Varda Space Industries closed its latest round of funding, bringing the total capital raised to $329 million. The space startup is planning to launch a fifth orbit by the end of the year. Varda’s main mission is to launch and return drugs made in space. Pavlo Gonchar | Lightrocket | Getty Images
Space startup Varda announced on Thursday that it has raised $187 million in Series C funding, led by venture capital firms Natural Capital and Shrug Capital, to continue advancing drug manufacturing in space.
The latest round included participation from Peter Thiel, Lux Capital, Khosla Ventures and Caffeinated Capital. It brought the total capital Varda’s raised to $329 million.
“By expanding, we can support work on more complex molecules and ultimately increase cadence to achieve the turnaround times the pharmaceutical industry expects,” Chief Science Officer Adrian