We’re thrilled to release this episode to commemorate the one year anniversary of Apex’s Aries SN1 on orbit!
About Ian Cinnamon
Ian Cinnamon is the co-founder and CEO of Apex Space, bringing a unique background that spans from gaming and software to defense technology. A serial entrepreneur, Ian's journey began right after college when he worked as a technology advisor to Mark Pincus at Zynga, later starting a gaming company that the company acquired. Following this experience, Ian founded Synapse Technology, an AI and computer vision company for national security applications based on research he had done while at MIT.
After Synapse was acquired by Palantir, Ian found himself working on applying AI to satellite imagery analysis, which revealed a critical bottleneck in the space industry: the limited availability and long lead times for satellite buses. This insight, combined with his software background and understanding of product development, led him to co-found Apex Space with Max Benassi, a veteran of SpaceX who had worked on both the Falcon 9 and Starlink programs.
Ian represents the vanguard of new defense tech founders who bridge the gap between Silicon Valley product thinking and the traditional aerospace industry.
About Apex Space
Founded in 2022, Apex Space is the world's first manufacturer of productized, configurable satellite bus platforms. Unlike traditional aerospace companies that custom-build each satellite bus for specific missions, Apex has standardized the design and manufacturing process to create what is essentially an off-the-shelf product.
The company's flagship offering is the Aries satellite bus, which comes in standard and GEO configurations priced at $3.45 million and $13.5 million respectively. These prices are transparently published on their website - a radical departure from industry norms where pricing is typically hidden behind lengthy procurement processes.
Apex assembled, integrated, and tested their first satellite bus in less than a year after starting design - an unprecedented timeline in an industry where such development typically takes 2-6 years. Their first satellite launched successfully and remains operational in orbit, proving the viability of their standardized approach.
The company has successfully raised funding from top-tier investors including Andreessen Horowitz's American Dynamism practice, XYZ Ventures, Shield Capital, and more.
Apex has a dual-use strategy, serving both commercial satellite companies and defense customers. They work both directly with government agencies (particularly when they have government-furnished payloads that need platforms) and as a component supplier to prime contractors and system integrators like Anduril.
Key Takeaways
Market Timing Creates Opportunity: The space industry underwent a fundamental shift around 2020 when SpaceX's reusable Falcon 9 dramatically increased launch frequency while reducing costs. This transformed the economics of satellite deployment, enabling a move from "exquisite" long-lasting satellites to "proliferated attritable" architectures - numerous smaller, replaceable satellites. Apex seized this moment to introduce standardized satellite buses that could be produced quickly and at scale. The lesson: sometimes the biggest opportunities emerge not from new technology, but from recognizing when market conditions have fundamentally changed.
Standardization as Competitive Advantage: In an industry accustomed to bespoke solutions, Apex made the counterintuitive choice to standardize completely. When their first commercial customer requested modifications to their standard bus, Apex refused - explaining that standardization would allow for faster delivery and flight-proven reliability. Initially rejected, they were later selected precisely because of this standardization stance. The lesson: saying "no" to customization can be a competitive advantage when it enables faster delivery, higher quality, and lower costs.
Transparency Disrupts Entrenched Markets: The space industry has traditionally operated with opaque pricing and lengthy procurement cycles. By publishing their prices openly and enabling direct purchases (even via credit card), Apex has introduced radical transparency that appeals to both commercial and government customers seeking faster procurement. The lesson: in industries with complex, slow purchasing processes, transparency can be a powerful differentiator that attracts customers looking to move more quickly.
Hybrid Teams Enable Industry Disruption: To successfully disrupt the aerospace industry, Apex deliberately built a hybrid team combining traditional aerospace expertise, "new space" veterans from companies like SpaceX, and outsiders with software and AI backgrounds. This balance allows them to move at startup speed while maintaining the reliability standards defense customers demand. The lesson: true disruption often requires combining industry insiders who understand legacy constraints with outsiders who question fundamental assumptions.
Commercial-First, Defense-Ready Strategy: While Apex was built to serve both commercial and defense markets, they strategically focused on commercial customers first. This allowed them to demonstrate capability and build credibility before approaching government buyers, avoiding the long procurement cycles and rigid requirements that can trap startups selling directly to defense customers. The lesson: for dual-use technologies, proving commercial viability first can create a stronger foundation for defense market entry.
For more on Ian: @IanCinnamon on X, LinkedIn
For more on Apex: @ApexSpacecraft on X, LinkedIn
For more Crossing the Valley: @NSheinbaum on X, LinkedIn
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