Categories
GeekWire

Relativity gets a $500M boost for printing out rockets

Relativity Space says it’s brought in another $500 million in investment to speed up its effort to build entire orbital-class rockets using 3D printing.

The startup — which was founded in Seattle less than five years ago and is now headquartered in Long Beach, Calif. — has attracted more than $685 million from investors so far, and is said to have a total valuation in excess of $2 billion.

That rise to unicorn status has sparked comparisons to another California-based space venture, SpaceX, even though Relativity has yet to launch a rocket.

In a news release, Relativity Space CEO Tim Ellis said his company is on track to execute the first launch of its Terran 1 rocket from Florida next year, thanks to existing capital on its 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,” said Ellis, who co-founded Relativity Space after working for Amazon CEO Jeff Bezos’ Blue Origin space venture in Kent, Wash.

By Alan Boyle

Mastermind of Cosmic Log, contributing editor at GeekWire, author of "The Case for Pluto: How a Little Planet Made a Big Difference," president of the Council for the Advancement of Science Writing. Check out "About Alan Boyle" for more fun facts.

Leave a Reply