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