Elon Musk REVEALED SpaceX MINDBLOWING $3.2B Space Factory!

Elon Musk REVEALED SpaceX MINDBLOWING $3.2B Space Factory!
SpaceX opened its doors for the collaboration with another big companies. The company is looking to expand its business with high opportunities. Inshort this is a ride share, but instead this big flight is to space!

With this big news, SpaceX found a new beneficiary “Varda” to send its facility to space!

Varda is a space manufacturing startup that focuses on creating products in space for terrestrial applications. They aim to manufacture things in space that benefit from low gravity. The company intends to create an infrastructure that harvests source materials for new products in-space via asteroid mining.

The company was founded in 2020 by Delian Asparouhov and Trae Stephens.

From a young age, Will Bruey, the co-founder and chief executive of Varda Space Industries, was fascinated with space and running his own business.

So when the former SpaceX engineer was tapped by Delian Asparouhov and Trae Stephens of Founders Fund to work on Varda, he didn’t think twice.

In 2023, Varda Space Industries will send its first spacecraft into orbit aboard a SpaceX Falcon 9 rocket.

Rocket Lab, SpaceX’s rival launch company will make the spacecraft that will take the startups to orbit. Rocket Lab will also produce two more space vehicles for Varda. Two modules made by Varda will be fitted to the three vehicles: a microgravity module and a capsule for reentry.

Each spacecraft should spend around three months in orbit. The reentry module will bring back approximately 40-60 kilograms worth of manufactured material.

Vardas’ goal is to unlock microgravity’s benefits, which can only be found in space for the manufacturing of novel materials like bio-printed organs and specialized semiconductors. Startups believe that there is a large market for these materials.

The Torrance, California-based startup has moved fast since it was founded by Will Bruey, a SpaceX veteran, and Delian Asparouhov (Founders Fund principal), a little over a year ago. Varda announced a $42million Series A in July and plans to follow an aggressive launch schedule with two launches in 2023, and one in 2024.

Spacecraft will be one among many on the Falcon 9 rideshare mission. This new program, which allows customers to carpool to orbit, spreads the cost to go to space. SpaceX claims to reduce launch costs to as low $1 million per customer who wants to send 200 kg of payloads to sun-synchronous orbit.

Varda Space Industries, a start-up founded less than a year ago by a pair with experience at Elon Musk’s SpaceX and Peter Thiel’s Founders Fund, has now raised more than $50 million as it works toward its first mission in the first quarter of 2023.

“The Varda mission is to build the first space factory – essentially the first industrial park on orbit,” CEO Will Bruey, who spent much of the past decade working on SpaceX’s Cargo Dragon spacecraft, told CNBC.

Varda raised $42 million in a round led by Khosla Ventures and Caffeinated Capital, and joined by investors including Lux Capital, General Catalyst, and Founders Fund. With $11 million raised in a prior seed round, the company has brought in $53 million since its founding eight months ago.