Morgan Stanley joins venture firms betting space startup Vector can launch a lot of small rockets [CNBC]
Morgan Stanley (MS)
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Source: CNBC
show chapters Small rocket builder Vector raised $70 million in a round of financing announced Friday, with a Morgan Stanley alternative investment fund joining Silicon Valley backers of the space company. Vector is developing rockets priced at less than $3 million a launch, capable of putting up satellites and spacecraft about the size of a microwave, a premium part of the rocket market. Small rockets can save customers months of time getting to orbit but come at a higher cost compared to flying as a rideshare, or secondary payload, on a larger rocket like the SpaceX Falcon 9 rocket. CEO Jim Cantrell told CNBC that Vector is trying to do essentially what Henry Ford did with the automobile assembly line, but with rockets. Vector's end goal is to be launching more than 100 times each year, with this latest round of funding intending to get its two rocket types, the Vector-R and the Vector-H, flying to orbit – and flying often. We're looking to fly up
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