Two Aussie startups that raised $62 million this week

February 23, 2024

Adam Gilmour, founder and chief of Gilmour Space Technologies. Source: Supplied.

Australian startups building space tech and an AI-powered recruitment platform made headlines this week, thanks to a combined $62 million in new funding.

Here’s two Aussie startups with fresh capital to spend.

Gilmour Space Technologies: $55 million

Source: Supplied.

Leading this week’s startup funding round-up is Gilmour Space Technologies, which has secured $55 million in Series D funding, as it moves closer to its inaugural orbital launch later this year.

The funding round was led by the Queensland Investment Corporation (QIC), with participation from Blackbird, Main Sequence, and superannuation funds HostPlus and HESTA.

It follows a $61 million Series C round, which was completed in June 2021.

The new capital will be used by the Queensland startup to develop, test, and eventually launch domestically produced rockets and satellites into orbit.

“Our team is fortunate to be backed by high-calibre investors whose unwavering support has led to the development of Australia’s first orbital rocket, built by an Australian-owned company, and supported by a local space supply chain,” said co-founder and CEO Adam Gilmour earlier this week.

“This investment will allow us to enhance Australia’s sovereign space and defence capabilities, onshore more manufacturing, and to hire and upskill even more Queenslanders,” Gilmour added.

Hatch: $7 million

L-R: Hatch co-founders Adam Jacobs and Chaz Heitner. Source: Supplied.

Sydney-based startup Hatch plans to expand its AI-powered jobs marketplace, first nationally and then globally, after closing an oversubscribed $7 million seed funding round.

Hatch was founded by The Iconic co-founder Adam Jacobs and Zip co-founder Chaz Heitner in 2017 and launched three years later. The jobs platform is aimed at gen Y and gen Z jobseekers and offers a recruitment platform that is closer to social media platforms than traditional CV-based jobs boards.

The startup is also planning to grow its own team after closing the round, which was led by early-stage investor Rampersand

Several other major Australian venture funds participated in the round, including Alberts Impact Ventures, Aura Ventures, Jelix Ventures, and Investible, as well as existing private investors, including forme

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Eloise Keating

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Eloise Keating is the news editor of SmartCompany and Inc Australia. Prior to joining SmartCompany, Eloise was news editor at Books+Publishing, the trade press for the Australian book industry. Eloise has degrees in media and communications, marketing and business management, and political science. You can follow her on Twitter at @ellykeating.