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Space manufacturing company locked up a $95 million Series B led by and to ramp up its production of satellite buses.

The Los Angeles-based space tech startup is helping streamline the approach to satellites with the ability to mass produce spacecraft buses 鈥� the main body and structural component of satellites 鈥� to help growing demand from customers like the .

The new cash will allow the company to increase production to meet customer demand 鈥� following the launch of Apex’s first bus in March.

Apex also just recently opened a new factory to help the company step-up production.

“The West cannot achieve the capabilities we need in space at the necessary scale and speed without a productized approach to powering and supporting satellites,” said Apex CEO and founder , in a . “Coming on the heels of our first launch and numerous bus sales to commercial, government, and international customers, this fundraise is a vote of confidence in Apex’s vision and success.鈥�

Founded in 2022, the company has raised $122 million, .

Space tech funding

Apex seems to be riding the wave of growing interest in space tech among investors.

Funding to VC-backed space tech startups appears to be on the uptick this year, per .

Last year, space tech startups raised $5.8 billion. However, through less than half of this year, such startups have already seen $3.3 billion roll into their coffers.

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