Relativity Space has confirmed that it has closed a $140 million Series C funding round. The company hopes to be the first to create an autonomous rocket factory capable of producing entirely 3D printed launch vehicles.
In an October 1 press release, Relativity Space confirmed the $140 million Series C funding round had been led by two new investors, Bond and Tribe Capital. In addition to a number of other traditional investors, the round also included funding from 30 Seconds to Mars vocalist turned movie star, Jardo Leto.
With this latest round of funding complete, the Los Angeles-based startup has raised $185 million. According to the company, the amount will be sufficient to complete the development of the Terran 1 launch vehicle and begin commercial operations by 2021.
“With the close of our Series C funding, we are now one step closer to that vision by being fully funded to launch Terran 1 to orbit as the world’s first entirely 3D printed rocket,” said Cofounder and CEO of Relativity Space, Tim Ellis.
The Terran 1 vehicle is a 28-meter two-stage rocket capable of launching a 1,250-kilogram payload to low Earth orbit at a cost of around $10 million. The rocket is expected to be almost, if not entirely created from 3D-printed components. The components are printed using the company’s proprietary Stargate 3D printers. According to Relatively Space, with this technology, it will be able to go from raw materials to a completed Terran 1 launch vehicle within 60 days.
Relatively Space has already secured a deep reserve of launch contracts for the Terran 1 vehicle. The company secured its first contract with Telesat to offer “launch services for Telesat’s low Earth orbit satellite constellation” in April this year. Since then, it has secured contracts with Mu Space, Momentus, and Spaceflight, a rideshare aggregator.