Herbert Smith Freehills advises Gilmour Space Technologies on A$19 million capital raise led by Main Sequence Ventures and Blackbird Ventures

Herbert Smith Freehills has advised Gilmour Space Technologies on its A$19 million Series B capital raise, led by Main Sequence Ventures and Blackbird Ventures.

Gilmour Space Technologies is developing rocket technology for low-cost access to space and launching small satellites to Low Earth Orbit. In May 2018, the company completed a ground test of its orbital engine, which is capable of delivering 80kN of thrust.

As a result of the A$19 million investment led by Main Sequence Ventures and Blackbird Ventures, Gilmour Space Technologies will have raised approximately A$24 million from global investors since its inception.

The Herbert Smith Freehills team was led by partner Peter Dunne with support from solicitor William He.

Peter Dunne said: “Main Sequence Ventures’ and Blackbird Ventures’ investment reflects the strong ‘deep-tech’ capabilities of Australian start-ups. We are delighted to partner with one of Australia’s pre-eminent spacetech companies as Gilmour Space Technologies continues to develop its leading rocket launch capabilities.”

Gilmour Space Technologies CEO Adam Gilmour said: “HSF has been very easy to work with, had a good understanding of our issues and dealt seamlessly with the investor legal teams.”

Main Sequence Ventures was advised by K&L Gates.

This deal is another example of Herbert Smith Freehills’ market-leading work in the Australian technology sector. Other recent examples include:

• Nura on its Series A capital raise;
• Ansarada on its Series A capital raise;
• SafetyCulture on its Series A capital raise; and
• Culture Amp on its Series D capital raise.