LegalVision has advised Gilmour Space on its series C round worth $61 million.
Firm: LegalVision (Gilmour Space).
Deal: Gilmour Space has been advised on its successful series C round.
Value: $61 million.
Key players: The LegalVision team was led by practice leader Georgina Toomey and senior lawyer Sophie Mao.
Deal significance: Gilmour Space is a Queensland-based start-up that will launch small satellites into space. Its first commercial launch is on track for delivery in 2022.
According to a statement from LegalVision, 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. The firm noted that the transaction is one of the largest private equity investments raised by an Australian space company.
“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,” the firm’s statement read.
Commenting further, Ms Toomey said: “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.”