Gilmour Space Technologies has cemented its position as a leader in Australia's space sector, securing a landmark USD$145 million in a Series E funding round. This investment, co-led by the National Reconstruction Fund and Hostplus, elevates the company's valuation beyond USD$668 million, making it the nation's first space unicorn. The capital signals strong confidence in the Queensland-based firm's mission to build sovereign launch capabilities for domestic and international clients.
Strategic Investment for Sovereign Capability
The funding round saw robust participation from new and existing backers, underscoring widespread support for the company's vision. Alongside lead investors, prominent funds such as the Future Fund, Blackbird, and Main Sequence contributed to the raise. This financial milestone builds upon previous successful rounds, demonstrating sustained investor belief in Gilmour's long-term growth trajectory and its strategic importance to the nation.
The newly acquired capital is earmarked for key areas of expansion to meet growing global demand for launch services. A primary focus will be scaling the manufacturing of rockets and satellites and advancing its Eris orbital launch vehicle. The funds will also support expanding test infrastructure and growing the company's workforce, which now exceeds 220 highly skilled employees.
Fueling Growth After Test Flight Milestone
This financial boost follows a significant technical milestone: Australia’s first sovereign orbital launch attempt from home soil. The company's 23-metre Eris rocket lifted off from its Bowen Orbital Spaceport before crashing after 14 seconds. Despite the outcome, the company viewed the rocket successfully clearing the launch tower as a critical achievement and a valuable step forward in its development program.
The test flight, while not fully successful, provided crucial data and demonstrated tangible progress in the company's ambitious development timeline. This operational milestone was a key factor in reinforcing investor confidence, proving the team's ability to execute complex engineering feats. It highlighted the inherent challenges of space exploration while also validating the foundational technology Gilmour Space is building for reliable space access.
A Vision for Australia's Space Economy
Company CEO Adam Gilmour stated the investment reflects strong confidence in Australia's ability to build and operate critical space infrastructure domestically. He emphasized that access to space is fundamental to modern economies, enabling essential services from communications to national security. Gilmour's focus is now on delivering reliable and regular launch services to a global customer base from Australian soil.
Echoing this sentiment, National Reconstruction Fund CEO David Gall highlighted the strategic importance of the investment for the nation. He noted that space technologies are fundamental to national resilience, economic productivity, and regional growth. Supporting Gilmour Space helps secure Australia's access to essential space services while strengthening its advanced manufacturing base and creating high-skilled jobs.
The funding's significance extends to the broader Australian deep-tech ecosystem, with backers noting its validation of the nation's industrial capabilities. Partners from venture firms like Blackbird and Main Sequence described the round as proof that Australia can build sovereign capability in challenging industries. This success is expected to encourage further institutional investment into the country's burgeoning technology sector.
With its new unicorn status and $145 million in fresh capital, Gilmour Space Technologies is poised to accelerate its mission. The company is now better equipped to refine its Eris launch vehicle, scale its operations, and solidify its role as a cornerstone of Australia's sovereign space industry. This funding marks a pivotal moment for Gilmour and for the nation's ambitions in the final frontier.