Gilmour Space thrusts $13.7m into orbit

Australia-based satellite-launching rocket producer Gilmour Space Technologies has obtained A$19m ($13.7m) in a series B round co-led by Main Sequence Ventures, the manager of research institute Commonwealth Scientific and Industrial Research Organisation’s (Csiro’s) Innovation Fund.
Venture firm Blackbird Ventures co-led the round, which featured 500 Startups as well as several undisclosed venture capital firms, family offices and private investors.
Founded in 2013, Gilmour Space Technologies is building hybrid-propulsion launching rockets that will dispatch small satellites into low-Earth orbits (Leos) on behalf of its clients.
Leos offer potential advantages over more distant orbits for telecoms and data gathering purposes, however launching costs can be prohibitive.
Gilmour Space will use the funding to construct its first commercial spacecraft, Eris-100, a 100-kg capacity vehicle due to enter service in 2020. It expects to launch a second spacecraft with 400 kg capacity the following year.
The company already has a partnership agreement with US government agency Nasa and will conduct a suborbital test flight of its system within the next few months.
Blackbird Ventures had previously led Gilmour Space’s $3.7m series A round in May 2017, which was backed by 500 Startups among others.
Adam Gilmour, founder and chief executive of Gilmour Space Technologies, said: “The small satellite revolution is gaining momentum globally, with thousands of small satellites slated to launch into Leos over the next five years.
“These new players will be challenged by high launch costs and limited launch opportunities. Gilmour Space is developing a new breed of hybrid rockets that will offer dedicated Leo launches to small satellite customers at very competitive prices.”
– Feature image courtesy of Gilmour Space Technologies