TLDR:
- Gilmour Space, a Gold Coast rocket company, is now valued at $605 million after a successful funding round.
- The company aims to launch an Australian-made rocket into orbit, with its first attempt scheduled for early April.
The Gold Coast’s Gilmour Space has reached a valuation of $605 million after raising $55 million in funding to support its upcoming launch attempts. The company, founded by brothers Adam and James Gilmour, aims to provide space transport for small satellites, positioning itself as a key player in the growing private space market.
Adam Gilmour, the CEO, mentioned that the company’s commercial focus lies in transporting satellites into space to replace existing ones. The upcoming launch from the Bowen Orbital Spaceport in North Queensland will mark Australia’s first attempt at an orbital vehicle test, showcasing the culmination of eight years of design and testing by Gilmour Space.
Despite initial challenges in securing funding, including skepticism from US-based investors, the company managed to raise capital with the support of existing investors and personal investments from Adam Gilmour and his wife. The $605 million valuation reflects a significant increase from previous rounds and sets the stage for future fundraising efforts after the initial launch attempts.
Gilmour Space has also obtained non-dilutive funding through government grants and customer contracts, positioning itself as a promising contender in the global launch market. The upcoming rocket launch, while not expected to reach orbit, will provide valuable data for future launches and technology validation, paving the way for Gilmour Space’s continued growth and success in the industry.
