Varda Space Industries Raises USD 187 Mn in Series C Funding for In-Space Pharmaceutical Manufacturing
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Varda Space Industries has raised USD 187 million in a Series C funding round led by Natural Capital and Shrug Capital, with participation from Founders Fund, Peter Thiel, Khosla Ventures, Caffeinated Capital, Lux Capital, and Also Capital.
This brings the total capital raised by the company to USD 329 million. The funds will be used to expand Varda's pharmaceutical manufacturing capabilities in microgravity and increase the cadence of orbital missions.
"With this capital, Varda will continue to increase our flight cadence and build out the pharmaceutical lab that will deliver the world's first microgravity-enabled drug formulation," said Varda CEO Will Bruey.
Varda was founded in 2020 by Will Bruey and Delian Asparouhov. Since its inception, the company has focused on building orbital laboratories to process materials in microgravity, outside the International Space Station. These labs enable the development of novel drug formulations by leveraging the unique crystallisation properties of materials in space.
Beyond life sciences, Varda also offers hypersonic test environments for government agencies using its W-series reentry vehicles. These capsules return from orbit at speeds reaching Mach 25 and serve as platforms for testing advanced thermal, navigation, communication, and sensor technologies.
The company recently opened a new 10,000 square foot laboratory in El Segundo and an additional office in Huntsville, Alabama. The expanded lab will support research into crystallising complex biologics, including monoclonal antibodies, a market valued at over USD 200 billion.
"Our new lab space is an investment in our belief that in-space pharmaceutical manufacturing will drive the foundation of the orbital economy," said Chief Science Officer Adrian Radocea.
"Through multiple flights, the Varda team has proven a repeatable orbital reentry capability and is now turning that momentum toward a world-class crystallisation lab," added Ravi Tanuku, General Partner at Natural Capital.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
As Trump Signs the Genius Act Into Law, Should You Buy Circle Stock?
Recently listed Circle Financial (CRCL) is slowly gaining a reputation of being the Nvidia (NVDA) of the crypto industry. The hype around the USDC stablecoin issuer is real. Since its listing, the share price has rallied by more than 500%, thanks in no small part to the GENIUS Act. The GENIUS Act or 'Guardrails for Emerging and Novel Instruments Utilizing Stablecoins' Act is a U.S. is a federal law passed in July 2025 to regulate stablecoins like USDC and USDT, which is issued by Tether. Under this act, only federally approved and well-capitalized institutions (like banks or regulated fintechs) can issue stablecoins and the issuers must hold one-for-one dollar-equivalent reserves, mostly in cash or short-term Treasurys. More News from Barchart NVDA Broken Wing Butterfly Trade Targets A Profit Zone Between 150 and 160 Is Opendoor Stock a Buy at New 52-Week Highs? Billionaire Peter Thiel is Betting Big on Stablecoins. Should You Buy the "MicroStrategy of Ethereum," Too? Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Acting as a further tailwind and a regulatory stamp of approval for stablecoins, this makes the case for investing in CRCL stock even more compelling. However, the stock's massive uptick has led to valuation concerns. Valuation Concerns Emerging Goldman Sachs has a price target of $83 for the stock, implying a 57% decline from current levels while stating that they 'view CRCL's business and growth attractively, but valuation appears elevated.' Meanwhile, analysts at Oppenheimer, without providing a price target, commented that they had a 'very favorable view' of Circle and its business. However, citing its punchy valuations, advised that 'investors wait for a better entry point.' Interestingly, JPMorgan, which has also been making moves in the stablecoin space, has issued an 'Underweight' rating on the CRCL stock with a price target of $80. Their concerns were also along similar lines. So, what is to be done with Circle now? Let's have a closer look. Circle: Long-Term Wows Face Off with Short-Term Woes In a recent piece, I outlined the bull and bear cases for Circle here. Essentially, Circle functions as a key infrastructure provider in the evolving digital finance ecosystem, rather than as a traditional financial institution. Instead of handling fiat transactions directly, it relies on regulated banking partners to move funds. Thus, Circle's core responsibilities remain focused on issuing digital dollars and settling them securely. This allows Circle to operate with flexibility, while reducing its exposure to banking-specific regulatory burdens. Consequently, the company is positioned as a bridge between the traditional financial system and the blockchain-based future. Meanwhile, in recent developments, Circle has begun to expand beyond just stablecoin issuance. The acquisition of Hashnote earlier this year led to the launch of USYC, a tokenized version of a U.S. Treasury money market fund. This step marks the company's entry into the broader tokenized asset space, an industry with significant long-term potential. However, regulatory shifts are shaping the company's options. The GENIUS Act, though supportive of stablecoin frameworks, imposes strict guidelines on reserve composition, limiting it to cash, demand deposits, or short-term Treasuries. This restricts the types of assets Circle can hold, reducing flexibility around yield generation and risk management. Another factor to consider is Circle's revenue-sharing agreement with Coinbase (COIN). While it has been instrumental in growing USDC's reach, the arrangement introduces recurring costs. Notably, every new distribution partner adds to Circle's payout obligations, which could weigh on future profitability. Finally, valuation remains an area of concern. Circle trades at a forward price-earnings ratio of of 154x and a price-to-sales ratio of 23.8x. This is far above the industry averages of 23.97x and 3.17x, respectively. These elevated multiples suggest that much of the company's long-term growth is already priced in, leaving little room for missteps. Financial Transformation Brings Confidence Circle's financial story over the past couple of years tells a striking tale of change. Back in 2022, it was still in the red, bringing in $772 million in revenue but ending the year with a sizable net loss of $768.8 million. Things have turned around since then. By the close of 2024, revenue had surged to $1.7 billion, and the company now reported a profit of $155.7 million. Cash flow followed a similar path. In 2022, there was negative cash flow from operations of $72.7 million. Two years later, the company was generating cash flow from operations of $344.6 million instead. Meanwhile, Circle's cash reserves have also grown stronger. From around $369 million at the end of 2023, the company's cash position nearly doubled to $751 million by the end of 2024. In a space as unpredictable as crypto, that kind of liquidity offers real flexibility. Analyst Opinions on CRCL Stock Overall, analysts have attributed a rating of 'Moderate Buy' for CRCL stock with a mean target price of $184.67 which has already been surpassed. The high target price of $280 indicates upside potential of about 50% from current levels. Out of 14 analysts covering the stock, six have a 'Strong Buy' rating, one has a 'Mdoerate Buy' rating, four have a 'Hold' rating, and three have a 'Strong Sell' rating. On the date of publication, Pathikrit Bose did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
Auto Revenue Keeps Plunging at Tesla. Should You Buy the TSLA Stock Dip or Run Far Away?
Tesla (TSLA) shares are down nearly 9% on Thursday after the EV manufacturer reported its second straight quarter of revenue decline. The automaker continued to lose share to lower-priced electric vehicles from rivals, resulting in a more-than-expected 16% decline in automotive revenue to $16.7 billion in Q2. More News from Barchart NVDA Broken Wing Butterfly Trade Targets A Profit Zone Between 150 and 160 Is Opendoor Stock a Buy at New 52-Week Highs? Billionaire Peter Thiel is Betting Big on Stablecoins. Should You Buy the "MicroStrategy of Ethereum," Too? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Including today's plunge, Tesla stock is down some 17% versus its high in the final week of May. Tesla Stock Sinks on Downbeat Commentary TSLA shares are slipping this morning mostly because the company's billionaire chief executive, Elon Musk, signaled more turbulence ahead on the earnings call, saying 'we probably could have a few rough quarters.' Additionally, President Donald Trump's administration's recently passed tax-and-spending bill, which essentially suspends federal subsidies for EV buyers, will also hurt Tesla's business moving forward, according to chief financial officer Vaibhav Taneja. In the earnings release, the finance chief also confirmed that Tesla is adjusting its supply chain to address tariff risks, which prevents the automaker from 'guaranteeing delivery orders placed in the later part of August and beyond.' That said, the EV stock is still up more than 40% versus its year-to-date low in early April. Have TSLA Shares Hit the Bottom Yet? Despite disappointing sales and disconcerting commentary, loading up on Tesla shares on the post-earnings dip may not be the worst of ideas, argued George Gianarikas, a senior Canaccord Genuity analyst in his research note today. On Thursday, Gianarikas reiterated his 'Buy' rating on the EV stock and raised his price target to $333, indicating over 10% upside from here, as 'we may have seen the bottom in growth trends with positive acceleration on the way.' According to him, the company's Q3 will benefit from U.S. consumers rushing in to buy an electric vehicle before the tax credits expire in September, and then in Q4 'they have promised new EVs, which should help the comps.' Wall Street Doesn't Agree With Gianarikas on Tesla According to other Wall Street analysts, however, Tesla stock is a 'wait-and-see' story at best. The consensus rating on TSLA shares currently sits at 'Hold' only with the mean target of about $298 still indicating potential downside from here. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
3 hours ago
- Yahoo
Coal Isn't Dead--It's Setting Records Again
Global coal demand is on track to set another record in 2025despite a slowdown from China, its biggest consumer. That's the latest update from the International Energy Agency, which now expects this year's demand to also reach a new high. China's coal usage is projected to fall 0.5% in 2024, but that's more than offset by rising consumption elsewhere. In the U.S., where President Donald Trump has been vocal about backing fossil fuels, coal demand surged 12% in the first half of the year as electricity usage picked up. Europe is seeing similar trends, with weak wind output forcing utilities to fall back on more traditional power sources. India is also contributing to the upside, with coal demand forecasted to rise 1.3% this year. In total, the IEA estimates that global coal use climbed 1.5% in 2023 to a record 8.79 billion metric tonsup from its previous 8.77 billion-ton estimate. The agency noted that electricity demand globally is growing faster than new capacity from renewables like wind and solar, leaving coal to fill the gap. Even as governments push decarbonization goals, the shortfall in clean energy infrastructure is keeping the world's dirtiest fuel in play longer than many expected. The IEA now sees a possible inflection point in 2026but the outlook hinges heavily on China. If demand there stabilizes or picks up again, the forecast could shift. For investors, that opens the door to both risks and opportunities across the energy and utility space. Traditional players like Peabody Energy (BTU) could benefit in the short term, while the broader electrification storyincluding players like Tesla (NASDAQ:TSLA)still depends on how quickly renewable generation can catch up. In the meantime, the market is watching China's next moves. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
