TAMPA, Fla. — Apex has raised more than $200 million to expand in-house satellite production capabilities, announcing a funding round June 5 it says nearly doubled the four-year-old manufacturer’s valuation to $2.3 billion.
The funding round was led by investment firms Glade Brook Capital Partners and Washington Harbour Partners, which also joined launch startup Stoke Space’s Series D round last year and have invested elsewhere in the industry.
Apex has now raised more than $718 million to date, according to space analytics provider BryceTech, including a $200 million funding round nine months ago that made it one of the industry’s fastest companies to reach unicorn status, a term for privately held firms valued at $1 billion or more.
Ian Cinnamon, Apex’s cofounder and CEO, said in a media briefing that, as with previous funding rounds, the company was not driven by an immediate need for capital.
“For all these fundraisers we haven’t needed the money,” he told reporters, “but given the excitement, demand and the scale-up, we’ve decided to take on more.”
