Gold Coast space rocket technology company Gilmour Space has soared to a $605 million valuation, after raising $55 million in a funding round aimed at fuelling its first four attempts to launch an Australian-made rocket into orbit.

The latest funding round values the business at $605 million and was led by existing investors QIC. Local venture capital firms Blackbird and Main Sequence and Australian superannuation funds HostPlus and HESTA also doubled down on their earlier investments in the company.