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#News(IoTStack) [ via IoTGroup ]
Californian 3D printed rocket manufacturer Relativity Space has announced the successful raising of $140 million in funding.
The money will be used to help finance preparation and development of the company’s Terran 1 rocket, currently scheduled for a test launch by the end of 2020.
“Relativity was founded with the long term vision of 3D printing the first rocket made on Mars and expanding the possibilities for human experience in our lifetime,” commented Relativity Space co-founder and CEO Tim Ellis.
“With the close of our Series C funding, we are now one step closer to that vision by being fully funded to launch Terran 1 to orbit as the world’s first entirely 3D printed rocket.”
Relativity Space first entered the private space exploration market with its ambitious goals of producing a fully 3D printed vehicle in 2015.
The core of Relativity Space’s production is the Stargate 3D printer.
Upgrading the capacity of the Stargate, Relativity now has several “next generation” 3D printers in operation.
With this system, the company seeks to entirely reinvent the rocket manufacturing value chain, which has remained largely unchanged in over 60 years.
According to Noah Knauf, co-founder and General Partner at Bond, who co-led the Series C investment, “We believe the Stargate factory is a template for the future of aerospace manufacturing and provides Relativity’s commercial customers, and eventually humanity, a faster, more reliable, and lower cost way to shuttle important resources from earth to outer space.”
Between 2015 and 2017, Relativity was carried along by $10 million in funding.
By the end of 2019, Relativity is seeking to secure a polar and Sun Synchronous Orbit (SSO) capable launch site for the Terran 1, taking the 3D printed rocket to altitudes of up to between 600 and 800 km.
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