Gilmour Space raises $146 million

WASHINGTON — Australian launch vehicle and satellite manufacturer Gilmour Space Technologies has raised its largest funding round to date to scale up rocket and spacecraft production.

The company announced Jan. 20 that it raised 217 million Australian dollars ($146 million) in a Series E funding round. The round was co-led by the Australian federal government’s National Reconstruction Fund Corp. and Hostplus, a retirement savings fund. Several other investors participated.

Gilmour Space said the financing makes it Australia’s first space technology “unicorn,” a term used for private companies valued at more than $1 billion. The company last raised funding in February 2024 with a 55 million Australian dollar Series D round.

“This investment reflects strong investor confidence in our team and in Australia’s ability to build and operate critical space infrastructure at home,” Chief Executive Adam Gilmour said in a statement. “Our focus now is on delivering reliable and regular access to space for customers both at home and abroad.”

The Queensland-based company said it will use the funding to continue development and testing of Eris, its small launch vehicle. Eris made its inaugural launch in July but suffered an engine failure and crashed about 14 seconds after liftoff.

The company has not disclosed the cause of the failure, but Gilmour said at the International Astronautical Congress in Sydney in October that it involved “something we’ve never tested close enough to the launch conditions before.”

He said at the time that the company expected its next Eris launch attempt in 2026, without providing a more specific timeline. The funding announcement did not include new details about the vehicle’s return to flight.

Gilmour Space also plans to use the funds to scale up launch vehicle and satellite production. The company launched its first satellite, ElaraSat, on a SpaceX rideshare mission in June 2025.

The company has emphasized the importance of a domestic launch capability in Australia. That helped prompt the National Reconstruction Fund Corp., established in 2023 to invest 15 billion Australian dollars in key industries, to provide 75 million Australian dollars to Gilmour Space.

“Australia’s size and geographic location in the Southern Hemisphere provide natural advantages for accessing space, and Gilmour’s success will enable Australia to capitalize on the growing global demand for space launch services and satellites,” David Gall, chief executive of the fund, said in a statement.

“Gilmour’s efforts will secure Australia’s access to essential space services, strengthen the country’s advanced manufacturing base, and create highly skilled jobs and opportunities in the region,” he said.

Gilmour Space has more than 220 employees and said it will use the funding to expand its workforce.