"The Los Angeles-based company makes and sells satellite buses, which control operations like power generation and communication and allow for customers to add equipment such as cameras, scientific instruments or defense technology. Apex recently expanded its factory in Los Angeles, boosting production capacity from 12 to 18 satellites a month, and now the company plans on using the new funding to scale up manufacturing and become more vertically integrated, said Ian Cinnamon, chief executive officer and co-founder."
"Buying customizable satellite buses can enable operators to develop and launch satellite constellations more rapidly, according to Apex. The entire company's premise is built around high-rate manufacturing of satellites, Cinnamon said in an interview. Because of all this constellation demand that we're seeing from commercial and government customers, we want to make sure we're ramping up ahead of that. The demand for and development of large-scale satellite constellations, which can be used for Earth observation, communications and internet access, has shot up in recent years."
Apex raised $200 million in a funding round led by Interlagos, valuing the company at over $1 billion. The Los Angeles-based firm manufactures satellite buses that manage power, communications and operations while accommodating customer payloads like cameras, instruments, or defense systems. Apex expanded its Los Angeles factory, increasing production capacity from 12 to 18 satellites per month. The new capital will be used to scale manufacturing and pursue greater vertical integration. Previous investors include Point72 Ventures, 8VC and Andreessen Horowitz. Demand for large-scale satellite constellations for Earth observation, communications and internet access has surged, driven by operators including SpaceX, Amazon and Telesat.
Read at www.mercurynews.com
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