Major equity deal backs Gilmour Space expansion of sovereign launch capability

by Simon Mansfield
Sydney, Australia (SPX) Jan 21, 2026
Gilmour Space Technologies has raised 217 million Australian dollars in private equity funding to accelerate the next phase of its sovereign space operations in Australia.

The Series E round was jointly led by the National Reconstruction Fund Corporation (NRFC) and superannuation fund Hostplus, with participation from Future Fund, Blackbird, Funds SA, HESTA, NGS Super, Main Sequence, QIC, and Brighter Super.

Founded on the Gold Coast in Queensland, Gilmour Space is building an end to end domestic space capability covering the design, manufacture, testing, and launch of rockets and satellites within Australia.

The company is developing and operating its Eris orbital launch vehicle and associated infrastructure from the Bowen Orbital Spaceport in North Queensland, providing a local route to orbit for commercial and government customers.

Co founder and CEO Adam Gilmour said the new capital signals strong backing for both the company and Australia's ambition to operate critical space infrastructure at home.

"This investment reflects strong investor confidence in our team and in Australia's ability to build and operate critical space infrastructure at home. We've reached important technical and business milestones. Our focus now is on delivering reliable and regular access to space for customers both at home and abroad."

Key milestones highlighted by the company include Australia's first sovereign orbital launch attempt from domestic territory, the successful on orbit operation of its 100 kilogram ElaraSat satellite platform, and the establishment of the nation's first licensed commercial orbital launch site in North Queensland.

Funds from the raise will support continued development and qualification of the Eris orbital launch vehicle, expansion of rocket and satellite manufacturing capacity, and further build out of test and launch facilities.

The capital will also be used to grow the Gilmour Space workforce so the company can respond to increasing international demand for launch and in space services.

The company emphasises that access to space underpins modern economic activity, enabling services such as communications, navigation, climate and environmental monitoring, disaster response, and national security.

David Gall, CEO of NRFC, said space technologies are central to national resilience and long term industrial capability.

"Space technologies are fundamental to national resilience, economic productivity, and regional growth. Gilmour's success will help secure Australia's access to essential space services, strengthen our advanced manufacturing base, and create highly skilled jobs and opportunities in the region."

Hostplus Chief Investment Officer Sam Sicilia said the fund views the investment as a way to generate long term value for members while supporting advanced technology development in Australia.

"As one of the nation's leading investors in domestic venture capital, we are committed to identifying opportunities that deliver long-term value for our members. This capital injection will help position Gilmour Space for its next phase of growth, enabling it to scale operations and advance technology development, creating potential for strong, risk-adjusted returns for our members."

Gilmour Space currently employs more than 220 staff and works with local universities, research organisations, and hundreds of Australian suppliers to advance domestic manufacturing capability and create high skill jobs.

Through these partnerships and its growing industrial base, the company aims to play a central role in building long term sovereign space capability for Australia's economy, government users, and international customers.