Close Menu
    Facebook X (Twitter) Instagram
    Parhlo WorldParhlo World
    • Home
    • Life
    • Entertainment
    • News
    • World
    • Business
    • Technology
    • More
      • Celebrities
      • Sports
    Parhlo WorldParhlo World
    Home»Business»Apex Gets $95M In New Funding For Its Off-The-Shelf Satellite Bus Company
    Business

    Apex Gets $95M In New Funding For Its Off-The-Shelf Satellite Bus Company

    DavidBy DavidJune 12, 2024Updated:June 12, 2024No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Apex Gets $95M In New Funding For Its Off-The-Shelf Satellite Bus
    Share
    Facebook Twitter LinkedIn Pinterest Email

    After a successful first flight, Apex, a company that makes satellites, has raised $95 million to grow its business.

    The Los Angeles-based company launched and took delivery of its first spacecraft, a model named Aries, in March. That mission seems to have gone off without a hitch, which doesn’t happen very often in the space business. Now that the company has a history of successful flights, it is fully focused on growth.

    Among other things, that means making more of the Aries car and putting money into making Nova, a spaceship that weighs about twice as much as Aries. Ian Cinnamon, CEO and co-founder of Apex, told TechCrunch that the company is on track to make five Aries this year alone.

    Apex was created with the idea that making satellite buses was one of the main things stopping the growth of the space business. Cinnamon and his cofounder, Maximilian Benassi, want to commercialize (make and sell in standard formats) satellite buses. Until now, these buses had to go through custom engineering processes and had very long lead times. They also want to make it easier for more companies to send their payloads into orbit.

    Launch costs have gone down thanks to SpaceX Falcon 9 ride-share missions, which has raised demand for access to space. These changes have also made it possible for a productized spacecraft to do well on the market. Customers are paying the same amount for a ride to orbit up to a certain volume size. Cinnamon and Benassi understood that spacecraft could be made the same, and even a little over-engineered, so the customer wouldn’t have to pay more for launch.

    #Tazow Apex’s off-the-shelf satellite bus business attracts $95M in new funding https://t.co/D268G51uLu #crypto pic.twitter.com/AZ5zqmt7u9

    — Tazow – $TZW (@_Tazow) June 12, 2024

    Cinnamon said that the business has a strong base thanks to its focus on productization. “We can very clearly point out, here’s the selling price, here’s our unit economics, and here’s the margin we have for every single satellite bus that we’ve sold or are in the process of selling,” he said. “We’re also very honest with our customers about the fact that we’re not trying to have the lowest prices on the market. Sometimes we can charge more for very fast delivery.”

    It’s clear that buyers were drawn to this clear picture of the economy. “Investors still have that strong desire to put their money to work on businesses where they can really see the fundamentals,” Cinnamon said. There’s been a lot of talk about hard tech lately.

    Cinnamon says that one thing that is working in the company’s favor is that most buyers don’t want to buy just one satellite, but several, and they often want to make purchases over time as a constellation is built.

    There are almost fifty people working for the company, and that number will probably double by the end of the year.

    Also Read: Surprisingly, Japan’s Moon Lander Makes It Through the Second Lunar Night

    XYZ Venture Capital and CRV, two early investors in Apex, led the funding round. Upfront, 8VC, Toyota Ventures, Point72 Ventures, Mirae Asset Capital, Outsiders Fund, and GSBackers were among the new investors, as well as existing investors Andreessen Horowitz, Shield Capital, J2 Ventures, Ravelin, Robinhood co-founder Baiju Bhatt, and Avalon Capital Group.

    What do you say about this story? Visit Parhlo World For more.

    Featured
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    David

    Related Posts

    Married at First Sight Season 17 Cast: Everything We Know So Far

    May 9, 2025

    Sandman Season 2 Netflix Release Update: All You Need to Know

    May 8, 2025

    Everything We Know About Reacher Season 3 So Far

    May 7, 2025

    My Happy Marriage Season 2: Release Date & Delay News

    May 5, 2025
    Add A Comment

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Popular Posts

    Android Apps Will No Longer Work With Windows 11

    March 6, 2024

    Top Positive Effects Of Goat Milk For Healthy Skin

    September 12, 2023

    AV Tub Explored: The Ultimate Guide to Audio-Visual Magic

    January 28, 2023

    Parhlo world

    world.parhlo.com is the leading open platform that represents the voice of youth with viral stories and believes in not just promoting talent and entertainment but in liberating world youth and giving rise to young changemakers!




    Our Picks

    Married at First Sight Season 17 Cast: Everything We Know So Far

    May 9, 2025

    Sandman Season 2 Netflix Release Update: All You Need to Know

    May 8, 2025

    Everything We Know About Reacher Season 3 So Far

    May 7, 2025
    Quick Links
    • Home
    • Life
    • Entertainment
    • News
    • World
    • Business
    • Technology
    • More
      • Celebrities
      • Sports
    Parhlo World © 2014-2025. All Rights Reserved.
    • Home

    Type above and press Enter to search. Press Esc to cancel.