3D-Printed Rocket Maker Relativity Secures $500M in Series D Funds; Tim Ellis Quoted

3D-Printed Rocket Maker Relativity Secures $500M in Series D Funds; Tim Ellis Quoted
Relativity Space

Los Angeles-based Relativity Space has raised $500M in a round of Series D financing led by Tiger Global Management and will use the funds to advance the development of its launch vehicle, 3D printing technologies and other programs.

“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,” Tim Ellis, co-founder and CEO of Relativity Space, said in a statement published Monday. 

Relativity used 3D printing to speed up the development of the Terran 1 orbital rocket in less than 60 days. 

New and existing investors participated in the funding round and those include Fidelity Management & Research Co., ICONIQ Capital, Baillie Gifford, General Catalyst, Senator Investment Group, Elad Gil, XN, BOND, Tribe Capital, 3L, Mark Cuban, Playground Global, Spencer Rascoff, K5 Global and Allen & Company. 

Relativity said it achieved several milestones in the past year, including a contract with Iridium Communications to send up to six ground spare satellites to low-Earth orbit as part of the Iridium NEXT constellation and the company’s selection by Lockheed Martin for NASA’s Tipping Point contract to perform a cryogenic fluid management launch mission. 

Allen & Company and Fenwick & West respectively served as Relativity Space’s financial and legal advisers in the financing round.

You may also be interested in...


Nimbix Unveils High-Performance Computing Offerings for Gov’t Customers

Nimbix has announced availability of its high-performance computing services to support cloud platforms compliant with the Federal Risk and Authorization Management Program, International Traffic in Arms Regulations and other government-imposed security standards. The company said Tuesday its JARVICE XE and HyperHub platforms offer HPC for artificial intelligence and simulation uses in defense, aerospace, energy and health care industries.

Tutor Perini

Tutor Perini Subsidiary Awarded $67M for Defense, Homeland Security Infrastructure Projects

A Tutor Perini subsidiary has booked $66.9 million in two awards for construction efforts with the departments of Defense and Homeland Security. Perini Management Services Inc. will renovate U.S. Air Force Academy's Cadet Field House in Colorado and design and build a dormitory at the Glynco campus for DHS.

Intelligent Artifacts

Intelligent Artifacts to Launch R&D on Sensor Fusion Tech for USAF

New York-based artificial intelligence company Intelligent Artifacts has secured a contract of an undisclosed sum through the first phase of the Small Business Innovation Research program to explore and develop a sensor fusion technology for the U.S. Air Force.