Vast, a California startup developing private space stations called Haven, has raised $500 million in funding to advance its plans for low Earth orbit outposts.

The financing includes $300 million in Series A equity and $200 million in debt, led by Balerion Space Ventures with participation from several global investors.

Vast plans to launch its single-module Haven-1 pathfinder station next year, followed by Haven-2 in 2028, with additional modules added through 2032 to maintain continuous human presence in orbit after the ISS retires in 2030.

The company has already tested key Haven-1 technologies with its uncrewed Haven-Demo spacecraft, launched in November 2025, Space.com has reported.

Vast joins other private space station efforts, including Axiom Space, Blue Origin’s Orbital Reef, and NanoRacks’ Starlab, all aiming to expand commercial and research operations in orbit.