Space Coast, FL – Relativity Space has closed their $650 Million Series E equity funding round. They are the first company to 3D print and build an entire rocket on the world’s largest manufactured 3D printers. The TERRAN R rocket is a medium-lift rocket that will be a competitor in fully reusable rockets.
Investment round led by Fidelity Management & Research Company LLC, with new investors including funds and accounts managed by BlackRock, Centricus, Coatue, and Soroban Capital, in addition to participation from existing investors Baillie Gifford, K5 Global, Tiger Global, Tribe Capital, XN, Brad Buss, Mark Cuban, Jared Leto, and Spencer Rascoff
Relativity Space, TERRAN R
The TERRAN R is a two-stage, 216-foot-tall rocket. It will be 16-feet in diameter, and have a 5-meter payload fairing. The rocket will be entirely reusable and capable of launching 20,000 kg (4,4092.452 lbs.) to low Earth orbit (LEO). The first stage will be equipped with seven Aeon R rocket engines capable of 302,000 lb. thrust each. These rocket engines are also 3D printed. The second stage consists of one Aeon 1 vac engine. Relativity Space is targeting launches in 2024 at LC-16 in Cape Canaveral, Florida.
“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,
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.”- Tim Ellis, CEO and co-founder of Relativity
Earth, Moon, Mars
The mission of Relativity Space is to help build humanity’s multiplanetary future. They will eventually offer customers a space freighter that would be point-to-point, capable of missions between Earth, Moon and Mars.
The company has hit milestones on commercial and technical aspects. This includes it's first signing of an anchor customer for TERRAN R. They have completed over 85% of printing for the Terran 1 orbital launch vehicle. Other contracts include, TriSept, its first launch contract with the U.S. Department of Defense, and a Venture Class Launch Services Demonstration 2 (VCLS Demo 2) contract with NASA.
As a leading private space company with significant technical and commercial momentum, the company’s latest funding round helps catalyze production for its fully reusable, entirely 3D-printed rocket, Terran R, and to support long-term development
More exciting times for rocket launches on the Space Coast of Florida is upon us. Congratulations to Relativity Space on hitting their mark for production.
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