It looks like SpaceX has another competitor in the satellite launch business. Relativity Space has announced plans to build a fully reusable two-stage launcher that will compete directly against SpaceX's Falcon 9 booster. Like New Zealand's smaller RocketLabs launcher, the Relativity Space vehicle will be 3D printed.
The company, based in Long Beach, California, revealed plans for the new rocket at the same time it announced the closure of a $650 million Series E funding round led by Fidelity. Other investors in the funding round included venture capital and equity firms, billionaire Mark Cuban, and actor Jared Leto.
The new funding round comes after Relativity announced a $500 million fundraising last November. The money will allow the company to move forward with development of the Terran R, Relativity said in a statement.
Resembling a smaller version of SpaceX’s giant Starship rocket, the Terran R will stand 216 feet (66 meters) tall and measure 16 feet (5 meters) in diameter. It should be ready for launch in 2024, Relativity said.
The next-generation Terran R rocket will eventually offer commercial and government customers a “point-to-point space freighter capable of missions between the Earth, moon and Mars,” Relativity said.
The Terran R follows the development of Relativity’s Terran 1 rocket, an expendable launcher sized to place small satellites into orbit. Relativity says the Terran 1 rocket is scheduled for launch at the end of this year from Launch Complex 16 at Cape Canaveral Space Force Station.
The Terran 1 will be capable of launching a payload of approximately 2,750 pounds (1,250 kilograms) into a low-altitude orbit.
I am surprised that they were able to get that much funding, considering that they have yet to launch a rocket. I hope that they are successful.. Competition will keep SpaceX from getting too smug.
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