TLDR:
- Space manufacturing company Apex raised $95 million in Series B funding to ramp up production of satellite buses.
- Apex aims to meet growing demand from customers like the U.S. Department of Defense by mass producing spacecraft buses.
Space tech startup, Apex, based in Los Angeles, secured a $95 million Series B funding round led by XYZ Venture Capital and CRV. The funding will allow Apex to increase production of satellite buses, the main body and structural component of satellites. This move comes in response to the rising demand for satellite buses from customers such as the U.S. Department of Defense. The company recently launched its first bus in March and opened a new factory to accelerate production.
Founded in 2022, Apex has now raised a total of $122 million. CEO and founder Ian Cinnamon expressed the importance of streamlining the approach to powering and supporting satellites to meet the West’s space capabilities needs. This latest funding round follows multiple bus sales to commercial, government, and international customers, signaling confidence in Apex’s vision and success.
The space tech sector has been seeing increased interest from investors, with an uptick in funding to VC-backed startups. Last year, space tech startups raised $5.8 billion, and the sector has already attracted $3.3 billion in funding in less than half of this year. This trend indicates a growing enthusiasm for space-related innovations among investors.
