Gilmour Space Ignites Space Race Bid

Gilmour Space Technologies has successfully raised $217 million, a pivotal moment for Australia's ambitions in the global space race. This substantial funding round positions the company as Australia's newest unicorn, valued at over $1 billion. The investment reflects a strategic move to reduce Australia's dependence on international launch services for satellite deployment.

The funding was co-led by the National Reconstruction Fund Corporation and superannuation giant Hostplus, each contributing $75 million. This infusion of capital is crucial for Gilmour Space to compete with international rivals who have historically had greater access to financial resources. Chief executive Adam Gilmour highlighted this as a significant step for Australian space ventures.

This development is critical as Canberra identifies sovereign launch capability as a strategic priority. With launch queues from existing providers stretching beyond two years and increasing geopolitical uncertainties, establishing an independent Australian space launch capacity is seen as essential for national security and commercial interests.