Ready for liftoff
- 500-backed Gilmour Space is getting a ~US$723,000 lift. The rocket startup landed a government grant under the country’s Moon to Mars initiative. It is aimed at helping Australian space businesses improve their technical capabilities and help them enter new national and international markets.
- Gilmour Space will be using the grant to improve its manufacturing capability to produce vessels that can hold fluids under pressure, for use in the aerospace industry.
- Acting Minister for Industry, Science and Technology said the grants will also boost the economy and create new high-skilled jobs.
- “With this support, these Australian companies will be able to expand their capability and tap into new supply chains around the world – which adds up to opportunities here at home,” Head of the Australian Space Agency Enrico Palermo said.
- Read the full press release here.
Soaring high
- Last week, 500-backed second-hand marketplace Carousell turned unicorn after raising fresh funds of US$100 million. This week, the media is all abuzz with co-founder and CEO Quek Siu Rui sharing with CNBC that the startup is exploring all options to grow the business, which includes a likely initial public offering (IPO).
- “With this round of funding, we are actually in a very well-capitalized position for what we need to do, and that really is because of the great support that we have got from our investors,” he said.
- “Ultimately we want to make sure that we have a good investor base that will support our long-term growth story, who appreciates our business model and where we’re headed,” he added.
- He also said that consumer trust and safety is the crux of any marketplace. He shared that the company reduced fraud on its platform by 67% in 2020. Today, only two to three out of 10,000 transactions are fraudulent on the platform.
- Watch the full interview on CNBC here.
Rise to the call
- 500-backed cybersecurity startup Horangi has pledged ~US$6,000 in donations to the United Nations World Food Programme (UNWFP) to lend support to Afghans who are facing a severe humanitarian crisis.
- How can you help? For every signup for a Warden trial, Horangi will donate an additional ~US$7 on top of its original donation.
- According to Horangi, Warden is an all-in-one security solution that can be set up within minutes. The platform can detect and fix security threats in real-time.
- Read more about the donation pledge here.
