After flying three missions into low-Earth orbit this year, Varda Space Industries appears to be making credible progress toward developing the nascent manufacturing-in-space industry.
Investors seem to think the same, as the California-based company announced an impressive $187 million Series C round of funding on Thursday. This brings the company's total amount of money raised since its founding in 2021 to $325 million.
"A decent chunk of the capital is going to go toward scaling up our production and operations," said the company's cofounder and president, Delian Asparouhov, in an interview. "And another chunk of that we're going to invest in our next-generation capabilities and spacecraft. With a vehicle like ours, there is a benefit to increasing the percentage of the total vehicle that is reusable."
