Eric Schmidt backs struggling 3D-printed rocket startup Relativity Space

In the United States, Eric Schmidt, the former CEO of Google, has made a significant investment in Relativity Space, a company focused on developing rockets that are primarily created using 3D printing technology. Founded in Long Beach, California, in 2015, Relativity Space aims to revolutionize the aerospace industry with innovative manufacturing processes that could streamline production and reduce costs. The company recently faced challenges in raising funds necessary for the development of its next-generation rocket, the Terran R, following an unsuccessful launch of its earlier rocket, Terran 1. Relativity Space initially launched Terran 1 in 2023; however, it did not achieve orbit, prompting the company to pivot its goals towards the more ambitious Terran R, which is projected for launch in 2026. Valued at $4.2 billion in 2021, Relativity Space attracted investments from various notable figures, including Fidelity Management & Research Company and celebrities such as Jared Leto and Mark Cuban. Schmidt's involvement with Relativity Space reportedly began last year, and his recent investment comes at a crucial juncture as the company struggles to secure adequate financing for both the development and operation of Terran R. The emergence of companies like Relativity Space coincides with a rapidly evolving competitive landscape known as the