Morgan Stanley joins venture firms betting space start-up Vector can launch a lot of small rockets [CNBC]
Morgan Stanley (MS)
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Source: CNBC
show chapters Rocket builder Vector said Friday it has raised $70 million in a round of financing, with a Morgan Stanley alternative investment fund joining Silicon Valley backers. Vector is developing small rockets priced at less than $3 million a launch. They are designed to be capable of putting up satellites and spacecraft about the size of a microwave, which are 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 with flying as a rideshare 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. We're looking to fly up to a dozen next year, Ca
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