Relativity Space Raises $650 Million to Fund Production of New Terran R Rocket
Relativity Space has raised $650 million in Series E equity funding round to help scale production for its Terran R fully reusable, entirely 3D-printed launch vehicle. This brings Relativity’s fundraising total to more than $1.2 billion.
Produced alongside Relativity’s 3D-printed Terran 1 rocket, Terran R will be a two-stage, 216-foot-tall rocket with a 16-foot diameter, a 5-meter payload fairing, and outfitted with seven 3D-printed Aeon R rocket engines each capable of 302,000 pounds of thrust. Terran R will be fully reusable including its engines, first stage, second stage, and payload fairing, and will be capable of launching over 20,000 kg to Low-Earth orbit (LEO) in reusable configuration.
Relativity will begin launching commercial and government customers on Terran R in 2024 from Launch Complex 16 — the company’s site at Cape Canaveral. Relativity’s Terran 1 rocket is set to launch later this year.
“Together with our first rocket Terran 1, our second product, Terran R, will continue to take advantage of Relativity’s disruptive approach to 3D printing – reduced part count, improved speed of innovation, flexibility, and reliability – to bring to market the next generation of launch vehicles,” said Tim Ellis, CEO and co-founder of Relativity.
The Series E funding round was led by Fidelity Management & Research Company LLC with participation from investors including Baillie Gifford, BlackRock, Centricus, Coatue, K5 Global, Soroban Capital, Tiger Global, Tribe Capital, XN, Brad Buss, Mark Cuban, Jared Leto, and Spencer Rascoff’s 75 & Sunny, among others. This round comes less than a year after Relativity’s $500 million Series D round in November 2020.