Gilmour Announces a New Capital Hunt End of this Year8th Sep 2020
As the Gilmour Space Technologies company plans to commence operations in 2022, they plan to seek out more funding for their space projects. The company’s co-founder and chief, Adam Gilmour, said that this plan is to be put into play by December 2020.
How much money has the company raised so far?
The hybrid rocket launcher has so far hit the 19 million dollar mark in the Series B venture set in 2018 as part of the Blackbird and the Main Sequence Ventures. Series A had 5 million dollars back in 2017.
Gilmour Space Technologies plans to get into the business of launching hybrid rockets at low cost. But a few drawbacks have transpired. One notable setback was a failed launch of the One Vision hybrid rocket.
The setback is just a learning platform that the 40 Gilmour Space Technologies engineers use to gain more knowledge.
Why did the company get into the space business?
Adam, a former investment banker, saw an opportunity and took it, following the likes of Elon Musk and Jeff Bezos, the major players in the business. Elon’s SpaceX Starlink has a broadband project with great plans to launch high-speed broadband worldwide. Bezos, on the other hand, is investing $10 billion for the Kuiper Satellite broadband service by Amazon.
Gilmour Space Technologies comes in to provide a cheaper option to carry these payloads into space.