3D printing and AI startup Relativity Space secured $500 Million

Relativity Space, a California-based company that can 3D print an entire rocket and can build large metal 3D printers, has now secured $300 million in a Series D funding round.

Relativity Space is founded by Tim Ellis in the year 2015. It combines 3D printing, autonomous robotics, and Artificial Intelligence to build a rocket in less than 60 days.

The company is as of now on its way to launch an entirely 3D printed rocket to orbit. The company has a team size of 230 employees.

Tim Ellis, Relativity’s co-founder, and CEO said, "This past year drove change in every industry, including aerospace. Throughout 2020, Relativity achieved unprecedented growth, attracted top talent, and stepped up to deliver results we could have only imagined when we started the company less than five years ago. We are on track to launch our first Terran 1 rocket to orbit next year with existing capital on our balance sheet. With this new Series D funding, we will now dramatically accelerate the development of our long-term plans and look beyond first launch."

The round was backed by Tiger Global Management. Other participating investors include General Catalyst, Elad Gil, Senator Investment Group, Baillie Gifford, Fidelity Management & Research Company LLC, ICONIQ Capital, and XN.

Some of the existing investors participated in the round include Tribe Capital, Spencer Rascoff, Playground Global, K5 Global, 3L, BOND, Mark Cuban, and Allen & Company LLC.

The company as of now has plans to use the new funds to accelerate its planned initiatives, launch vehicle development, product scaling and 3D printing technologies, notes the announcement.