Hypersonix secures Series A funding ahead of first test flight

Brisbane-based aerospace startup Hypersonix Launch Systems has secured its first institutional investors in a tightly held Series A funding round. Co-founded by scramjet expert and former NASA scientist Dr Michael Smart, Hypersonix is preparing to fly the world’s first 3D-printed, hydrogen-powered, hypersonic scramjet engine in partnership with the US Department of Defense and NASA later this year, the company said in a statement.

North Ridge Partners in Singapore and Australia acted as exclusive financial advisor to Hypersonix on the transaction, with the advisory team led by Managing Partner Christin Burns, working closely alongside Hypersonix Chief Technology Officer (CTO) Dr Michael Smart and CEO Matt Hill. The transaction brings three strong investors onto the company’s share register: UK-based High Tor Capital, Saab Ventures from Sweden and  Cypriot company RKKVC.

Dr Smart said he was delighted to welcome the new shareholders: “We will use these funds to support Hypersonix’s expanding global commercial footprint, including significant US contracts with the Department of Defense and NASDAQ-listed Kratos, and the establishment of advanced manufacturing capabilities in Queensland,” he said.

High Tor Capital backs foundational technologies with dual-use applications that strengthen national security. Saab is a leading global defence and security company, providing advanced systems in aeronautics, weapons, command and control, sensors and underwater systems, and RKKVC is a Polish family office with deep exposure to space-qualified AI and secure communications technologies.

Dr Smart was previously the chair of Hypersonic Propulsion at the University of Queensland, a world-leader in hypersonic research, and spent a decade as a research scientist at NASA. He co-founded Hypersonix in 2019 to bring into production the technology he spent decades developing in the lab: the SPARTAN scramjet, which uses green hydrogen fuel, contains no moving parts, and is fully 3D-printed.

Later this year, the US Government will put SPARTAN to the test aboard Hypersonix’s test platform aircraft, DART AE, as part of the Pentagon’s HyCAT (Hypersonic and High-Cadence Airborne Testing) program, delivered through the US Defense Innovation Unit (DIU), and launched to Mach 7 on Rocket Labs HASTE booster. The flight will take place from NASA’s Wallops Flight Facility in Virginia.

The DIU is the only US defence organisation dedicated exclusively to accelerating the adoption of commercial technology across the US military at commercial speed, says Hypersonix., which was the first company named under the HyCAT program, selected from a competitive field of more than 60 applicants.

DIU Program Manager Major Ryan Weed described HyCAT as a “paradigm shift in viewing the hypersonic realm as a place for aircraft, not just missiles and weapons.”

Hypersonix CEO Matt Hill said the raise represents a major step forward for the company’s growth and commercial ambitions. “This transaction marks an important milestone as Hypersonix transitions from being funded primarily by government grants to securing highly experienced, defence-focused institutional investors who can assist with scaling the company.”

“Australia is leading the world in scramjets and hypersonic technology,” said Co-founder and Deputy Chair David Waterhouse. “Hypersonix is looking to capitalise on our leading position, with the support of our investors.”

Hypersonix is targeting additional strategic capital as part of an upcoming second close, with funds to support the company’s expanding global commercial footprint, including the US trials and the build-out of manufacturing capabilities in Queensland.