Relativity Space raises $650 million from Fidelity and others to build 3D-printed SpaceX competitor
The raise, which Ellis described as "war chest doubled," was led by Fidelity and comes eight months after Relativity brought in $500 million in a round led by Tiger Global. The $650 million in equity added BlackRock, Centricus, Coatue and Soroban Capital as new Relativity investors, with a host of existing investors – including Fidelity, Tiger, Baillie Gifford, K5 Global, Tribe Capital, XN, Brad Buss, Mark Cuban, Jared Leto and Spencer Rascoff – building on prior stakes.
Relativity has now raised $1.34 billion in capital since its founding in 2015, with its valuation climbing to $4.2 billion from $2.3 billion in November. Its headcount has grown to 400 people, with Ellis saying the company plans to "add several more hundred this year."
"We've signed up to create a lot of value, certainly remaining the second most highly valued space company in the world," Ellis said, as SpaceX commands an industry-leading $74 billion valuation.
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