Phantom Space raises $5 million in investment capital
Rising from the ashes: Phantom Space, the new startup smallsat rocket company created by Jim Cantrell, the former CEO of the smallsat rocket company Vector, has now successfully raised $5 million in seed money to begin development of its rocket, dubbed Daytona.
The expendable Daytona will be powered by eight Hadley engines — seven on the first stage and one on the upper stage. The engines are an example of Phantom Space’s strategy of leveraging externally developed tech; Hadleys are built by Denver-based company Ursa Major Technologies.
According to my sources, the reason Vector never flew and Cantrell and the company parted ways was that the engines they were building for the rocket ended up under-powered. It seems Cantrell has taken a different approach with his new startup by buying engines from an outside source instead of building them in house.
Rising from the ashes: Phantom Space, the new startup smallsat rocket company created by Jim Cantrell, the former CEO of the smallsat rocket company Vector, has now successfully raised $5 million in seed money to begin development of its rocket, dubbed Daytona.
The expendable Daytona will be powered by eight Hadley engines — seven on the first stage and one on the upper stage. The engines are an example of Phantom Space’s strategy of leveraging externally developed tech; Hadleys are built by Denver-based company Ursa Major Technologies.
According to my sources, the reason Vector never flew and Cantrell and the company parted ways was that the engines they were building for the rocket ended up under-powered. It seems Cantrell has taken a different approach with his new startup by buying engines from an outside source instead of building them in house.








