Relativity raises $140 million in third funding round
Capitalism in space: The new smallsat rocket company Relativity announced yesterday that it has raised $140 million in its third funding round, providing it enough funding to complete and launch its Terran 1 rocket.
The new round brings the total raised by the Los Angeles-based company to $185 million. The new funding, Relativity executives said, will be sufficient to complete development of its Terran 1 rocket and begin commercial operations in 2021. It will support expansion of its headquarters and establishment of a factory for rocket production at the Stennis Space Center in Mississippi, where it currently tests its engines.
“That round will carry us past first flight of Terran 1,” said Jordan Noone, co-founder and chief technology officer of Relativity, in an interview. “This round is all the capital required to get to first flight, build out more of the Mississippi test site, Launch Complex 16 in Florida and expand our L.A. headquarters and manufacturing.”
That first launch, once scheduled for late 2020, is now planned for February 2021. “That original prediction for when first flight would be was made about four years ago, so moving it two months to the right here is not bad,” he said. Part of the reason for the slip is a decision to develop a larger payload fairing with twice the volume of the original one, based on feedback from prospective customers.
This all sounds very encouraging. The test will be their engineering concept to manufacture their rocket entirely by 3D printing, something no one has ever done before. If they experience any problems with this those launch dates will immediately be threatened.
The support of my readers through the years has given me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Four years ago, just before the 2020 election I wrote that Joe Biden's mental health was suspect. Only in this year has the propaganda mainstream media decided to recognize that basic fact.
Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Even today NASA and Congress refuse to recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
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Capitalism in space: The new smallsat rocket company Relativity announced yesterday that it has raised $140 million in its third funding round, providing it enough funding to complete and launch its Terran 1 rocket.
The new round brings the total raised by the Los Angeles-based company to $185 million. The new funding, Relativity executives said, will be sufficient to complete development of its Terran 1 rocket and begin commercial operations in 2021. It will support expansion of its headquarters and establishment of a factory for rocket production at the Stennis Space Center in Mississippi, where it currently tests its engines.
“That round will carry us past first flight of Terran 1,” said Jordan Noone, co-founder and chief technology officer of Relativity, in an interview. “This round is all the capital required to get to first flight, build out more of the Mississippi test site, Launch Complex 16 in Florida and expand our L.A. headquarters and manufacturing.”
That first launch, once scheduled for late 2020, is now planned for February 2021. “That original prediction for when first flight would be was made about four years ago, so moving it two months to the right here is not bad,” he said. Part of the reason for the slip is a decision to develop a larger payload fairing with twice the volume of the original one, based on feedback from prospective customers.
This all sounds very encouraging. The test will be their engineering concept to manufacture their rocket entirely by 3D printing, something no one has ever done before. If they experience any problems with this those launch dates will immediately be threatened.
The support of my readers through the years has given me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Four years ago, just before the 2020 election I wrote that Joe Biden's mental health was suspect. Only in this year has the propaganda mainstream media decided to recognize that basic fact.
Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Even today NASA and Congress refuse to recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
Please consider supporting my work here at Behind the Black.
You can support me either by giving a one-time contribution or a regular subscription. There are five ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation:
5. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above. And if you buy the books through the ebookit links, I get a larger cut and I get it sooner.
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