💰The Funding Letter #1660: April 30

Apex, Utilidata, P-1 AI, and more...

April 30, 2025

Good Morning! This exclusive edition of The Funding Letter comes to you from our headquarters in New York City.

Hit the Gong 🎉

Source: @sales_bant_er

Daily Deals 💸

🌎 Americas

Apex provides scalable commercial spacecraft platforms that focus on software, vertical integration, and manufacturable hardware, allowing rapid deployment for earth observation, communications, and more. View on: LinkedIn.com | Sales Navigator.

New Funding Raised: $200M, Series C

Round Investors: 8VC (lead), Point72 Ventures (lead), Andreessen Horowitz, StepStone Group

🚀Growth Focus: Scale production to meet rapidly expanding customer demand for its satellite bus platforms.

HQ: Los Angeles, CA

Industry: Defense and Space Manufacturing

Employee Count: 137 (⚡73% increase in last 6 months)

Utilidata has developed an AI-powered technology to bring open-source distributed AI to the edge of the electric grid to accelerate decarbonization and serve people, enabling utilities to accelerate decarbonization. View on: LinkedIn.com | Sales Navigator.

New Funding Raised: $60.3M, Series C

Round Investors: Renown Capital Partners (lead), Keyframe Capital Partners, NVIDIA, Quanta Services

🚀Growth Focus: Scale Karman, its distributed AI platform developed in collaboration with NVIDIA, over the last four years.

HQ: Ann Arbor, MI

Industry: Utilities

Employee Count: 90 (⚡13% increase in last 6 months)

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