Apex Spacecraft Raises $95M Series B Led by XYZ and CRV to Scale Satellite Bus Production

Jun 12, 2024, 04:54 PM

Apex Spacecraft, a Los Angeles-based space manufacturing company, has secured $95 million in a Series B funding round. The round was led by XYZ Venture Capital and CRV, with participation from investors including Upfront Ventures, 8VC, P72 Ventures, Toyota Ventures, a16z, ShieldCapVC, and RavelinCap. The funding will enable Apex to scale its manufacturing and production of satellite buses, addressing a significant bottleneck in the defense and space industry. Apex's progress is driven by its team, including Ian Cinnamon and Max Benassi. The company aims to meet the growing demand from customers, such as the Department of Defense, by allowing faster and more frequent access to space.