A biotech company hoping that space can help some people on Earth regain their vision closed a $7M seed round on Wednesday.
LambdaVision said the funding will allow it to continue operations through 2027, including scaling up manufacturing in LEO for artificial retinas. Seven Seven Six and Aurelia Foundry Fund led the round, which also included participation by Seraphim Space.
“This seed round funding will help bring us closer to clinical trials, and continue to pioneer scalable production of our artificial retina, including manufacturing techniques implemented in low-Earth orbit,” LambdaVision CEO Nicole Wagner said.
Meet LambdaVision: The company aims to help people living with diseases in which the retina deteriorates over time. These conditions affect the eyesight of millions of people each year, according to a press release.
LambdaVision plans to produce artificial retinas to help those people—which they say is much easier to do in the microgravity environment of space.
LambdaVision announced the first closing of its seed round in May 2024. A spokeswoman said the $7M announced on Wednesday is all new funding since then.
Work so far: LambdaVision has flown nine missions to the ISS, where it produced a 200-layer protein thin film as a precursor to an artificial retina. Most recently, the company won a NASA Phase 2 In Space Production Applications award in September to continue developing the company’s in-space manufacturing process—in this case, in partnership with microgravity research firm Space Tango.
What’s next: LambdaVision isn’t taking its foot off the gas when it comes to fundraising. A press release said the company is continuing to raise money in anticipation of its Series A.
