Founded in 2012 by the Gilmour brothers, Adam and James, Gilmour Space aims to position itself as an industry leader with the development of the Eris launch vehicle, a three-stage rocket engineered to transport small to medium payloads into orbit. This initiative underscores the company’s commitment to democratizing space access through innovative technology and strategic investments.
The 82-foot (25-meter) tall Eris rocket, distinguished by its hybrid propulsion system, merges the safety and cost-effectiveness of solid fuel with the precision control of liquid fuel systems, promising to significantly reduce costs while enhancing mission flexibility and safety according to the company.
In a landmark move for the startup, Gilmour Space Technologies announced February 19 a successful Series D funding round, raising $55 million AUS ($36 million USD). This significant financial boost propels the company’s strategic initiative to design, test, and launch rockets and satellites from the Bowen Orbital Spaceport in North Queensland.
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The Series D investment, led by Queensland Investment Corporation along with contributions from Blackbird, Main Sequence, HostPlus, and the Australian pension fund HESTA, signifies to many industry insiders a strong vote of confidence in Gilmour Space’s mission and technological prowess.
Adam Gilmour, co-founder and CEO, expressed gratitude for the support, which accelerates the company’s path toward a series of test flights and commercial launches slated to begin in 2025. According to InnovationAus.com, the company hopes to see the first test launch of Eris as soon as March or April. When operational, the rocket is expected to be able to send up to 305 kilograms of payload into low Earth orbit.
Patrick Christiansen, private equity investment director for Queensland Investment Corp., lauded Gilmour Space’s full-stack launch services and turnkey solutions, emphasizing the company’s competitive edge in a segment of the global space market that is currently underserviced.
Gilmour Space’s journey can be characterized by the company’s relentless innovation and strategic growth, including a previous Series C round in 2021 that raised about $61 million AUS ($47 million USD). These investments underpin the company’s ambition to achieve multiple launches and to become the first Australian-built rocket to reach orbit.
The company’s highly anticipated upcoming Eris test flights aim to ready Gilmour it seeks a share in the growing demand for satellite deployments across telecommunications, Earth observation, and scientific research sectors.
Integral to Gilmour Space’s strategy are its partnerships and collaborations with industry leaders and government bodies, including the Australian Space Agency. These alliances are critical for securing regulatory approvals, for Gilmour Space fostering research and development, and accessing potential contracts. With a global market in their sights, Gilmour Space sees themselves as not merely an Australian success story but a burgeoning international force in space services.
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