Synopsis
Space startup Apex has seen its valuation surge to $2.3 billion. This comes after a new funding round where the company raised over $200 million. The investment will fuel Apex's expansion in satellite manufacturing. The firm, founded in 2022, builds satellite buses for various payloads. Apex is also collaborating on a missile defense project.Listen to this article in summarized format
The fundraise comes amid heightened investor enthusiasm in space exploration and defense, driven by expanding commercial satellite networks, government-led defense opportunities and buzz around a SpaceX IPO.
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The funding round was led by Glade Brook Capital Partners and co-led by Washington Harbour Partners with participation from existing investors.
New capital will accelerate Apex's expansion of its satellite manufacturing campus and fund "ahead-of-need manufacturing" of its satellite platforms, the company said. Founded in 2022, Apex builds satellite buses designed to host commercial and government payloads such as Earth-imaging capabilities and sensors for missile tracking and defense.
Earlier this week, Northrop Grumman said it will collaborate with Apex to support the development of U.S. President Donald Trump's Golden Dome missile defense project.
Apex also named Michael Kopet as its chief financial officer.
The company was valued at $1 billion in September last year after raising $200 million in a funding round.
