Apex Secures $200 Million Series C Funding for Space Manufacturing
Less than a year after raising $95 million in Series B funding, Los Angeles-based space manufacturing company Apex has successfully completed a $200 million Series C round. This investment was led by 8VC and Point72 Ventures, with additional support from notable investors including Andreessen Horowitz, Washington Harbour Partners, and StepStone Group.
Scaling Production to Meet Demand
Apex’s innovative approach focuses on the mass production of spacecraft buses, essential components that form the structural backbone of satellites. This capability positions the company to effectively address the rising demand from key clients, including the U.S. Department of Defense.
“Apex’s approach to building spacecraft is key to America realizing its commercial and national security strategies in space,” stated Ian Cinnamon, founder and CEO of Apex. “This successful raise accelerates our production, allowing Apex to expand its inventory ahead of demand to better enable the missions of our innovative customers, including defense primes, the U.S. government, and some of the most exciting companies in the country.”
Investment Landscape in Space Tech
The space technology sector has recently garnered increased attention from investors, particularly in defense technology, as private funding has surged. However, the overall space tech investment landscape remains cautious, with only $1.7 billion funneled into VC-backed startups in Q1, based on data from Crunchbase. In contrast, the previous year saw total investments reach $12.5 billion.
This year has still witnessed significant funding rounds, exemplified by reusable rocket startup Stoke Space’s $260 million Series C and Epirus’s $250 million Series D.
Conclusion
Apex’s latest funding round signifies growing confidence in the space manufacturing sector, highlighting the ongoing demand for satellite technology amid evolving defense needs. As Apex prepares to scale its operations, it promises to play a pivotal role in supporting both commercial and national security initiatives in space.
