Key Takeaways
- K&L Gates acted for Blackbird Ventures in Gilmour Space Technologies’ Series E capital raise.
- Funds will support the development of Gilmour’s Eris orbital launch vehicle and expand manufacturing and infrastructure.
- This capital raise emphasizes Australia’s growing role in the global space economy, driven by investor interest and government support.
Significant Investment in Australia’s Space Sector
Global law firm K&L Gates has facilitated a landmark Series E capital raise for Gilmour Space Technologies, acting on behalf of co-lead investor Blackbird Ventures. Based in Queensland, Gilmour is focused on developing a comprehensive sovereign space capability that encompasses the design, manufacturing, testing, and launching of low-cost rockets and related technologies in Australia. The company also operates a spaceport and conducts hypersonic testing.
The capital raised will be directed towards the continued development and qualification of Gilmour’s Eris orbital launch vehicle, which made its first launch attempt of an Australian-made rocket into orbit from domestic soil in July 2025. Additionally, funds will be utilized to enhance rocket and satellite manufacturing, expand testing and launch infrastructure, and increase the workforce to cater to a surging global demand for space launch services.
Blackbird Ventures is a prominent venture capital firm investing in early-stage and high-growth technology companies across Australia and New Zealand. They manage minority investments across hundreds of high-tech start-ups, focusing on sectors like software, autonomous vehicles, robotics, hardware, and the commercial space industry.
The legal team at K&L Gates for this transaction was spearheaded by Sydney Corporate partner Simon Leslie, with contributions from partners Paul Lalich and Tom Young, special counsels Julie Brown and Justin Chenevier, and senior associate Emanuel Penklis.
Leslie expressed enthusiasm about the deal, highlighting that the capital raise marks a significant growth phase for Australia’s commercial space industry. Increased investor interest in launch technologies and sustained government support are pivotal for building sovereign capabilities. This funding further underscores the vital role Australian companies are playing in the expanding global space economy.
Gilmour’s Series E funding round was co-led by Blackbird Ventures and the National Reconstruction Fund Corporation, backed by prior investors including Main Sequence and QIC Ventures, along with several new investors including Australian superannuation funds.
K&L Gates boasts one of the most extensive Corporate practices in the legal sector, with a global team of hundreds providing practical solutions for structuring, financing, and executing domestic, international, and cross-border transactions.
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