Apex, True Anomaly detail next steps after their Series C capital rounds

Apex

This satellite bus manufacturing startup, which is pushing an off-the-shelf approach, has captured approximately $200 million in Series C capital to aid in efforts to scale production of its products.

Point72 Ventures and 8VC co-led the round alongside a group of existing investors that includes Andreesen Horowitz. Washington Harbour Partners and StepStone Group are among the new investors in Apex.

In February, Apex captured a $46 million Space Force contract to manufacture and deliver an undisclosed number of satellites by 2032. That award followed a $95 million Series B round completed in June 2024 that also focused on the expansion of production capacity.

Los Angeles-headquartered Apex opened for business in 2022 and designs its buses for use cases such as missile defense, space-based interceptors, space domain awareness, communications and remote sensing constellations.

Substantially all production work takes place in Apex’s 50,000-square-foot facility called Factory One, where the company is also pushing to only need a few weeks to customize and deliver the buses from. As our partners Defense One reported in January, Apex also wants to double its workforce this year to around 200 people.

Apex’s emphasis on a more rapid production cycle is intended to fulfill requirements for programs such as the Proliferated Warfighter Space Architecture, the Space Development Agency’s missile warning and communications constellation, and the future Golden Dome national missile defense system.

True Anomaly

This maker of small satellites and other defense products centered around autonomous technology has captured approximately $260 million in Series C capital to support its push for greater vertical integration and production capacity.

True Anomaly has focused almost exclusively on defense and national security space since its 2022 start and this new raise follows a $100 million Series B round closed in late 2023.

Accel led the Series C round with participation from Meritech Capital and existing investors Eclipse, Riot Ventures, Menlo Ventures, 645 Ventures, ACME Capital, Space VC, Champion Hill Ventures and Narya. Debt capital is being provided by Stifel Bank.

True Anomaly calls its flagship spacecraft Jackal and designed it to operate in low-Earth orbit with an eye toward future operations in geosynchronous orbit and cislunar space. Jackal works to collect Earth imagery and support reconnaissance missions.

On the U.S. government front, its portfolio includes a position on Space Force’s potential $1 billion Rapid Resilient Command and Control program to develop a new ground system that leans on commercial cloud hosting capabilities.

The company’s agenda for the next 18 months includes four missions across three different orbits and a hiring push to grow its workforce to 250 employees from the current 170 figure.