The Los Angeles-based startup is helping streamline the approach to satellites with the ability to mass produce spacecraft buses ' the main body and structural component of satellites ' to help meet increasing demand from customers like the U.S. Department of Defense. 'Apex's approach to building spacecraft is key to America realizing its commercial and national security strategies in space,' said founder and CEO Ian Cinnamon. 'This successful raise accelerates our production, allowing Apex to expand its inventory ahead of demand to better enable the missions of our innovative customers, including defense primes, the U.S. government and some of the most exciting companies in the country.' However, so far space tech investment has been slow. Only $1.7 billion was invested in VC-backed startups in Q1, per Crunchbase data. Last year saw a total of $12.5 billion invested in space tech for the whole year.
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