Morgan Stanley joins venture firms betting space start-up Vector can launch a lot of small rockets
October 22, 2018
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.