Tuesday, November 17, 2020

Relativity Space Raising $500M, Says Report

Los Angeles-based printed rocket technology developer Relativity Space is in the midst of raising $500M, in a funding round which values the company at $2.3 billion, according to a report today from CNBC. The report--citing "people familiar with the financing"--says that so far, investors such as Tiger Global, Social Capital, Playground Global, Y Combinator, Bond Capital, Tribe Capital, Jared Leto and Mark Cuban are expected to participate in the funding. Relativity Space is developing technology for 3D printing rockets, which the company says dramatically reduces the amount of tooling and qualification needed for putting together a rocket. The new round is reportedly being led by Tiger Global Management.