Tuesday, June 8, 2021

Relativity Space Raises $650M More For 3D Printed Rockets

Long Beach-based 3D, printed rocket developer Relativity Space said on Tuesday that it has raised another round of funding--worth $650M--to go towards production of its first rocket. According to the company, the round was led by Fidelity Management and Research. The Series E funding brings the company's total raised to more than $1.9 billion. Relativity is in the process of developing 3D printed rockets, which the company claims will be much easier to build and reuse. The company is led by CEO Time Ellis. Relativity Space has yet to launch a rocket, although the company has a number of launch contracts under its belt. The company's other investors include Tiger Global Management, Baillie Gifford, as well as angels Jared Leto and Mark Cuban.