Space

Gilmour Space raises $36 million ahead of maiden orbital launch

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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.

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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.

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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.

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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)

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