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Relativity Space raised $ 140 million to build a 3D rocket printing factory

Relativity Space raised $ 140 million to build a 3D rocket printing factory
The company hopes to decrease the production of parts for rockets using 3D printers.
https://preview.redd.it/dw5da30rbbq31.png?width=960&format=png&auto=webp&s=7ec9c27574ef9e56504cb6e28bb1502c63f47618
Relativity Space raised to $ 140 million in Round C funding. Venture capital firms Bond and Tribe Capital are leading investors, TechCrunch reports.
The funds raised will go to the construction of a Stargate 3D printing rocket plant in Los Angeles. The patented Relativity Space technology would reduce missile production time to 60 days, the company said.
Relativity Space plans to manufacture its first Terran 1 rocket using the new technology. The maximum payload of Terran 1 will be 1.25 tons. For comparison, the maximum payload of the Falcon 9 from Space X is 22.8 tons.
The main goal of the company is to launch satellites, in particular - the satellites of telecommunication companies into orbit. In April 2019, Relativity Space announced a contract for the delivery of Telesat satellites to low Earth orbit.
Relativity Space was founded in 2016. During its operation, the company publicly announced the conclusion of contracts with four firms. Relativity Space raised $185.7 million in four investment rounds. The first launch of Terran 1 is scheduled for February 2021.
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