Varda raises $90 mln to fuel space manufacturing efforts
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Published date: 2024/06/19
- Location: 64000, Valle Vista, Kentucky, United States
April 5 (Reuters) - Varda Space Industries, a startup that is developing technology to produce drugs autonomously in space, said on Friday it has raised $90 million in a funding round led by venture capital firm Caffeinated Capital.
The California-based Varda's Series B funding round saw participation from science and technology investor Lux Capital, billionaire Peter Thiel's Founders Fund and Vinod Khosla'S Capsules Fake eponymous investment fund Khosla Ventures, among others.
The latest funding takes Varda's total investment to $145 million since its inception in 2021.
"We plan to use the proceeds to transition from our initial demonstration mission to serving our several publicly traded biopharma and government customers," Delian Asparouhov, co-founder of Varda, told Reuters.
The California-based Varda's Series B funding round saw participation from science and technology investor Lux Capital, billionaire Peter Thiel's Founders Fund and Vinod Khosla'S Capsules Fake eponymous investment fund Khosla Ventures, among others.
The latest funding takes Varda's total investment to $145 million since its inception in 2021.
"We plan to use the proceeds to transition from our initial demonstration mission to serving our several publicly traded biopharma and government customers," Delian Asparouhov, co-founder of Varda, told Reuters.
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