Gilmour Space Technologies, an Australian startup, announced on Feb. 19 that it secured $55 million Australian dollars ($36 million) in a Series D round. The funding will support the company’s efforts to build, test and launch rockets and satellites from the Bowen Orbital Spaceport in North Queensland.
The company, founded in 2012, is working on a three-stage rocket called Eris. The first test flight of Eris is expected to happen soon, subject to launch approvals from the Australian Space Agency, the company said in a press release.
The company plans to conduct a second test flight later this year and start commercial launches in 2025.The investment round was led by Queensland Investment Corporation, and joined by Blackbird, Main Sequence, HostPlus and Australian pension fund HESTA.
Adam Gilmour, co-founder and CEO of Gilmour Space, said in a statement that he was grateful for the support of high-quality investors.
Patrick Christiansen, private equity investment director for Queensland Investment Corp., said in a statement that Gilmour Space had a strong value proposition as a full-stack launch services provider for an underserved segment of the global space market. He also said that Gilmour Space’s ability to offer customers a complete solution with both launch services and a satellite bus was a key competitive advantage.
Gilmour Space, based near Brisbane, Australia, raised about $46 million in a Series C round in 2021.
Rick Baker, co-founding partner of Blackbird, said in a statement that the Series D funding would enable Gilmour Space to attempt multiple launches and to become the first Australian-built rocket to reach orbit. He said that the team’s achievements in developing the technology through years of testing and iteration were coming to fruition now.
