Amid heavy competition, Relativity Space secures $140 million in funding

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's no question that there are many companies racing to develop rockets to deliver small satellites into low-Earth orbit. And there's no doubt that the small satellite market-from governments to commercial constellations-will likely only support a handful of private companies.

This situation has complicated fundraising for companies during the critical juncture when they need additional funding to complete the development of their rockets and get into flying operational missions.

Amid 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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