Los Angeles-based aerospace company Relativity Space has secured $140 million in Series C funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced Oct. 1 and led by Bond.
According to its Crunchbase profile, "Relativity is disrupting 60 years of aerospace manufacturing by creating an entirely new process to build and fly rockets. Led by co-founders Tim Ellis and Jordan Noone, the company has created the world’s largest metal 3D printer to 3D print their own rockets and launch satellites into space. Relativity’s process cuts rocket part count by 100x and enables rockets to be built in days instead of years."
The four-year-old startup has raised three previous funding rounds, including a $35 million Series B round in 2018.
The round brings total funding raised by Los Angeles companies in manufacturing over the past month to $141 million. The local manufacturing industry has produced 19 funding rounds over the past year, yielding a total of $398 million in venture funding.
In other local funding news, fintech company Dave announced a $50 million Series B funding round on Sept. 30, financed by Norwest Venture Partners.
According to Crunchbase, "Dave is an app that predicts your upcoming expenses and alerts you if your balance is at risk of overdraft. It's like a weather forecast for your checking account. Dave also lets you prevent overdraft fees by letting you tap into your upcoming paycheck at absolutely no interest."
Founded in 2016, the company has raised five previous rounds, including a $110 million debt financing round earlier this year.
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