Vehicle launch vehicle prototype being loaded On Transporter Elect Launcher (TEL). Photo: Vector Space Systems

[Via Satellite 11-21-2016] Vector Space Systems, a micro-satellite launch company currently trialing 12-foot prototypes of the company’s planned 42-foot launch vehicles, has received an additional $1.25 million in angel funding led by Space Angels Network, a New York-based investor in early-stage space companies.

With this additional seed financing, Vector aims to accelerate development efforts toward the goal of being one of the first commercial dedicated micro satellite launch vehicles to achieve Low Earth Orbit (LEO).

Vector’s mission is to connect space startups and innovators with affordable and reliable access to space. The company has already contracted $175 million for launch services and software-defined satellite platforms, representing 106 launches, Jim Cantrell, CEO and co-founder of Vector Space Systems, said in a statement released by the company. Vector plans to close a Series A financing round in early 2017 to further accelerate its path to space.