Apex, a private space startup established in 2022, said on Friday it secured more than $200 million in a new financing round that more than doubled its valuation to $2.3 billion in less than a year.
The latest round was led by Glade Brook Capital Partners and co-led by Washington Harbour Partners, with participation from the companys existing investors. Apex said it will use the fresh capital to expand its satellite manufacturing campus and to finance ahead-of-need manufacturing of its satellite platforms.
Apex builds satellite buses intended to host both commercial and government payloads, including Earth-imaging systems and sensors designed for missile tracking and defense applications. The company described the additional manufacturing capacity as a step toward being able to produce satellite platforms in advance of expected demand.
Separately, Apex confirmed it will work with Northrop Grumman on efforts to support the development of the Golden Dome missile defense project tied to the U.S. presidential administration. The company also named Michael Kopet as its chief financial officer.
The new valuation marks a significant jump from the firms valuation in September of last year, when Apex was valued at $1 billion after raising $200 million in that funding round. The companys recent financing more than doubled that figure in under 12 months.
Context and intent for proceeds
Apex said the proceeds will be allocated toward enlarging its manufacturing campus footprint and toward ahead-of-need production of satellite platforms. The companys focus on satellite buses positions it to supply platforms that carry imaging payloads and defense-related sensors.
Corporate updates
- Michael Kopet was appointed chief financial officer.
- Northrop Grumman will collaborate with Apex to support Golden Dome missile defense work.
- The financing round was led by Glade Brook Capital Partners and co-led by Washington Harbour Partners, with existing investors participating.
Additional details on the timing of campus expansion, production schedules for the ahead-of-need manufacturing effort, and the specific scope of the collaboration with Northrop Grumman were not disclosed.