Main Sequence Ventures has returned for a $47m round, having previously co-led a $13.7m series B for the satellite launch technology producer.

Gilmour Space Technologies, an Australia-based satellite launch services provider, obtained A$61m ($47m) in a series C round backed by Main Sequence Ventures, the deeptech firm set up by CSIRO, yesterday.

Superannuation funds Hesta, Hostplus and NGS Super also took part in the round, which was led by Fine Structure Ventures, a fund affiliated with financial services group Fidelity, and additionally featured Blackbird Ventures.

The round is the largest raised by a private space company in Australia to date, according to Gilmour Space.

Founded in 2013, Gilmour Space Technologies produces hybrid-propulsion launching rockets to dispatch small satellites into low-Earth orbits (Leos).

The cash will allow the company to work towards its first orbital rocket launch next year. Gilmour Space will also expand its headcount from 70 to 120 over the next 12 months, extend its manufacturing capability for rockets and satellites and support a commercial spaceport in Queensland.

Martin Duursma, a partner at Main Sequence, said: “The Australian space industry is attracting significant investment, and Gilmour Space is leading the way. They are hiring, training, and building a new supply chain that is driving capabilities at scale across the whole space sector.”

Gilmour Space collected $13.7m in a series B round co-led by Main Sequence Ventures and Blackbird Ventures in 2018, when undisclosed venture capital firms, family offices and private investors also participated.

Blackbird Ventures had led a $3.7m series A round in 2017, which was backed by 500 Startups and unnamed others.

– Feature image courtesy of Gilmour Space Technologies