Space startup Apex doubles valuation to $2.3 billion in new funding

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.

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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.