Los Angeles-based Relativity Space recently received $140 million in Series C funding. The infusion of funds will enable the company to continue pursuing its creation of 3D-printed rockets that will compete with SpaceX and Blue Origin. Founded in 2015 by former Blue Origin and SpaceX execs, the startup now has coffers full enough to start formulating plans for a 2021 launch date.
Relativity houses 110 workers at its 280,000 square-foot facility, as well as several large Stargate 3D-printers capable of producing the 95 feet tall, 10-engine Terran 1 rocket. The Terran 1 is designed to deliver small to medium-sized satellites and other payloads as the commercialization of space continues to grow. The rocket will be able to handle up to 2,750 pounds of cargo per launch, which Relativity hopes will generate about $10 million in revenue.
The focal point of the recent funding will be investing in newer, larger AI-powered Stargate printers capable of creating larger structures, such as rocket bodies and fuel tanks. The bigger printing envelopes could also translate to larger cargo holds and a wider array of potential customers.
According to a report by Business Insider, the new printers could cut rocket production time from 12-18 months to less than 10 weeks. The technology also allows for making quick changes and enhancements to rocket designs.
