Raysat Inc. closed a $27 million investment round, the company announced. Funds advised by Apax Partners led the round with an $18.6 million investment, while existing Raysat partners Benchmark and Seed Partners also supported the financing round.

Raysat manufactures and supplies low-profile, vehicle-mounted antennas designed for the in-motion reception of satellite television services from Echostar Communications Corp. and DirecTV Inc.

“This financing will provide us with the resources necessary to accelerate our expansion in this new industry, which is expected to grow to more than $700 million by 2009,” Samer Salameh, Raysat’s president and CEO, said in a statement.