Apex Raises $200 Million Series D Financing
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LOS ANGELES, Sept. 12, 2025 ~ Apex, a leading spacecraft manufacturer known for its mass-produced and configurable satellite bus platforms, has recently announced a significant milestone in its growth. The company has successfully raised $200 million in its Series D funding round, led by Interlagos. This latest round of funding has boosted Apex's valuation to over one billion dollars, positioning the company as the preferred partner for both global commercial and government customers looking to build the next generation of satellite constellations.

According to Apex CEO and co-founder Ian Cinnamon, this new funding will allow the company to expand its production capacity and better serve its partners in deploying spacecraft at scale. With proven hardware already in orbit and production ramping up quickly, Apex is well-equipped to meet the growing demand for satellite constellations across various industries such as communications, sensing, and national security.

This Series D funding comes just months after Apex's successful Series C round, which reflects the company's continued momentum and strong customer demand. It also signals investor confidence in capturing even greater global demand for large-scale low Earth orbit (LEO) constellations. The additional funds will further strengthen Apex's ability to deliver on future constellation programs.

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Interlagos founder and CEO Achal Upadhyaya believes that Apex is driving one of the most significant shifts in the space industry today by providing a solution for customers building modern constellations. He also highlights Apex's focus on production rate and scale as crucial for both national security missions and high-performance commercial constellations. The partnership between Interlagos and Apex began three years ago, and this Series D funding will enable them to accelerate their business as they expand their technical and commercial capabilities globally.

As Apex continues to grow, it remains committed to its vertical integration strategy. This approach allows the company to control key parts of its supply chain, ensuring efficient production of spacecraft at constellation-scale. In addition to insourcing avionics and power systems, Apex recently acquired Phase Four's Hall-effect Thruster (HET) technology. This acquisition will enable Apex to accelerate in-house production of propulsion systems and reduce risk for a critical bus subsystem.

To accommodate its increased production capacity, Apex has signed a lease to more than double its Los Angeles-based Factory One footprint. The new 55,000-square-foot facility, adjacent to its existing site in Playa Vista, is expected to be operational next year. According to CTO and co-founder Maximilian Benassi, this expansion will not only accelerate spacecraft production by 50 percent but also provide space for research and development, vertical integration of strategic components, and expanded mission services and payload integration.

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This successful funding round marks a significant milestone for Apex as it continues to grow and expand its capabilities. The company recently announced Comet, its largest and most powerful satellite bus designed for large-scale commercial and defense constellations. It also celebrated the one-year-on-orbit success of its first Aries spacecraft, demonstrating the reliability of its productized approach. This Series D round builds on the momentum of Apex's Series C funding, which supported the development of multiple new bus platforms: GEO Aries, Nova, and Comet.

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