Relativity Raises $ 650 Million for Large Reusable Rocket
The latest round of funding, led by Boston-based investment manager Fidelity Management and Research Co., gives Relativity total funding of $ 1.3 billion.
Participation in Series E also came from London-based Centricus Asset Management, Menlo Park-based Tribe Capital Management, Soroban Capital Partners and New York-based Tiger Global Management, as well as Mark Cuban and Jared. Leto.
Relativity Space said in its June 8 announcement that it would use the latest injection of funding to accelerate development of Terran R and released new details on the launcher, which it described as a 216-foot-high two-story and 16 feet in diameter. rocket with a 5-meter payload fairing.
The company said the entire Terran R will be reusable, including its engines, first stage, second stage, and payload fairing. Relativity’s goal is to bring the Terran R to flight in 2024.
It will be 3D printed with the same machines used to create Terran 1, the compact rocket the company designed to deploy small satellites. But Terran R will have the ability to launch payloads 20 times larger than Terran 1.
“There is an organic relationship between 3D printing and reusability, and this gives us an unmatched advantage in designing the best fully reusable rocket possible,” said Tim Ellis, CEO of the company.
The rocket’s seven Aeon R rocket motors, which are high-pressure scale versions of those in Terran 1, will be capable of launching 302,000 pounds each. The rocket will be designed to carry more than 20,000 kilograms into low earth orbit.
The objective of Terran R is to eventually offer a “point-to-point space cargo ship” capable of missions to the Moon and Mars, according to Relativity.
“Over the past year, the market has asked us to accelerate the development of our largest launcher, so we knew it was time to double our existing plans and scale the Terran R program even faster and to develop large-scale production capabilities earlier, ”said Ellis.
Relativity aims to launch its Terran 1 for the first time later this year from Space Station’s Cape Canaveral Launch Complex-16 in Florida.
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