Varda Space Industries Secures $187 Million for Space-Based Drug Development
Varda Space Industries has announced a successful $187 million funding round, led by Natural Capital and Shrug Capital. The investment aims to advance the company's robotic drug manufacturing technology in space. Key backers include Lux Capital, Peter Thiel, Founders Fund, and Khosla Ventures, raising their total capital to $329 million.
Varda Space Industries has successfully raised $187 million to enhance its space-based drug development technology. The funding was led by Natural Capital and Shrug Capital, with significant contributions from Lux Capital, Peter Thiel, and Founders Fund.
This new influx of capital increases Varda's total funding to $329 million. The company is focused on advancing robotic drug manufacturing capabilities in space, a pioneering effort in biotechnology innovation.
The latest investment round underscores growing investor interest in space-related technologies, particularly in the pharmaceutical sector, where microgravity environments can offer unique advantages for drug development.
(With inputs from agencies.)
Advertisement
Google News