Gilmour Space raises $55M to launch AU’s first orbital rocket

Queensland-based Gilmour Space Technologies has brought $55 million up in a Series D funding round in front of a lady orbital launch not long from now.

The funding round, driven by Queensland Investment Corporation, Blackbird, Main Sequence, and Australian superannuation funds HostPlus and HESTA, will uphold the manufacturing, testing, and launching of sovereign-made rockets and satellites to orbit.

The Eris Orbital Launch Vehicle is a three-stage rocket equipped for launching small satellites into low earth orbits.

The vehicle is supposed to launch in the coming months, with pending approvals from the Australian Space Agency.

Gilmour is developing a broadened space service platform, including rocket and satellite production and launch administrations from their select Bowen Orbital Spaceport in North Queensland.

Adam Gilmour, co-founder and CEO of Gilmour Space Technologies, expressed support from investors will ensure that Gilmour meets its achievements over the medium term and leverages more opportunities in Australia and abroad.

“Our team is fortunate to be backed by high-calibre investors whose unwavering support has led to the development of Australia’s first orbital rocket, built by an Australian-owned company, and supported by a local space supply chain.

This investment will allow us to enhance Australia’s sovereign space and defence capabilities, onshore more manufacturing, and to hire and upskill even more Queenslanders.

Our vision is for rockets made and launched in Queensland, carrying satellites and other payloads to space for our global customers, and we’re incredibly grateful for the support of QIC in helping us realise that vision,” Gilmour said.

Patrick Christiansen, confidential value speculation chief at QIC, said Gilmour’s capacity to contend as a full-stack launch service provider will be a strong value of strength for the proposition for an underserviced section of the global space market.