Aidan Daly
Apex, a spacecraft manufacturing company, announced completing its Series B funding round and securing $95 million.
The investor group, led by XYZ Venture Capital, co-led by CRV and joined by other investors provided the new funding, the Los Angeles-based company said Wednesday.
Ian Cinnamon, CEO and founder of Apex, said, “The West cannot achieve the capabilities we need in space at the necessary scale and speed without a productized approach to powering and supporting satellites.”
Apex manufactures productized satellite buses. The company will use the sourced funds to increase productized satellite bus manufacturing and meet customer demand.
The spacecraft manufacturer launched its first satellite in early March this year and sold several buses to commercial, government, and international customers. According to Cinnamon, the latest fundraising activity is a vote of confidence in Apex’s vision and success.
