Gilmour Space Technologies banked $217 million (US$145m) in a Series E to become a unicorn, with take the Queensland rocket builder’s valuation topping $1 billion.
The round was jointly led by the National Reconstruction Fund (NRF) and existing backer, super fund Hostplus, with support from previous investors Future Fund, Blackbird, Funds SA, HESTA, NGS Super, Main Sequence, QIC, and Brighter Super.
The new capital comes after 2025’s first launch attempt in July, which saw Gilmour’s 23-metre-high, 30-tonne Eris orbital rocket take off, rising 100-metres in the air before crashing after 14 seconds of flight.
The new cash is for continued development of the Eris orbital launch vehicle, to scale rocket and satellite manufacturing, expand test and launch infrastructure, and grow the company’s workforce, which now tops 220 people.
The spacetech scaleup has raised $142 million in venture funding, including $19 million Series B in 2018 and $61 million in a Series C in June 2021 and earlier this year, a $55 million Series D, as well as attracting tens of millions in funding from local, state and federal governments.
Founded on the Gold Coast, in 2013 by brothers Adam and James Gilmour, Gilmour Space is building an end-to-end sovereign space capability spanning the design, manufacture, test, and launch of rockets and satellites in Australia.
Alongside the Eris rocket, the company also build the Bowen Orbital Spaceport, the country’s first licensed commercial orbital launch facility, in North Queensland, and the 100-kilogram ElaraSat satellite platform,
Adam Gilmour, the CEO said access to space underpins modern economies, enabling critical services such as communications, navigation, climate and environmental monitoring, disaster response, and national security.
“This investment reflects strong investor confidence in our team and in Australia’s ability to build and operate critical space infrastructure at home,” he said.
“We’ve reached important technical and business milestones. Our focus now is on delivering reliable and regular access to space for customers both at home and abroad.”
NRF CEO David Gal said: “Space technologies are fundamental to national resilience, economic productivity, and regional growth. Gilmour’s success will help secure Australia’s access to essential space services, strengthen our advanced manufacturing base, and create highly skilled jobs and opportunities in the region.”
Gilmour Space’s Eris Rocket on test flight 1 in July 2025. Image: Gilmour Space
