Venture Capital: Relativity Space Raises $650M Series E For Its ‘Terran R’ 3D-Printed Rocket

June 8, 2021 | News, Venture Capital
https://dailyalts.com/wp-content/uploads/2021/06/Terran-R.jpg

The round reportedly valued the space startup at $4.2 billion.

Relativity Space, which builds large-scale 3D printers and 3D-printed a complete rocket, announced today its Series E equity funding of $650 million led by Fidelity Management & Research Company LLC. Other investors included Baillie Gifford, funds and accounts managed by BlackRock, Centricus, Coatue, K5 Global, Soroban Capital, Tiger Global, Tribe Capital, XN, Brad Buss, Mark Cuban, Jared Leto, and Spencer Rascoff. (Relativity)

Terran R

Relativity Space will use the funding to scale up its Terran R rocket (pictured above) program and build out its infrastructure.

The Terran R 3D printed rocket will take flight in 2024. A two-stage, 216-foot-tall rocket with a 16-foot diameter, and a 5-meter payload fairing, Terran R will be entirely reusable and capable of launching 20,000kg to low Earth orbit.

It will be powered by seven 3D-printed Aeon R rocket engines capable of 302,000 lb. thrust each, and one Aeon 1 vac engine housed in its upper stage.

Meanwhile, Relativity Space is planning to launch its Terran 1 orbital rocket by the end of this year. It has completed printing of over 85% of the rocket, including its first and second stage.

“With continued high demand for Terran 1, Relativity has secured nine launch contracts from both private and government customers, and with satellite constellations representing the largest part of the growing market, Terran R helps the company serve its growing pipeline of commercial interest,” the company revealed in a statement.

Relativity’s launch contracts for Terran 1 include the U.S. Defense Department, NASA, and Iridium Communications Inc.

The rocket can launch up to 2,755 pounds (1,250 kg) into orbit for $12 million, according to Reuters.

Vision: Humanity’s industrial base on Mars

“From our founding days in Y Combinator just five years ago, we planned on 3D printing Terran 1 and then Terran R – a 20X larger fully reusable rocket – on our Factory of the Future platform,” said Tim Ellis, CEO and co-founder of Relativity. “Today we are one step closer to this goal. Together with our first rocket Terran 1, our second product, Terran R, will continue to take advantage of Relativity’s disruptive approach to 3D printing – reduced part count, improved speed of innovation, flexibility, and reliability – to bring to market the next generation of launch vehicles.”

“Relativity was founded with the mission to 3D print entire rockets and build humanity’s industrial base on Mars. We were inspired to make this vision a reality, and believe there needs to be dozens to hundreds of companies working to build humanity’s multiplanetary future on Mars. Scalable, autonomous 3D printing is inevitably required to thrive on Mars, and Terran R is the second product step in a long-term journey Relativity is planning ahead.”

Related Story:   Relativity Space, Whose Rockets Are 3-D Printed, Is Raising $500M

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/06/bitcoin-3997860_640.jpg
Alternative Investments/Digital: State Street Digital, A New Division At State Street, To Focus On Crypto

State Street (NYSE: STT), which has $40.3 trillion in assets under custody or administration, said Thursday it is establishing a new digital finance division called State Street Digital. The new…

https://dailyalts.com/wp-content/uploads/2021/06/origin.jpg
Venture Capital: UAL Floats United Airlines Ventures For Innovation In Travel And Sustainability

United Airlines (NASDAQ: UAL) announced its new corporate venture fund, United Airlines Ventures, on Thursday. The fund’s brief is to invest in emerging companies that could reinvent travel and aviation…

https://dailyalts.com/wp-content/uploads/2021/06/el-salvador-2379443_640.jpg
Digital Assets: IMF Has Reservations On El Salvador’s Bitcoin Move
June 11, 2021     Digital Assets, News

The IMF warned Thursday that El Salvador’s move to adopt bitcoin as a legal currency in parallel with the US dollar could have various economic and legal repercussions. El Salvador’s…

https://dailyalts.com/wp-content/uploads/2021/06/Clip_Total_Contactless-scaled.jpg
FinTech: Mexican Payments Platform Clip Raises $250M, Turns Unicorn
June 11, 2021     FinTech, News, Venture Capital

Clip, a Mexican digital payments and commerce platform founded in 2012, announced June 10, its raise of $250 million in a round led by the SoftBank Latin America Fund and…