Vast Secures $500M to Accelerate Haven Space Stations

Vast, the Long Beach-based commercial space station developer, has closed a $500 million funding round to accelerate production of its Haven space stations. The raise consists of $300 million in Series A equity and $200 million in debt, bringing total investment in the company to more than $1 billion.

A Major Bet on Commercial Space Stations

Balerion Space Ventures led the financing round, with participation from IQT, Qatar Investment Authority, Mitsui & Co., MUFG, Nikon Corporation, Stellar Ventures, Space Capital, and Earthrise Ventures. Founder and first investor Jed McCaleb also participated.

As part of the transaction, A.C. Charania - current Balerion advisor and former NASA chief technologist - will join Vast's board of directors.

"Vast was founded with a long-term vision of billions of people living and thriving in space. Achieving a goal of this magnitude requires deliberate stepping stones, and our strategy of building, testing and iterating with real hardware is delivering results."

The funds will be used to expand facilities, grow the team beyond its current 1,000+ employees, and advance development of both Haven-1 and Haven-2.

Haven-1 - The World's First Commercial Space Station

Vast's near-term priority is Haven-1, a single-module space station currently in its integration phase. The station is targeted for launch in early 2027 aboard a SpaceX Falcon 9 rocket, with crewed missions planned to follow shortly after.

Haven-2 and the Race to Replace the ISS

The larger strategic play is Haven-2, a multi-module space station designed to support continuous crew operations by 2030 - the same year the International Space Station is scheduled for retirement. Haven-2 is positioned as a potential successor to the ISS, ensuring uninterrupted American and allied human presence in low Earth orbit.

Vast is competing for NASA's Commercial Low Earth Orbit Destinations (CLD) program, which is actively seeking commercial replacements for the aging ISS. The company faces competition from several well-funded rivals:

• Axiom Space - building modules currently attached to the ISS
• Blue Origin with its Orbital Reef concept
• Sierra Space developing the Dream Chaser and station modules
• Voyager Space partnered with Airbus on the Starlab station

Vast differentiates itself through a hardware-first approach, in-orbit operational experience from its demo mission, and a largely self-funded development model backed by McCaleb's personal fortune from co-founding Stellar and Ripple.

A Pivotal Moment for Low Earth Orbit

CEO Max Haot described the current environment as a critical inflection point for the low Earth orbit economy. With the ISS retirement on the horizon and growing demand for commercial research, manufacturing, and tourism in space, the market for commercial stations could be worth tens of billions of dollars over the coming decade.

The $500 million raise signals strong investor confidence in Vast's ability to execute on an ambitious timeline. As NASA evaluates its CLD options and the ISS countdown continues, the company that can deliver a reliable, cost-effective station first stands to capture a defining role in humanity's next chapter in orbit.