Gilmour Space Technologies lands $55 million for orbital launch in a boost to Australian space race

In a significant stride for Australia’s burgeoning space industry, Gilmour Space Technologies has secured $55 million in Series D funding, setting the stage for its inaugural orbital launch later this year.

This follows a $61 million Series C back in 2021.

This fresh cash injection was led by the Queensland Investment Corporation (QIC), with participation from Blackbird, Main Sequence, and superannuation funds HostPlus and HESTA.

According to the company, the new capital has been earmarked for the development, testing, and launching of domestically-produced rockets and satellites into orbit.

Gilmour Space, under the leadership of co-founder and CEO Adam Gilmour, aims to establish a comprehensive space services platform that encompasses the production of rockets and satellites, alongside launch services from its exclusive Bowen Orbital Spaceport in North Queensland.

“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,” Gilmour said.

According to Gilmour, the company’s ambition to enhance Australia’s sovereign space and defense capabilities is matched by its commitment to increase local manufacturing and provide employment and training for Queensland residents.

“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,” Gilmour said.

Since QIC’s initial investment in 2021, Gilmour Space Technologies has generated over 100 jobs across Queensland, with plans to expand its workforce to more than 300 by mid-2027.

Patrick Christiansen, QIC private equity investment director, lauded Gilmour’s progression towards becoming a full-stack launch services provider and its potential to fill a gap in the global space market.

“Growing sovereign capabilities in Australian aerospace is often talked about, but it’s Adam and his team knuckling down and making it happen,” Christiansen said.

“Never has an Australian-made, Australian-owned rocket launched into orbit, and we join the nation in eager anticipation as all eyes turn to Bowen for history to be written.”

The narrative of Gilmour Space Technologies is not just about Queensland pride but also the tangible progress in the Australian aerospace sector.

“When we first invested in Gilmour, the team had just produced a ten-centimeter diameter hybrid rocket engine,” Blackbird co-founding partner Rick Baker said.

“It was a cute little thing that produced a fierce little flame, but the ambition of Adam and the team to build a full-scale rocket was clear. The achievements of the team in taking that technology through years of testing and iteration are coming to a head now.

The Eris Orbital Launch Vehicle, a three-stage rocket designed for launching small satellites into low earth orbits, is poised for launch in the upcoming months, pending necessary approvals from the Australian Space Agency.