Introduction to Space Manufacturing
Less than a year after securing a $95 million Series B, space manufacturing company Apex has successfully raised a $200 million Series C led by 8VC and Point72 Ventures. This significant investment also saw participation from notable investors such as Andreessen Horowitz, Washington Harbour Partners, and StepStone Group.
The Mission of Apex
The Los Angeles-based startup is revolutionizing the approach to satellites by mass-producing spacecraft buses, which are the main body and structural components of satellites. This innovative approach is designed to meet the increasing demand from customers, including the U.S. Department of Defense. According to founder and CEO Ian Cinnamon, "Apex’s approach to building spacecraft is key to America realizing its commercial and national security strategies in space." This successful raise will accelerate Apex’s production, enabling the company to expand its inventory ahead of demand and better support the missions of its customers.
Investment in Space Technology
Current Trends
The defense tech sector has been gaining attention from investors, with significant amounts of money being poured into the industry. However, space tech investment has been slower to take off, with only $1.7 billion invested in VC-backed startups in Q1, according to Crunchbase data. In comparison, the total investment in space tech for the whole of last year was $12.5 billion.
Notable Investments
Despite the slower investment pace, the sector has seen some substantial funding rounds this year. For example, reusable rocket startup Stoke Space secured a $260 million Series C, and Epirus raised a $250 million Series D. These investments indicate a growing interest in space technology and its potential for innovation and growth.
Conclusion
In conclusion, Apex’s successful Series C funding round is a significant milestone for the company and the space manufacturing industry as a whole. As the demand for space technology continues to grow, driven by government and commercial interests, companies like Apex are well-positioned to capitalize on this trend. With its innovative approach to spacecraft production, Apex is set to play a key role in shaping the future of the space industry. As investment in space tech continues to gain momentum, it will be exciting to see how companies like Apex contribute to the advancement of space exploration and development.
