Gilmour Space raises $36 million ahead of maiden orbital launch

Gilmour Space has announced raising 55 million Australian dollars ($36 million) ahead of the maiden orbital flight this year.

The latest funding comes as part of the Series D round and it was led by Queensland Investment Corporation (QIC). Other funders include Blackbird, Main Sequence, and Australian superannuation funds HostPlus and HESTA.

The Australian Space Agency says that the new funding will help to expand manufacturing, testing, and launching of the domestic rockets and satellite missions to orbit.

Gilmour Space’s Stage 1 with four Sirius hybrid rocket engines (Credit – Gilmour Space Technologies)

The company is developing a space services platform including rocket and satellite production and launch services at its Bowen Orbital Spaceport in North Queensland.

Adam Gilmour, Co-founder and CEO of Gilmour Space said that the funding will help the company to achieve its milestones in the medium term and capitalize on current market opportunities.

Gilmour has already created more than 100 jobs across Queensland and could increase the headcount to over 300 by 2027.

Eris will be the first domestic orbital launch vehicle with a 1.5-meter diameter payload fairing it can carry up to 305 kg to low Earth orbit.

The rocket has three stages, the first stage equips Sirus hybrid rocket engines and the third stage features a single liquid rocket engine.

(source – Gilmour Space)