Vector Challenges SpaceX With $21M In Funding For Satellite Launch Systems

Vector, a developer of micro-satellite launch systems and rocket technology whose founders came from SpaceX, said on Thursday that it has raised $21‌M in a Series A funding. The funding was led by Sequoia Capital, and also included Shasta Ventures and Lightspeed. The company is based in Arizona, but the majority of its founders are from Los Angeles. The company says it has now raised $31M in total. Vector, led by CEO Jim Cantrell, is developing a rocket-pwered launch vehicle specifically aimed at launching "microsatellites" into space. The company's other co-founders include CTO John Garvey (SpaceX), here in Los Angeles; COO/CFO Ken Sunshine (Virgin Galactic, Moon Express, Orbital Science), also in LA; and VP of Enginering Eric Besnard (NASA, Air Force), also here in LA. More information »