Apex Secures $200 Million in Series C Funding to Increase Satellite Bus Manufacturing
Apex, a satellite manufacturer, has secured $200 million in funding to increase production capacity of satellite buses and address the rising demand for its configurable spacecraft platforms. Apex’s standardized satellite bus platforms allow for quicker deployment compared to custom-built spacecraft. The company also aims to pursue Golden Dome missile defense shields contracts in the future, it announced this week. "We are positioning the company to be the primary platform provider for Golden Dome and associated capabilities," stated Apex CEO Ian Cinnamon.
Although Apex currently holds no contracts for Golden Dome, companies are preparing for significant funds from the Pentagon towards one of President Donald Trump's key initiatives. Congress has indicated it may allocate $27 billion to finance the initial stages of Golden Dome, which includes new satellites and anti-ballistic missile interceptors.
Apex’ latest funding round was led by Point72 Ventures and co-led by 8VC, with existing investor Andreessen Horowitz and new investors Washington Harbour Partners and StepStone Group participating. The round was oversubscribed, with three times the demand for the $200 million Apex raised. “Investor interest, it seems like, has steadily grown over time as we continue to put more satellites under contract with customers,” said Cinnamon. This investment brings Apex's total funding to over $300 million since its establishment in 2022.
CEO Ian Cinnamon explained that the company has experienced a fivefold increase in demand over the past 9-10 months. Apex, based in Los Angeles, plans to utilize the new capital to maximize production at its 50,000-square-foot manufacturing facility, aiming to produce up to 12 satellite buses per month, and increase vertical integration of its satellite manufacturing processes. "We build satellites in advance of demand," Cinnamon remarked, "reducing lead times to days or weeks rather than years." He also noted that a substantial portion of the funds will be allocated for purchasing inventory components and constructing numerous satellite buses speculatively for various space programs. Apex's clientele includes defense contractors, government agencies, and commercial satellite operators, with notable growing interest from national security customers.