As per the trusted sources of information, Relativity Space announced on 8th June 2021 that it had raised new funding of USD 650 million to help develop the fully reusable launch vehicle, which is far larger than its original Terran 1 rocket.
As per the claims of Relativity, Fidelity led its Series E funding round, which has several investors such as Centricus, Soroban Capital, BlackRock, and Coatue working for it.
This funding will allow the company to raise the development of the Terran R, which is a larger rocket than the first one. The rocket is currently under the building stage, and soon it will be fully reusable. The first launch of Terran R is estimated to be in the year 2024. In an interview, Tim Ellis, a CEO of Relativity, stated their plans for the Terran R, which dates back to the company’s founding in the Y combinatory business accelerator.