Interest rates parked at a two-decade high may continue to depress some

venture capital activity but not when it comes to space tech, especially if it

involves defense and national security.

Apex Space is the latest example.

The maker of satellite buses just closed a Series B round of funding led by X, Y, Z venture

capital and CRV.

CEO and co-founder Ian Cinnamon says Apex will use the $95 million raised

to ramp production and bring more products online.

We've been very fortunate in the two years of our company's history to raise well over $125 million at this point,

and we're very fortunate that every fundraising round we've done, we've had to turn down a tremendous amount of money.

And that all stems from the fact that what we're doing here at Apex is a business where there's

a lot of market demand, but there's fundamental unit economics that

lets us grow and thrive and frankly be in a position where we don't need that investor capital.

We're just bringing it in because it lets us scale faster.

Apex's first bus, which is a satellite's main structure,

launched to orbit in March, and the company has a new factory in Los Angeles.

Commoditized mass manufactured satellite buses may be a new market, but a number of companies

have set sites on it, from Terran Orbital to C.R. Space to Rocket Lab, even as others, like

SpaceX and Amazon, have chosen to build buses themselves for

their own constellations.

We're at a point in history right now where the current markets spend on satellite buses,

so not on full satellites, but just on what we

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