Apex Raises $500 Million in Funding Round

The space manufacturing startup, based in Culver City, is seeking a valuation of around $4 billion.

Updated on Nov. 2, 2026 in Startups

Bold flat-color editorial illustration of a single machined cylindrical rocket-body segment in navy and cream with a brass-orange accent. — Apex is raising $500 million in a funding round led by Washington Harbour that would value the Culver City space manufacturer at about $4 billion. AI Illustration. Upload story photo >

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Apex, a space manufacturing startup based in Culver City, is raising $500 million in a round that would value the company at around $4 billion. Washington Harbour is expected to lead the round, with Andreessen Horowitz and XYZ Venture Capital also participating.

Why it matters

The round would double Apex's valuation from around $2.3 billion in April, according to PitchBook, and reflects heavy investor interest in California's aerospace sector. California's aerospace and defense sector has raised around $21 billion so far this year.

Apex's proposed $500 million round would be its sixth funding round in four years, following $400 million raised in back-to-back 2025 rounds and a $200 million round in April. Whether the round will close at the reported $4 billion valuation has not yet been confirmed.

The players

Apex

Apex is a space manufacturing startup based in Culver City that is raising $500 million at a proposed $4 billion valuation.

Washington Harbour

Washington Harbour is an investment firm headquartered in Virginia that is expected to lead Apex's funding round.

Andreessen Horowitz

Andreessen Horowitz is a Menlo Park venture capital firm participating in Apex's round.

XYZ Venture Capital

XYZ Venture Capital is a San Francisco venture capital firm participating in Apex's round.

Elveo Mobile

Elveo Mobile is a Washington, D.C.-based company that partnered with Apex on a factory to manufacture its direct-to-device satellite constellation.

The details

Apex leveraged its factory model to form a partnership with Elveo Mobile in September, and the two companies will establish a factory dedicated to scale manufacturing Elveo's direct-to-device satellite constellation. Impulse Space and K2 Space, both founded in 2022, have each raised five rounds.

Apex was founded in 2022.
Apex raised $400 million in back-to-back rounds in 2025.
Apex closed a $200 million round in April 2026 at a $2.3 billion valuation.
Apex and Elveo Mobile announced their factory partnership in September 2026.
California's aerospace sector had raised around $21 billion by the end of October 2026.

Market Landscape

Apex's proposed round would roughly double the $2.3 billion valuation PitchBook recorded in April, placing it among a cluster of space startups founded in 2022 such as Impulse Space and K2 Space, which have each raised five rounds. The round points to sustained investor demand in California's aerospace and defense sector, which has raised around $21 billion so far this year.

For Californians tracking the state's startup economy, the round signals continued strong venture funding in aerospace, which can shape job growth and hiring in the sector. Investors and employees in Culver City and across the state may see the effects in future company expansion and partnership activity.

The takeaway

Large funding rounds for early-stage manufacturers suggest that investors are backing physical production capacity, not just software, in the space economy. Readers tracking California's startup sector should watch whether the round closes at the proposed valuation.