Negocio de autobuses satelitales de Apex recibe $95 millones en nueva financiación
Tras el éxito de su primera misión, el fabricante de satélites Apex ha conseguido $95 millones en capital nuevo para expandir sus operaciones.
Fresh off the success of its inaugural mission, Apex, a satellite manufacturer based in Los Angeles, has secured $95 million in new funding to expand its activities. The startup accomplished the launch and operation of its first spacecraft, named Aries, in March, which unfolded smoothly – a rarity in the space sector. With this milestone achieved, the company is now concentrating on its growth strategy. This plan involves ramping up the production of the Aries model and venturing into the development and manufacturing of Nova, a spacecraft twice the size of Aries. Apex is set to produce five Aries vehicles just this year, according to Ian Cinnamon, the CEO, and co-founder.
The foundation of Apex was built on the belief that one of the primary barriers hindering the space industry's advancement was the manufacturing of satellite buses. Cinnamon and his co-founder, Maximilian Benassi, intend to standardize the production of satellite buses, which historically required customized engineering processes and lengthy lead times. By doing so, they aim to enhance the capacity for companies to transport their payloads to orbit at a faster pace. The decrease in launch expenses, thanks to SpaceX Falcon 9 ride-share missions, has driven up the demand for space access and created ideal conditions for a standard spacecraft to thrive in the market.
The concept of productization has laid a robust groundwork for the business, emphasized Cinnamon. By being transparent about their pricing strategy, unit economics, and profit margins, Apex can offer clear financial insights to their clients. The company does not compete based on price but occasionally commands a premium for swift delivery. Investors found this clear economic model appealing, especially in the current tech investment landscape, where fundamentals are highly valued.
One advantage for Apex is that most clients are not looking to purchase a single satellite but multiple units, often as part of a constellation-building process. Currently comprising around fifty employees, the company plans to double its workforce by the end of this year. The funding round was spearheaded by early investors XYZ Venture Capital and co-led by CRV, with the participation of new investors like Upfront, 8VC, Toyota Ventures, Point72 Ventures, Mirae Asset Capital, Outsiders Fund, GSBackers, and existing backers such as Andreessen Horowitz, Shield Capital, J2 Ventures, Ravelin, Robinhood co-founder Baiju Bhatt, and Avalon Capital Group.