June 5 (Reuters) – Space startup Apex has more than doubled its valuation to $2.3 billion in under a year after raising over $200 million in a new funding round, the firm said on Friday, underscoring growing investor interest in the sector.
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.
Here are some more details:
• 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.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Vijay Kishore)
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