Former Google CEO Eric Schmidt reported to be investing in Relativity Space
According to Bloomberg, former Google CEO Eric Schmidt has made a significant investment in Relativity Space, a Long Beach, California, USA, based company that produces additively manufactured rockets. The exact amount of the investment remains undisclosed.
According to Bloomberg‘s source, Schmidt has been backing the company since 2024.
In 2021, the rocket company achieved a valuation of $4.2 billion, with investors including Fidelity Management & Research Company, Jared Leto and Mark Cuban.
Relativity didn’t comment on Schmidt’s investment directly, but shared the following statement, “We continue to align ourselves with strong capital partners who believe in our mission and are supporting our ambitious programs.”
Schmidt is also linked to a new investment fund called America’s Frontier Fund (AFF), which “spans across three business verticals: an investment platform that backs founders building the next industrial revolution, a network of venture studios that are creating breakthrough frontier technologies, and a nonprofit foundation dedicated to re-awakening America’s innovation base.”
After Relativity Space launched the Terran 1 in March 2023 in a test flight that failed to reach orbit, the company started developing the Terran R, aiming to launch in 2026.
