Vector obtains $21 million in funding
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Capitalism in space: The smallsat rocket company Vector has obtained $21 million in new funding, making it possible for it to accelerate its test rocket schedule.
With this most recent round of funding, Vector will accelerate the company’s upcoming flight test series and launch orbital customer missions in early 2018. Vector’s next launch is planned for Summer 2017, making it the first launch ever from the historic Spaceport Camden in Georgia, where NASA tested rocket engines in the 1960s. In addition to flight test launch activities, Vector plans to develop its first GalacticSky satellites and break ground on a world-class rocket factory in Pima County, Arizona.
It seems that the smallsat market is going to get very crowded in the next few years. As much as I am in favor of this, we must also recognize that it is likely that the market will not be able to support all the companies now pushing to grab that business. Some are going to fail, though I have no idea at this point which companies that will be.
Not that this is a bad thing. Competition requires many companies. It also requires failure, balanced with much success.
Please consider donating to Behind the Black, by giving either a one-time contribution or a regular subscription, as outlined in the tip jar to the right or below. Your support will allow me to continue covering science and culture as I have for the past twenty years, independent and free from any outside influence.
Capitalism in space: The smallsat rocket company Vector has obtained $21 million in new funding, making it possible for it to accelerate its test rocket schedule.
With this most recent round of funding, Vector will accelerate the company’s upcoming flight test series and launch orbital customer missions in early 2018. Vector’s next launch is planned for Summer 2017, making it the first launch ever from the historic Spaceport Camden in Georgia, where NASA tested rocket engines in the 1960s. In addition to flight test launch activities, Vector plans to develop its first GalacticSky satellites and break ground on a world-class rocket factory in Pima County, Arizona.
It seems that the smallsat market is going to get very crowded in the next few years. As much as I am in favor of this, we must also recognize that it is likely that the market will not be able to support all the companies now pushing to grab that business. Some are going to fail, though I have no idea at this point which companies that will be.
Not that this is a bad thing. Competition requires many companies. It also requires failure, balanced with much success.
That is the beautiful part of free market capitalism. The companies that provide a better service or a more desirable price are the ones that are efficient enough to survive. The others either have to improve their efficiency or get out of the business. This means that the investors (like those investing $21 million) are eager that the company do well.
Lockheed Martin recently announced the end of their Athena rocket business, which launched small satellites to orbit as well as the Lunar Prospector probe. Athena couldn’t compete with the new rockets coming on the market, and was so expensive that it only launched half a dozen times over the past two decades.
Congratulations to Vector for making it this far — it isn’t easy — and I wish Vector continued success in the future.