Apex Expands Production Capacity with $200M Series D Funding

What's Happening?

Apex has closed a $200 million Series D funding round, led by Interlagos, to boost its production capacity and meet growing customer demand. The funding values the satellite manufacturer at over $1 billion. Apex plans to more than double its manufacturing footprint in Los Angeles by leasing a new 55,000 sq. ft. facility next to its existing factory. This expansion will increase satellite bus production by 50%. The Series D follows a Series C round of the same value, aimed at increasing vertical integration and stocking more parts.

Why It's Important?

The Series D funding round highlights Apex's strategic growth in the satellite manufacturing industry. By expanding its production capacity, Apex is better positioned to meet the increasing demand for satellite buses, which are essential for both commercial and defense applications. The involvement of Interlagos, with its expertise in sales, further strengthens Apex's market position. This development is crucial for stakeholders in the space industry, as it enhances production capabilities and supports the deployment of modern satellite constellations.

What's Next?

Apex plans to begin operations in its new facility next year, accelerating its production goals. The company is focusing on vertical integration to streamline its supply chain and improve efficiency. Apex's recent milestones, including winning a $45.9 million Space Force contract and unveiling its new satellite bus, Comet, indicate its commitment to innovation and growth. As demand for satellite buses continues to rise, Apex is poised to expand its customer base and production capacity, potentially influencing the competitive landscape in the satellite manufacturing sector.