Gold Coast-based Gilmour Space Technologies is raising a $55 million Series D round ahead of a maiden orbital launch later this year.
Led by Queensland Investment Corporation (QIC) alongside Blackbird, Main Sequence and Australian superannuation funds HostPlus and HESTA, the capital will fund the manufacture, test and launch of sovereign-made rockets and satellites to orbit.
"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," said Adam Gilmour, Co-founder and CEO.
"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 are building a diversified space services platform, including rocket and satellite production, and launch services from their exclusive Bowen Orbital Spaceport in North Queensland.
Since QIC's original Business Investment Fund investment in 2021, Gilmour stated that it has created more than 100 jobs across Queensland and plans to increase its total headcount to over 300 by mid-2027.
"Growing sovereign capabilities in Australian aerospace is often talked about, but it's Adam and his team knuckling down and making it happen," said Patrick Christiansen, QIC Private Equity Investment Director.
"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 Eris Orbital Launch Vehicle is a three-stage rocket capable of launching small satellites into low earth orbits. It is anticipated to launch in the coming months pending launch approvals from the Australian Space Agency.