What is the story about?
What's Happening?
Satellite manufacturer Apex has raised $200 million in a Series D funding round, valuing the company at over $1 billion. The round was led by Interlagos, a venture capital firm founded by former SpaceX employees. Apex plans to use the funds to scale up production of its satellite bus lines, including leasing a second facility next to its existing Factory One building in Los Angeles. The new facility will increase production capacity by 50%, from 12 to 18 buses per month, and support mission integration activities.
Why It's Important?
Apex's successful funding round underscores the growing interest and investment in satellite technology and space infrastructure. The company's focus on vertical integration and increased production capacity positions it to meet the rising demand for satellite constellations, which are crucial for both commercial and defense applications. This development is significant for stakeholders in the space industry, including government agencies, commercial enterprises, and technology providers, as it enhances capabilities and accelerates innovation in satellite manufacturing.
What's Next?
Apex plans to move into its new facility next year, which will support its increased production goals. The company is emphasizing vertical integration to streamline its supply chain and improve efficiency. Apex's acquisition of Hall Effect thruster technology from Phase Four further strengthens its in-house capabilities. As demand for satellite buses continues to grow, Apex is poised to expand its customer base and production capacity, potentially influencing the competitive landscape in the satellite manufacturing sector.
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