LegalVision advises Gilmour Space on $61 million Series C
Announcement posted by LegalVision 02 Aug 2021
LegalVision has advised Australia's leading launch services company Gilmour Space on its successful $61 million Series C round, in what has become the largest private equity investment raised by an Australian space company.
The successful round, which brings the company’s total funds raised to $87 million, includes US-based Fine Structure Ventures, Australian venture capital firms Blackbird and Main Sequence, Queensland Investment Corporation and Australian superannuation funds HESTA, Hostplus, and NGS Super.
Gilmour Space is a Queensland-based startup that will launch small satellites into space. The company is pioneering new and innovative hybrid propulsion technologies that provide lower cost access to space, and is on track for its first commercial launch in 2022.
Gilmour Space will use the Series C funds as working capital, to increase its team from 70 to 120 in the next 12 months, and to build a sovereign space manufacturing facility and commercial spaceport in Queensland.
Georgina Toomey: “It’s a real pleasure to work with Gilmour Space, and to see them achieve such deserved success. It’s exciting to help an innovative company to achieve its goals.”
Gilmour Space CEO and Co-Founder, Adam Gilmour: “It’s fantastic to see the global support for our mission to build and launch lower cost rockets and satellites to orbit. This new investment will give us runway to launch our first orbital rocket in 2022. LegalVision lawyers Georgina and Sophie were instrumental in making this Series C round a success.”
Blackbird Ventures partner, Rick Baker: “Congratulations to Gilmour Space for this week raising a $61M Series C round! It’s the largest private equity investment raised by a space company in Australia. It’s been amazing to see what Gilmour Space has achieved so far in proving that they can build a reliable hybrid rocket engine capable of powering the next generation of launch vehicles.”