L.A.-based satellite manufacturer Apex has raised a $200 million funding round, hoping to scale up production at its Factory One to feed America’s growing need for readily available space tech.
Positioning itself as the world’s “only manufacturer of off-the-shelf satellite buses,” Apex aims to shorten development times of space missions to address growing demand. By stocking up satellites to be available ahead of need, the company wants to serve emerging constellation operators but also the U.S. military, which is racing to build up America’s space-based infrastructure in the face of growing geopolitical threats.
“Apex’s approach to building spacecraft is key to America realising its commercial and national security strategies in space,” Apex CEO and founder Ian Cinnamon said in a statement. “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 defence primes, the U.S. government, and some of the most exciting companies in the country.”
Global venture capital fund Point72 Ventures led the Series C funding round, hailing Apex’ vision of “revolutionising satellite bus manufacturing” to fit the fast-evolving space economy. Apex’ 50,000-square-foot Factory One aims to produce 12 satellite buses per month, hoping to eliminate manufacturing delays that plague many space infrastructure projects today
“Apex is laser-focused on what we believe missions in space need most: rapid delivery, transparent pricing, and the highest possible quality,” said Chris Morales, Partner at Point72 Ventures. “The demonstrated success of Apex’s satellite buses and the company’s innovative approach to manufacturing have helped them win the trust of customers ranging from the U.S. Space Force to industry leading primes.”
The company hopes to tap into future defence contracts including for the Golden Dome missile shield, which will require hundreds of satellites to monitor the planet, as well as space-based interceptors to destroy missiles in space.
Founded in 2022, Apex is rethinking how satellites are made, shifting from bespoke solutions that require long lead times to standardised platforms that can be configured by the end-user with the help of complex software and integration of customer payloads. The company wants to manufacture satellites for the low-Earth-orbit, medium-Earth-orbit as well as geostationary orbit region, hoping to offer significant cost-savings in all use cases. In May last year, Apex launched its first demonstration satellite, which keeps going strong after a year in space, according to Space News.
