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Manufacturing Technology Insights | Friday, November 27, 2020
Relativity Space has announced it closed a $500 million Series D equity funding round, and the fund will allow increasing the speed of its planned initiative.
FREMONT, CA: Relativity Space is the first organization to 3D print an entire rocket and designs the world's largest metal 3D printers. In recent times, the company has announced it closed a $500 million Series D equity funding. Tiger Global Management directed the round with participation from new investors like Fidelity Management & Research Company LLC, Baillie Gifford, ICONIQ Capital, General Catalyst, XN, Senator Investment Group, and Elad Gil. The existing investors who participated in the round consist of BOND, Tribe Capital, K5 Global, 3L, Playground Global, Mark Cuban, Spencer Rascoff, and Allen & Company LLC. The Series D equity funding confirms the Relativity's sector-leading momentum across commercial execution, technical milestones, and talent growth. The budget will allow Relativity to accelerate its planned initiatives, including its factory of the future, launch vehicle development, and 3D printing technologies as it develops toward humanity's multi-planetary future.
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"This past year drove change in every industry, including aerospace. Throughout 2020, Relativity achieved unprecedented growth, attracted top talent, and stepped up to deliver results we could have only imagined when we started the company less than five years ago," shared Tim Ellis, Relativity's co-founder, and CEO. "We are on track to launch our first Terran 1 rocket to orbit next year with existing capital on our balance sheet. With this new Series D funding, we will now dramatically accelerate the development of our long-term plans and look beyond first launch."
By disrupting 60 years of aerospace, Relativity's drastically simplified supply chain allows the organization to develop its orbital rocket, Terran 1, with 100x fewer parts in less than 60 days. By combining 3D printing, artificial intelligence, proprietary software, and autonomous robotics, Relativity's team produces an entirely new value chain for aerospace, starting with an orbital launch.
The company is also on its way to launch the world's first entirely 3D printed rocket to orbit, which is only the initial phase in a long-term vision to upgrade humanity's industrial base on Earth and developed one on Mars.
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