Apex, a space manufacturing startup based in Los Angeles, has secured $200 million in Series C funding. The round was led by 8VC and Point72 Ventures, with participation from notable investors such as Andreessen Horowitz, Washington Harbour Partners, and StepStone Group. This investment comes less than a year after Apex raised $95 million in Series B funding.
Company Overview
Apex specializes in mass-producing spacecraft buses, which are the main structural components of satellites. This approach aims to streamline satellite production to meet growing demand from customers, including the U.S. Department of Defense. The company’s founder and CEO, Ian Cinnamon, stated that Apex’s manufacturing strategy is crucial for realizing America’s commercial and national security objectives in space.
Industry Context
The defense tech sector, particularly space technology, has been attracting increasing investor attention. Despite this, overall investment in space tech remains relatively low, with only $1.7 billion invested in VC-backed startups in Q1, according to Crunchbase data. For context, the total investment in space tech for the entire previous year was $12.5 billion. However, there have been significant funding rounds this year, such as Stoke Space’s $260 million Series C and Epirus’s $250 million Series D.
Future Plans
The recent funding will enable Apex to accelerate its production and expand its inventory in anticipation of demand. This will better support the missions of its customers, which include defense contractors, the U.S. government, and innovative companies in the sector. As Cinnamon noted, “This successful raise accelerates our production, allowing Apex to expand its inventory ahead of demand to better enable the missions of our innovative customers.”
