Gilmour Space attracts $61m in extra funding

By on 1 July, 2021

Artist’s impression of Gilmour Space Technologies’ Eris launch vehicle. Courtesy Gilmour Space Technologies.

Gilmour Space Technologies has attracted an extra $61 million from global investors in what it says is the largest private equity investment raised by a space company in Australia.

The Series C funding round was led by US-based Fine Structure Ventures and includes Australian venture capital firms Blackbird and Main Sequence, and superannuation funds HESTA, Hostplus and NGS Super.

The round brings the company’s total funds raised to date to $87 million.

Gilmour launched its first hybrid rocket in 2016, and is aiming to become a world leader in orbital-class hybrid propulsion technologies that use safer and lower-cost fuels.

“This new investment will give us runway to launch our first orbital rocket in 2022,” said Gilmour Space CEO and co-founder, Adam Gilmour.

“It will help us develop multiple Eris vehicles, grow our team from 70 to 120 in the next 12 months, build our sovereign space manufacturing capability for rockets and satellites, and facilitate a commercial spaceport in Queensland, where we hope to launch the world’s first hybrid rocket to space.”

The company recently secured launch contracts with customers such as US-based Momentus, Sydney-based Space Machines Company and South Australia’s Fleet Space Technologies.

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