 5 venture-backed companies new investor
Also in the round
- Founders Fund backs 368 venture-backed companies new investor
- Khosla Ventures backs 396 venture-backed companies new investor
- Caffeinated backs 79 venture-backed companies new investor
- General Catalyst backs 574 venture-backed companies new investor
- backs 19 venture-backed companies new investor
- backs 9 venture-backed companies new investor
- backs 13 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
13 Series D rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $500M, and this round was 50% of the median. The closest in time, other companies' Series D rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Hadrian Aerospace and Defence | 6 Aug 2026 | $1.37B | $7.87B | WCM Investment Management and Washington Harbour |
| Aerospace and Defence | 22 Oct 2026 | $250M | $2.45B | not named |
| Quantum Systems Aerospace and Defence | 2 Jul 2026 | $1.20B | $8.00B | Blackstone and Noteus |
| K2 Space Aerospace and Defence | 30 Jul 2026 | $500M | $6.80B | Kleiner Perkins and ICONIQ |
| Impulse Space Aerospace and Defence | 2 Jun 2026 | $500M | $4.26B | 137 Ventures and Banner VC |
| Isar Aerospace Aerospace and Defence | 9 Jun 2026 | $310M | $2.30B | not named |
| Aerospace and Defence | 19 Jun 2026 | $195M | not disclosed | not named |
| True Anomaly Aerospace and Defence | 28 Apr 2026 | $650M | $2.20B | Eclipse and Riot Ventures |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Varda Space Industries raise in its Series D round?
Varda Space Industries raised $251M in its Series D round, announced in Sep 2026.
Who led Varda Space Industries' Series D round?
Lux Capital and Natural Capital led it, with Founders Fund, Khosla Ventures, Caffeinated, General Catalyst and 8090 Industries and 2 more.
What was Varda Space Industries' valuation at the Series D round?
$1.60B post-money ($1.35B pre-money).
How does it compare with other Series D rounds in Aerospace and Defence?
13 Series D rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $500M, and this round was 50% of the median.