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

June 5 (Reuters) - 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.

Here are some more details:

• 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.

(Reporting by Zaheer Kachwala in Bengaluru; Editing by Vijay ‌Kishore)

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