Relativity Space is a rapidly growing aerospace company that is changing the way rockets are built and launched. The company was founded in 2015 by Tim Ellis and Jordan Noone, two engineers with extensive experience in the aerospace industry.
The idea behind Relativity Space is simple: to use 3D printing technology to build rockets faster, cheaper, and with more flexibility than traditional manufacturing methods. Instead of using complex, custom-built machinery to manufacture rocket components, Relativity Space uses large-scale 3D printers to produce parts with a high degree of accuracy and precision.
The company’s first major milestone was achieved in 2016, when they successfully tested their first rocket engine. The engine, called Aeon 1, was entirely 3D printed, making it the first of its kind.
In 2018, the company secured a $35 million funding round led by Playground Global and was valued at $140 million.
In 2019, the company announced that it had signed a contract with the U.S. Air Force to launch a small satellite on the Terran 1.
In 2020, the company raised $500 million in funding, bringing its valuation to $2.3 billion. And in 2022, the company raised an additional $650 million in funding, bringing its valuation to $4.2 billion.
As of 2022, the company had over $1.2 billion in launch contracts.
Relativity Space is currently focused on building its Terran 1 rocket, which is set to make its first launch in 2023. The Terran 1 is an expendable launch vehicle that is entirely 3D-printed. The launch vehicle can carry 1,250 kg to LEO for $12 million. The company has also announced plans to develop a larger fully reusable rocket, called the Terran R, which will be capable of delivering payloads up to 20,000 kg to LEO. The Terran R is forecast to launch from Cape Canaveral in 2024.
The future of Relativity Space looks bright. The company is continuing to develop its 3D printing technology, and has plans to produce even larger rocket components in the future. With a growing list of customers and partnerships, the company is well-positioned to continue to grow and make an impact in the aerospace industry.