Funding round
Apex Series B
Apex, which works in satellite platform manufacturing in Los Angeles, raised $95M in a Series B round announced on 12 Jun 2024, led by XYZ and CRV. 15 firms took part, 5 of them already investors, with 2 individual investors. It is Apex's third venture round on record; the one before was a Series A in Jun 2023.
$95M
Amount raised
Not disclosed
Post-money valuation
15
Investors
2 leads
Valuation
What this round says about the price
Apex did not disclose a valuation in this round. It came 12 months after Apex's Series A. It is 13% of the $719M Apex has raised in the venture rounds on record. Apex raised again 10 months later: a Series C round of $200M in Apr 2025. Its next priced round, a Series D in Sep 2025, valued it at $1.00B.
Apex's funding rounds
Apex has 6 venture rounds on record. This one is highlighted.
- Seed 24 Oct 2022, led by Andreessen Horowitz $7.5M
- Series A 22 Jun 2023, led by Andreessen Horowitz and Shield Capital $16M
- Series B this round 12 Jun 2024, led by XYZ and CRV $95M
- Series C 29 Apr 2025, led by Point72 Ventures and 8VC $200M
- Series D 12 Sep 2025, led by Interlagos $200M$1.00B post-money
- Growth 5 Jun 2026, led by Glade Brook and Washington Harbour $200M$2.30B post-money
Investors
Who put money in
XYZ and CRV led the round with 13 other firms. Andreessen Horowitz, Shield Capital, J2 Ventures and Ravelin and 1 more had backed Apex before.
Lead investors
- backs 69 venture-backed companies new investor
- CRV backs 177 venture-backed companies new investor
Also in the round
- backs 88 venture-backed companies new investor
- 8VC new investor
- backs 50 venture-backed companies new investor
- Point72 Ventures backs 72 venture-backed companies new investor
- Mirae Asset Capital new investor
- backs 8 venture-backed companies new investor
- GSBackers new investor
- Andreessen Horowitz backs 722 venture-backed companies existing investor
- backs 28 venture-backed companies existing investor
- backs 9 venture-backed companies existing investor
- Ravelin existing investor
- Avalon Capital Group existing investor
- Ted Waitt new investor
Individual investors: Larry Braitman and Baiju Bhatt.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
37 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $70M, and this round was 1.4 times the median. The closest in time, other companies' Series B rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Aerospace and Defence | 18 Jun 2024 | $25M | not disclosed | Korea Development Bank and HL Mando Corporation |
| Aerospace and Defence | 4 Jun 2024 | $16M | not disclosed | not named |
| Saronic Technologies Aerospace and Defence | 19 Jul 2024 | $175M | $1.00B | Andreessen Horowitz |
| Aerospace and Defence | 8 May 2024 | $40M | not disclosed | Chartered Group |
| Varda Space Industries Aerospace and Defence | 5 Apr 2024 | $90M | not disclosed | Caffeinated |
| Aerospace and Defence | 12 Apr 2024 | $11M | not disclosed | Carbyne Equity Partners |
| Quantum Systems Aerospace and Defence | 30 Sep 2024 | $112M | not disclosed | Notion Capital and Porsche SE |
| Forterra Aerospace and Defence | 10 Sep 2024 | $75M | not disclosed | Moore Strategic Ventures and XYZ |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Apex raise in its Series B round?
Apex raised $95M in its Series B round, announced in Jun 2024.
Who led Apex's Series B round?
XYZ and CRV led it, with Upfront Ventures, 8VC, Toyota Ventures, Point72 Ventures and Mirae Asset Capital and 8 more.
What was Apex's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Aerospace and Defence?
37 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $70M, and this round was 1.4 times the median.
Did Apex raise again after this round?
Yes: a Series C round in Apr 2025 of $200M.