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Relativity raises $650m and presents Terran R

Terran 1 and Terran R (on the right). Image: Relativity Space

Paris, 9 June 2021. – The 3D rocket printer Relativity Space raised another $650 million to fund its new fully reusable, entirely 3D-printed Terran R rocket.

Relativity Space closed a $650 million Series E equity funding round led by Fidelity with participation from investors including Baillie Gifford, funds and accounts managed by BlackRock, Centricus, Coatue, K5 Global, Soroban Capital, Tiger Global, Tribe Capital, XN, Brad Buss, Mark Cuban, Jared Leto, and Spencer Rascoff, among others, the company said.

Terran R is a two-stage, 216-foot-tall rocket with a 16-foot diameter, and a 5-meter payload fairing, Relativity said. It will be entirely reusable and capable of launching 20,000kg to low Earth orbit, starting in 2024 at the company’s launch site in Cape Canaveral.

Created in Relativity’s Factory of the Future, by the same printers and the same team as Relativity’s smaller Terran 1, Terran R has “unique aeronautical features, complex structures”, and the ability to launch 20X more payload than Terran 1, Relativity said.

The startup has now raised $1.34 billion in capital since its founding in 2015, CNBC reported, with its valuation climbing to $4.2 billion from $2.3 billion in November. Relativity employs 400 people.

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