Relativity Space raised over $140 million in funding
Relativity Space raised over $140 million in funding with Bond and Tribe Capital companies becoming leading investors.
Acquired capital will be used to build a plant in Los Angeles to produce missiles with Stargate 3D-printing technology. The patented Relativity Space technology will reduce the time of rocket production to 60 days, the company expects. With its help, Relativity Space plans to produce its first Terran 1 rocket. The maximum payload of Terran 1 will be 1.25 tons (for example Falcon 9 from Space X is 22.8 tons).
The main goal of startup is to build reliable carrier rockets using Stargate, allegedly the world's largest 3D printer. In April 2019, Relativity Space singed a contract Telesat to deliver low-Earth orbit satellites. Relativity Space was founded in 2016. The company managed to raise $185.7 million in four investment rounds. The first launch of Terran 1 is scheduled for February 2021.