Varda raises $90 million to fuel space manufacturing efforts

FILE PHOTO: Delian Asparouhov, co-founder of Varda Space Industries, speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 15, 2021. REUTERS/Brendan McDermid/File Photo

(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 eponymous investment fund Khosla Ventures, among others.