Relativity Space uses machine learning in combination with custom software, hardware and proprietary metal alloys to fabricate over 95% of its rockets’ major components using 3D printing. In doing so, the company has cut part count from 100,000 to 1,000 and greatly reduced labor and timelines. As a result, its customers will save millions of dollars at every launch.
“The future of space requires faster, cheaper, more flexible rocket production and launch that is simply not possible with traditional approaches. By leveraging an all-in approach to 3D printing, we will fully automate the production of rockets. This will change the way the launch industry views lead times, product iteration rates, and costs,” said Tim Ellis, CEO and Co-Founder of Relativity Space. “Our technology development is also on-path toward scaling and sustaining an interplanetary society. We will build toward this amazing future far faster with our new capabilities.”
Today, Relativity Space announced the closing of its $35 million Series B financing, led by Playground Global and with full participation from existing Series A investors Social Capital, Y Combinator Continuity and Mark Cuban. The funding will be used to advance the company’s scalable and automated process for building and launching rockets, from conception to production. The latest round brings Relativity Space’s total venture funding to more than $45 million.
The funding will also allow Relativity Space to continue its growth in the satellite constellation market and expand its partnerships. The company separates itself from its competitors, which have been focusing on small payloads at the expense of margins, by concentrating on larger payloads with unprecedented flexibility, lead time and low cost. Relativity’s approach is a difficult but lucrative one.
Relativity Space is growing fast – since January of this year, the company has quadrupled its infrastructure footprint size, going from 10,000 square feet of manufacturing and office space to more than 40,000.
“Relativity is shaking up an industry that hasn’t experienced this level of innovation in decades. We are excited to be a part of a company that is taking a radical approach and we believe Relativity brings significant value to the aerospace ecosystem,” said Jory Bell, Investment Partner at Playground Global and Relativity Board Member.
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[Images: Relativity Space]