Total amount raised
$141 Millions
Latest funding date
04/01/2024
Location
Varda has successfully raised funding through multiple rounds, with its latest being a Series B round. The company focuses on microgravity-enabled life sciences, processing materials in orbit and returning them to Earth.
Keep reading to explore the intricacies of Varda's fundraising journey and the investors backing this innovative platform.
What Is Varda?
Varda Space Industries, founded in January 2021, is based in El Segundo, California. The company was established by Daniel Marshall, Delian Asparouhov, and Will Bruey.
Varda focuses on creating products in microgravity and retrieving them for terrestrial use. They aim to manufacture items in space that benefit from low gravity, such as pharmaceuticals and fiber optics.
Currently, Varda employs between 101 and 250 people, working on innovative solutions for both government and biopharma sectors.
How Much Funding Has Varda Raised?
- Seed Round
- Amount Raised: $9M
- Date: December 2020
- Lead Investors: Founders Fund, Lux Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop initial technology for space manufacturing.
- Series A
- Amount Raised: $42M
- Date: July 2021
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up operations and advance the development of space manufacturing capabilities.
- Grant
- Amount Raised: $25K
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support specific research and development projects.
- Series B
- Amount Raised: $90M
- Date: April 2024
- Lead Investors: Caffeinated Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up the production of spacecraft for microgravity manufacturing and expand market reach.
Total Amount Raised: $141.025M
Current Valuation: Not publicly disclosed
Key Investors
- Caffeinated Capital
- Details: Caffeinated Capital is a venture capital firm that invests in early-stage companies. Founded by Raymond Tonsing, the firm is known for its focus on ambitious startups.
- Investment Focus Areas: Technology, innovation, early-stage companies.
- Notable Investments: CIONIC, Cedar.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm founded by Vinod Khosla. The firm provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies.
- Investment Focus Areas: Technology, healthcare, clean energy.
- Notable Investments: Square, DoorDash, Impossible Foods.
- Founders Fund
- Details: Founders Fund is a venture capital firm founded by Peter Thiel. The firm invests in companies building revolutionary technologies.
- Investment Focus Areas: Technology, space, transformative companies.
- Notable Investments: SpaceX, Palantir, Airbnb.
- Lux Capital
- Details: Lux Capital is a venture capital firm that invests in emerging science and technology ventures. The firm is known for its focus on innovative companies.
- Investment Focus Areas: Emerging technologies, science-driven companies.
- Notable Investments: Planet Labs, Zoox.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in transformative companies across various sectors. The firm aims to support companies that have the potential to make a significant impact.
- Investment Focus Areas: Technology, transformative companies, various sectors.
- Notable Investments: Airbnb, Stripe.
What's Next for Varda?
Varda's future is brimming with opportunities, particularly in the realm of microgravity pharmaceutical manufacturing. The company aims to revolutionize the pharmaceutical industry by reducing the cost of life-saving drugs through space-based production. With plans to launch capsules monthly, Varda is poised to make space research and development more accessible to various industries, including biopharma and government sectors.
As Varda scales its operations, future fundraising opportunities seem promising. The successful Series B round and the ambitious plans for frequent launches suggest that additional funding rounds may be on the horizon. However, the company will need to navigate technical and logistical challenges, such as ensuring the reliability and safety of space missions and managing competition from other spacetech companies.
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