Office Hours: Apex Founder Ian Cinnamon on Why LA Is the Aerospace Capital of the World

Spencer Rascoff

Spencer Rascoff serves as executive chairman of dot.LA. He is an entrepreneur and company leader who co-founded Zillow, Hotwire, dot.LA, Pacaso and Supernova, and who served as Zillow's CEO for a decade. During Spencer's time as CEO, Zillow won dozens of "best places to work" awards as it grew to over 4,500 employees, $3 billion in revenue, and $10 billion in market capitalization. Prior to Zillow, Spencer co-founded and was VP Corporate Development of Hotwire, which was sold to Expedia for $685 million in 2003. Through his startup studio and venture capital firm, 75 & Sunny, Spencer is an active angel investor in over 100 companies and is incubating several more.

​Ian Cinnamon
Ian Cinnamon

On this episode of Office Hours, Apex founder and CEO Ian Cinnamon discusses the importance of investing in space exploration and shares his thoughts on the evolving space ecosystem in Los Angeles.



Apex is a space manufacturing company that offers productized configurable satellite buses with a focus on meeting the needs of the rapidly expanding space industry.

Founded in 2022, Cinnamon strategically chose Los Angeles as home base because he is a firm believer that the city is “the aerospace capital of the world.”

“It really comes down to the caliber of the talent and the companies that have been established in this area,” he said. “Strategically, we're very close to Vandenberg Air Force Base where we have a launch facility. So driving distance to a great strategic launch facility means that years and years ago, a lot of these defense companies opened up shop in the L.A. area to be able to serve those needs.”

In the past, companies would use single- use rockets, but the surge of space startups in the area building reusable rockets has helped drive down the cost of launches.

While there has been some pushback on space exploration, Cinnamon believes that the work he and his fellow colleagues have done is significant in pushing the boundaries of what we currently know.

“All of the satellites that our buses enable and other satellite buses enable us to better map and understand climate change,” he explained. “If we can't measure it, we can't fix it because we don't know if what we're doing is actually working. But if we had never invested beyond the Moon Program decades ago, and we just had no space as a matter of focus on Earth, we wouldn't have the ability to measure our ozone layer or understand the changing climate.”

Prior to his work with Apex, Cinnamon founded Synapse which built AI systems for security and the defense industry.. It was through this experience he learned how to work with the data from different satellites of various space companies.

“In all of my conversations with these different companies that were launching their payloads into space, they would complain constantly about the satellite bus,” Cinnamon said. “They would say we're able to manufacture our payloads really quickly, we're able to sell the data. But the biggest bottleneck for us is the bus is delayed, the bus didn't work.”

As Cinnamon encountered such frequent complaints, he turned to his friend Maximilian Benassi to find a solution. That solution is Apex.

In addition to the bottlenecks the space industry was facing, Cinnamon said he also built Apex to coincide with humanity’s natural ascent into space.

“In order for that camera, or that sensor or that human life support module, we call those payloads, to actually function in space, you attach it to what's called the satellite bus,” Cinnamon said. “Think about what you'd imagine a satellite to look like, you'd probably think of this metal structure, the solar panels, maybe some sort of engine, all of that is actually the bus, not the rest of the satellite like the payload…At Apex, we manufacture the bus, which is the core component of that satellite that lets the payload actually survive and thrive in space.”

In the past, NASA was the biggest driving force behind space innovation, but in the last few years that has shifted to the private sector because of companies like SpaceX making its mark on the industry. The reason for this change is in part because NASA started to outsource some of their projects.

“More of these private companies have raised their hand and said, ‘Hey, NASA needs this done,’” he said. “NASA needs a new rover for the moon. NASA needs this instead of going to the traditional defense industrial base, or your typical primes.They now have more competition. These new companies are raising their hand saying ‘we'll go do that’ and this is really all pioneered by SpaceX coming online and saying, ‘Hey, instead of it being the same traditional players building the rockets, what if a commercial company came about and did that?’”

dot.LA Reporter Decerry Donato contributed to this post.

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Wonder Dynamics: Redefining the Animation Landscape
Wonder Animation

🔦 Spotlight

Happy Friday, LA!

Wonder Dynamics, a Los Angeles-based company founded by Tye Sheridan and Nikola Todorovic, has launched Wonder Animation, a beta feature that is poised to transform the landscape of video production. Acquired by Autodesk in May, Wonder Dynamics is leveraging this innovative tool, which harnesses artificial intelligence to turn standard video footage into captivating 3D animated scenes, making sophisticated animation techniques more accessible to filmmakers of all budgets.

Wonder Animation allows creators to shoot from multiple angles, with the AI reconstructing these shots into a dynamic 3D space. This functionality enables filmmakers to seamlessly blend live-action scenes with interactive virtual environments while preserving original camera movements. Users can customize various aspects, including animations, characters, lighting, and camera tracking data, and the tool integrates smoothly with popular software like Maya, Blender, and Unreal Engine.

What sets Wonder Animation apart is its emphasis on artistic control. Unlike many AI tools that impose rigid outcomes, this feature empowers creators to guide their projects, ensuring that their unique style remains front and center.

As the boundary between video and 3D animation blurs, Wonder Animation invites creators to experiment and innovate in exciting ways. This development marks a significant step forward in digital storytelling, democratizing access to high-quality visual effects and making sophisticated animation achievable for a broader range of filmmakers.

With the global animation market projected to reach approximately $400 billion in 2024 and grow to over $587 billion by 2030—reflecting a compound annual growth rate (CAGR) of about 5%—tools like Wonder Animation are more relevant than ever. This growth underscores the increasing demand for animated content and highlights the necessity of innovative solutions to meet filmmakers’ evolving needs. For those looking to elevate their storytelling, Wonder Animation may just be the key to unlocking new creative horizons. According to Statista, this upward trend in the animation market emphasizes the significant opportunities ahead.


🤝 Venture Deals

LA Companies

  • Evite, an online platform enabling users to design, send, and manage digital invitations and eCards with tools for event organization and guest tracking, has received a strategic growth investment from Francisco Partners to accelerate innovation and expand its product offerings. - learn more
LA Venture Funds
  • F4 Fund participated in a $4.1M Pre-Seed funding round for Further, a platform designed to help first-time homebuyers determine how much home they can afford by providing personalized insights on interest rates and lender requirements, giving users a clear view of their purchasing power. - learn more
  • Alexandria Venture Investments participated in a $10M Seed funding round for CrossBridge Bio, a company focused on developing advanced dual-payload antibody-drug conjugate (ADC) therapies, with the funds supporting preclinical development of its next-generation cancer treatments. - learn more
  • Clocktower Ventures participated in a $5.6M Series A funding round for Morada Uno, a startup in Mexico focused on making apartment rentals easier by providing a platform that connects tenants with landlords and simplifies processes like lease agreements and rent payments. - learn more
  • Skyview Capital participated in a $5M Series A funding round for Web3 chain game A-World, a tower defense battle game set in the metaverse on the BNB Chain, where players build hero towers to defeat waves of monsters. - learn more

      LA Exits

      • Drive Hospitality, a leading provider of personalized parking and hospitality services, including valet, concierge, bell services, parking management, and advanced technology integration, has been acquired by Propark Mobility. - learn more
      • Vebu Labs, located in El Segundo and specializing in custom automation solutions for the food industry—including the innovative 'Autocado' system that automates the peeling, coring, and scooping of avocados to enhance operational efficiency—will be acquired by Serve Robotics. - learn more

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            Big Wins: Dodgers Take the Title ⚾, ChatGPT Levels Up🚀

            🔦 Spotlight

            Happy Friday, LA! It’s been a week of big wins, on and off the field. 🎉

            ⚾️ First up, let’s talk Dodgers. With a thrilling 7-6 comeback victory over the Yankees in Game 5, the Dodgers clinched their eighth World Series title, their first since 2020. The city is buzzing, and fans are ready to celebrate! A parade kicks off this morning at 11 a.m., starting at City Hall and winding down to Flower Street, with a ticketed celebration at Dodger Stadium for those wanting to keep the festivities going.

            Image Source: Dodgers

            💻 Meanwhile, in the tech, OpenAI just rolled out a game-changing update for ChatGPT. Plus and Enterprise users can now access real-time internet search, powered by Microsoft Bing, bringing ChatGPT's responses fully up-to-date. This means users can now ask about the latest news, hotspots, or recent LA startup announcements, and ChatGPT will pull in fresh, relevant answers directly from the web. Previously limited to information up to 2021, ChatGPT’s new browsing capabilities make it a valuable digital assistant for anyone needing real-time insights in fast-paced industries like tech and entertainment.

            Image Source: ChatGPT

            🔍 The real-time search feature also includes “Browse with Bing,” allowing ChatGPT to source information from multiple sites for detailed answers to complex questions. Whether you’re exploring the latest venture capital trends in LA or curious about the best local spots, ChatGPT’s new browsing power helps you stay ahead with the latest info. This leap forward in AI functionality makes ChatGPT even more versatile and powerful for everyone, from business owners to everyday users.

            From the Dodgers’ World Series win to OpenAI’s latest ChatGPT update, there’s a lot to celebrate in LA this week. Here’s to champions, innovation, and a city that’s always pushing boundaries. 🌆✨


            🤝 Venture Deals

            LA Companies

            • Final Boss Sour, a Los Angeles-based gaming-themed snack company specializing in healthier sour snacks, has raised a $3M Seed funding round led by Science Inc. to expand its product offerings and operational capabilities. - learn more
            LA Venture Funds
            • Smash Capital led a $50M Series B round for Read AI, a productivity-focused AI company, bringing its total funding to $81M. The company offers a platform that enhances meeting efficiency through features like note-taking, summarization, and transcription. Additionally, Read AI introduced "Read AI for Gmail," a free Chrome extension that integrates information from various applications, reducing the need to switch between apps. The funds will be used to increase the company's headcount in engineering, data science, and business teams. - learn more
            • Distributed Global participated in a $25M funding round for Nillion, a company that provides decentralized privacy solutions designed to secure sensitive data using advanced technologies like secure multi-party computation. - learn more
            • Act One Ventures participated in a $5M Seed funding round for Latii, a construction materials supply chain startup, to enhance its platform that connects contractors with suppliers, aiming to streamline procurement processes and reduce costs in the construction industry. - learn more
            • SmartGateVC participated in a pre-seed funding round for Ritual Dental, a company revolutionizing dental care by integrating advanced technology and microbiome science to provide personalized, preventive treatments. - learn more

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                Billion-Dollar Milestones and Snapchat’s New Features

                🔦 Spotlight

                Happy Friday Los Angeles!

                This week’s spotlight showcases LA’s thriving tech scene, featuring Snapchat’s latest feature updates and two local startups Liquid Death and Altruist, making TechCrunch’s Unicorn List for 2024.

                Image Source: Snap

                Snapchat’s recent fall updates bring fresh features, including a new iPhone camera shortcut for instant snaps, Halloween-inspired AI-powered Lenses, and Bitmoji costumes inspired by Mean Girls and Yellowstone. Bitmoji stickers now reflect trending Gen-Z expressions like “slay” and heart symbols for added flair in chats. Plus, the “Footsteps” feature on Snap Map allows users to track their past adventures privately, adding a nostalgic touch.

                Image Source: Liquid Death

                ICYMI, two LA startups joined the Unicorn Club—achieving valuations over $1 billion. Liquid Death, based in Santa Monica, is a canned water company with edgy branding and a humorous sustainability focus. Known for viral marketing and brand partnerships, it redefines bottled water as a lifestyle brand and environmental statement. In March, Liquid Death closed $67 million in strategic financing, raising its total funding to over $267 million and valuing it at $1.4 billion.

                Image Source: Altruist

                Altruist, a Culver City-based fintech platform, offers financial advisors streamlined tools to better serve their clients. With a user-friendly investment and account management platform, Altruist has gained strong traction in the finance world. In May, it announced a $169 million Series E funding round, bringing its total funding to over $449 million and earning a valuation of $1.5 billion.

                Together, Liquid Death and Altruist exemplify LA’s capacity for innovation across diverse sectors, from lifestyle branding to fintech. Whether reshaping financial tools or redefining sustainable branding, these companies showcase LA’s unique entrepreneurial spirit. Go LA!

                Check out TechCrunch’s 2024 Unicorn List here. And don’t miss Snapchat’s latest features—perfect for adding some fun, connection and maybe a few selfies this weekend!


                🤝 Venture Deals

                LA Companies

                • Freeform, a company bringing AI to metal 3D printing, raised $14M in funding from NVIDIA’s NVentures and AE Ventures to further develop its AI-powered 3D printing technology for industrial-scale production. - learn more
                LA Venture Funds
                • Anthos Capital participated in a $70M Series D round for Carbon Robotics, which develops AI-powered robotics for precision agriculture, and the funding will be used to accelerate the growth of its autonomous weeding technology. - learn more
                • Anthos Capital participated in a $3.5M seed round for Plasma Network, aimed at expanding access to USDT stablecoins on the Bitcoin network, with the investment supporting the network’s growth and efforts to enhance stablecoin accessibility through the Lightning Network. - learn more

                LA Exits


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