Apex Space Lands $7.5M Seed Round led by A16Z
The Los Angeles based company is transforming satellite bus manufacturing — the part of the spacecraft that hosts the payload — in response to a massive increase in demand.
With the cost of launch declining drastically, an ever increasing number of new commercial and government payloads are operational. These payloads require platforms known as satellite buses to operate. The buses comprise the various systems needed for space operations.
Apex’s first product, the Aries satellite bus, is a 103kg platform capable of handling payloads as large as 94kg. The Aries platform comes off-the-shelf, or can be configured to meet the mission needs of companies operating in low earth orbit.
This $7.5M seed round will enable the company to ramp up hiring and production timelines. The seed round was led by Andreessen Horowitz, with participation from XYZ, J2, Lux Capital, and Village Global.
This article first appeared on SeedWeek.
