Kanematsu-backed microsatellite launch company Vector has halted operations indefinitely after a major change in financing, less than a year after lining up $70m in series B capital.

Vector, a US-based microsatellite launch services provider backed by diversified conglomerate Kanematsu, wound down indefinitely on Friday due to a “major change in financing”. Founded in 2016, Vector was working on rockets designed to launch microsatellites into orbit. Its first launch vehicle, Vector-R, was expected to carry a satellite weighing up to 60 kilograms, while…

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