NRF, Hostplus back Gilmour Space in $217m Series E round
The raise for the space tech startup exceeded its initial $150 million target, drawing follow-on investment from a slew of superannuation funds.
The first test flight of Gilmour Space Technology’s Eris orbital rocket lasted just 14 seconds, but the historic achievement has been enough to drive an outsized $217 million Series E funding round led by the National Reconstruction Fund and Hostplus.
The raise is nearly 45% above the initial $150 million target and gives co-founder and CEO Adam Gilmour the confidence to pursue three additional orbital rocket test flights before the first half of 2027, with the next flight as soon as Q3 2026.
The latest raise is also more than four times larger than the company’s $55 million Series D, completed in early 2024. Speaking to Capital Brief, Gilmour said the initial $150 million target was in part “expectations management”, which was more than met by investor demand.
“As the conversations with investors continued, everyone got quite comfortable that with the amount we've raised, it gives us a big runway to get to orbit, because there's uncertainty when you get to orbit, whether it's the second flight, third flight, fourth flight,” Gilmour said.
