U.S. launch startup Phantom Space has acquired assets and intellectual property from the bankrupt rocket company Vector Launch, in a move aimed at accelerating development of Phantom’s Daytona launch vehicle.
The Arizona-based company did not disclose the value of the transaction, but chief executive Jim Cantrell said the acquisition was funded through a previously unannounced Series B funding round completed late last year in the eight-figure range.
Vector Launch filed for bankruptcy in 2019 after attempting to develop a small launch vehicle. Cantrell originally founded Vector in 2016 before leaving to establish Phantom Space in 2019.
Cantrell said roughly 80% of the acquired assets will be used to support development of Phantom’s Daytona rocket.
The acquisition includes launch control center technologies, communications equipment, ground support hardware, test stand infrastructure and a mobile launcher. Engineering data, tooling equipment, a large inventory of parts and other proprietary technologies were also included in the deal.
The purchase additionally covers the launch vehicle Vector had been preparing for flight and several engines, although Phantom said some components may not be used due to differences in rocket design.
Phantom Space is preparing Daytona for stage-level testing later this year, with a first launch targeted for the second half of 2027.
The company is also developing launch infrastructure at Cape Canaveral Space Launch Complex 13 and Vandenberg Space Launch Complex 5.
Alongside its launch vehicle program, Phantom is developing a satellite constellation known as Phantom Cloud, which is designed to provide computing capacity in orbit.
Cantrell said the company now plans to advance both initiatives simultaneously rather than sequentially.
“When xAI was acquired by SpaceX, that was the equivalent of the beehive being kicked over,” Cantrell said. “We’ve been swarmed by bees, and those bees are data center companies…So we’re actually doing two things in parallel at Phantom. One is the launch vehicle—Daytona—and we’re also doing Phantom Cloud.”
Phantom said it expects to complete its first Block 1 satellites in time for an initial launch in mid-2027 on a third-party launch vehicle. The mission is expected to include payloads from partners such as Ubotica and Tropical Weather Analytics.
The company is currently raising a Series C funding round that it expects will help finance Daytona’s first flight and support additional acquisitions aimed at expanding its vertically integrated space infrastructure.
