Varda Announces $90 million Series B Funding to Build Factories in Space
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Venerdì, Aprile 5, 2024
EL SEGUNDO, Calif., April 5, 2024 /PRNewswire/ -- Varda Space Industries, Inc., the world's first in-space manufacturing and hypersonic Earth re-entry logistics company, today announced the completion of a $90 million Series B funding round, led by Caffeinated Capital, with participation from Lux Capital, General Catalyst, Founders Fund, and Khosla Ventures. Varda has raised $145 million to date.
Key Points:
- The capsule's payload included an experiment to reformulate Ritonavir, a well-known antiretroviral drug primarily used to treat HIV.
- Varda is their first pathway to commercialize this work, and we're pleased to see our investors recognize that potential," said Varda President Delian Asparouhov.
- Varda offers a path to revolutionize the pharmaceutical industry, potentially leading to reductions in healthcare costs and better patient outcomes," said Varda CEO Will Bruey.
- Varda aims to eventually launch capsules on a monthly cadence, making space research, development, and orbital manufacturing accessible to a range of terrestrial industries.