Apex Raises $95M Series B

Apex, a Los Angeles, CA-based spacecraft manufacturing company, raised $95m in Series B funding.

The round was led by XYZ Venture Capital, and co-led by CRV, alongside new investors Upfront, 8VC, Toyota Ventures, Point72 Ventures, Mirae Asset Capital, Outsiders Fund, GSBackers, existing investors Andreessen Horowitz, Shield Capital, J2 Ventures, Ravelin, angels Baiju Bhatt, co-founder of Robinhood, and Avalon Capital Group, private investment company founded by Ted Waitt, co-founder of Gateway, Inc.

The company intends to use the funds to increase production to meet customer demand, following the launch of its first bus in March 2024 and a growing number of customers.

Led by CEO and Founder Ian Cinnamon, Apex is a manufacturer of productized satellite buses, which are the core set of components of any spacecraft, allowing it to move around, communicate, provide power, and more. Customers attach their payloads, such as sensors or radios, to the satellite bus, letting them accomplish their missions.

Apex has already secured orders from a range of customers, including top-tier prime contractors including the U.S. Department of Defense and others.