Small satellite launch startup Vector has indefinitely shut down operations "in response a major change in financing," the company confirmed. Co-founder and CEO Jim Cantrell has also been pushed out as part of the upset.
The market for small satellites in low Earth orbit is expanding faster than the gas in a thruster nozzle, and Vector aims to be the go-to launch platform for companies looking to put a bird in the air on short notice. The company just raised a $70 million B round and aims to take its first payload …
SpaceX competitor Vector raised $70 million to build more rockets. The company plans to launch its first Vector R rocket into space by the end of the year.
