Apex Raises $200 Million Series D Financing

Increased production capacity and expanded vertical integration strengthen Apex's role as the constellation partner of choice.

LOS ANGELES, Sept. 12, 2025 /PRNewswire/ -- Apex, a leading spacecraft manufacturer of mass-produced productized, configurable satellite bus platforms, announced its $200 million Series D funding round led by Interlagos, boosting the company's valuation over one billion dollars. 

This raise positions Apex as the partner of choice for both global commercial and government customers building the next generation of satellite constellations. With proven hardware in orbit and production rapidly increasing, Apex is uniquely equipped to deliver at the speed and scale required to meet growing demand across communications, sensing, and national security constellations.

Following its Series C just months ago, Apex's Series D reflects continued momentum and strong customer demand. The latest round signals investor desire to capture even greater than anticipated global demand for large-scale low Earth orbit (LEO) constellations. The funding further strengthens Apex's ability to quickly deliver on future constellation programs.

"From day one, Apex has been about rapidly scaling satellite production to support future constellations," said Ian Cinnamon, CEO and co-founder of Apex. "This new funding allows us to do exactly that—expanding our production capacity to better serve our government and commercial partners as they deploy spacecraft at scale. Whether supporting a global connectivity network or a critical national security mission like Golden Dome, Apex is ready to deliver reliable, rapidly deployable spacecraft that make these constellations possible."

"Apex is accelerating one of the most important shifts in the space industry today by architecting a solution for customers building modern, proliferated constellations," said Achal Upadhyaya, founder and CEO of Interlagos. "Apex's focus on production rate and scale is critical for both national security missions and high-performance commercial constellations. Our partnership with Apex started nearly 3 years ago—leading this Series D today enables us to further accelerate the business as the company expands its technical and commercial capabilities globally."

As Apex continues to grow, its vertical integration strategy ensures that Apex controls key parts of its supply chain and further solidifies its ability to produce spacecraft at constellation-scale. In addition to insourced avionics, power systems, and more, Apex recently completed the acquisition of Phase Four's Hall-effect Thruster (HET) technology, allowing Apex to accelerate in-house propulsion system production and de-risk a key bus subsystem.

To unlock increased production capacity, Apex has signed a lease to more than double its Los Angeles-based Factory One footprint, adding a new 55,000-square-foot facility adjacent to its existing site in Playa Vista. "With over 100,000 square feet of total space, the expansion will accelerate spacecraft production by 50 percent while also providing room for research and development, vertical integration of strategic components, and expanded mission services and payload integration," said Maximilian Benassi, CTO and co-founder of Apex. The company expects to expand into the new building next year.

The raise caps off a milestone-filled year for Apex. The company announced Comet, its largest and most powerful satellite bus, engineered for large-scale commercial and defense constellations. Apex also celebrated the one-year-on-orbit success of its first Aries spacecraft, underscoring the reliability of its productized approach. This Series D round builds on the momentum of Apex's Series C, which provided capital to support the development of multiple new bus platforms: GEO Aries, Nova, and Comet. 

Media Contact: Claude Chafin, Invariant: [email protected]

About Apex
Apex is the leading manufacturer of high-rate configurable satellite bus platforms designed to meet the demands of the rapidly expanding space industrial base. Founded in 2022 by Ian Cinnamon and Max Benassi, Apex manufactures scalable spacecraft solutions for both commercial and government customers. The company set a world record with its first satellite bus as the fastest clean-sheet design to production spacecraft operating in space. Backed by some of the country's leading investors, Apex is committed to accelerating space innovation through high-rate manufacturing of productized, reliable satellite platforms that enable the next generation of missions. Headquartered in Los Angeles, California, Apex was named one of Fast Company's most innovative space companies in 2025. For more information, visit www.ApexSpace.com

SOURCE Apex Space