Enlarge / Relativity co-founders Tim Ellis, left, and Jordan Noone pose with a 3D printed second stage of the Terran 1 rocket. (credit: Relativity Space)
There is no question that there are many companies racing to develop rockets to deliver small satellites into low-Earth orbit. And there is no doubt that the small satellite market—from governments through commercial constellations—will likely only support a handful of private companies.
This has complicated fundraising for companies during the critical juncture when they need additional funding to complete development of their rockets and get into flying operational missions.
Amidst this market, however, Relativity Space announced Tuesday that it has closed a $140 million Series C funding round led by Bond and Tribe Capital. With this funding, Relativity chief executive Tim Ellis tells Ars the company is fully funded to complete development of its Terran 1 rocket, and reach orbit.
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