Brisbane-based Hypersonix Launch Systems secured $46 million in Series A funding in 2024 to develop hydrogen-powered hypersonic aircraft. That’s the kind of money that gets deployed, not burned.
The founders have serious credentials. Dr. Michael Smart worked at NASA in the 1990s before leading hypersonic propulsion research at University of Queensland. He and David Waterhouse founded the company in 2019. They’re commercialising 35+ years of scramjet research and over 6,000 shock tunnel experiments.
The core technology is SPARTAN—a 3D-printed scramjet engine operating at Mach 5-12 with zero CO2 emissions. In 2024, the Pentagon selected Hypersonix for its HyCAT program from over 60 applicants. Their DART test vehicle launches from NASA Wallops in 2025.
The funding syndicate tells you this is more than a tech bet. Australia’s National Reconstruction Fund made its first defence investment. UK-based High Tor Capital led the round. Strategic investor Saab joined, along with QIC and Polish family office RKKVC.
This case study is part of our comprehensive guide to deep tech and defense innovation, where we explore how emerging technologies, strategic investment, and security considerations are reshaping the defense landscape. This is how deep tech startups bridge academic research to production, secure defence contracts, and structure multi-national funding rounds. Let’s get into it.
What is Hypersonix Launch Systems and what technology do they develop?
Hypersonix is commercialising scramjet research from University of Queensland. They’re the first company globally attempting commercial hydrogen-powered hypersonic aircraft.
The SPARTAN scramjet engine is fully 3D-printed. It’s air-breathing with no moving parts and can reach speeds of Mach 12. The company has 45 people in Brisbane developing dual-use technology for defence and commercial applications.
They’re building three products in sequence:
DART AE is a single-use demonstrator. Three-and-a-half metres long, flying Mach 5-7. This is the proof-of-concept.
VISR is the reusable ISR platform. Eight metres, Mach 5-10. This is where the business model lives—reusable intelligence, surveillance, and reconnaissance missions.
DELTA VELOS is the space launch vehicle. Sixteen metres, Mach 5-12. Think satellite launches and low Earth orbit supply runs.
Founded in 2019, first flight test in 2025. That’s a six-year development cycle to get a hypersonic vehicle airborne. Deep tech aerospace is not a sprint.
Dr. Smart’s background opened doors. They built HYPERTWIN X—a virtual design and testing environment leveraging all that experimental data—to reduce physical testing costs. When you’re pre-revenue and burning through a Series A, that matters.
The IP licensing from University of Queensland gave them a technical foundation. The challenge was translating lab prototypes to flight-ready hardware—manufacturing engineering and supply chain development you don’t get in a university lab.
How does a scramjet engine work and why is it better than traditional jet engines?
A scramjet compresses incoming air through forward motion alone at hypersonic speeds. Combustion happens while air remains supersonic. No moving parts. Unlike turbojets with compressor blades, scramjets use geometry and speed for compression. For a deeper dive into the fundamentals of hydrogen-powered scramjet technology, including the physics behind Mach 12 flight capabilities, we’ve covered the technical details in a separate analysis.
They only work above Mach 5. This is why DART launches on a Rocket Lab HASTE booster to reach operational speed before the SPARTAN engine ignites.
The advantage? Air-breathing propulsion. Scramjets use atmospheric oxygen rather than carrying oxidiser like rockets. This dramatically reduces weight and cost for atmospheric flight.
The physics at hypersonic speeds is brutal. Temperatures exceed 3,000 degrees Fahrenheit and aerodynamic forces are extreme. You’re lighting fuel while air flows through the engine at Mach 5+ in milliseconds.
For reusable systems, scramjets make economic sense. They’re more fuel-efficient than rockets for atmospheric missions. This is why Hypersonix is building VISR as a reusable platform rather than disposable rockets.
What makes Hypersonix’s SPARTAN engine unique in the hypersonic propulsion field?
SPARTAN burns hydrogen, not kerosene. It’s the only commercial scramjet using green hydrogen. Zero CO2 emissions, only water vapour.
Hydrogen offers higher specific impulse than kerosene. That means better performance at hypersonic speeds. The trade-off is cryogenic storage at -423°F. But for reusable hypersonic systems, the performance advantage outweighs the handling complexity.
The entire engine is additively manufactured. 3D printing enables complex internal geometries impossible with traditional machining. This includes cooling channels that manage extreme temperatures.
The design is modular. VISR uses four SPARTAN engines. This scalability means they can test propulsion at smaller scale before scaling up.
HYPERTWIN X gives them a development advantage. It’s a virtual environment built on decades of experimental data. This reduces physical testing costs and accelerates iteration. When you’re pre-revenue and burning through a Series A, that matters.
Defence organisations are increasingly interested in green capabilities. Zero emissions gives you a talking point that kerosene scramjets don’t have. It might sound like marketing, but governments care about this stuff.
How did Hypersonix transition from academic research to commercial product development?
Dr. Smart’s path was NASA researcher in the 1990s, then University of Queensland Chair of Hypersonic Propulsion, then startup CTO in 2019. Hypersonix represents the culmination of decades of research into scramjet propulsion.
The IP came from University of Queensland. Thirty-five years of scramjet research. Six thousand shock tunnel experiments. Australia has been a global leader in hypersonic technology since 1989.
The challenges? Translating lab prototypes to flight-ready systems. Moving from Technology Readiness Level 3-4 to TRL 6-7 requires manufacturing engineering you don’t develop in a university lab. You need production processes, supply chains, quality control.
Hypersonic engineers are scarce globally. You’re competing with Lockheed, Boeing, and every other defence prime for talent. And you’re doing it from Brisbane.
HYPERTWIN X keeps development costs manageable. Virtual testing means fewer expensive flight tests. This is how you manage cash when you’re pre-revenue.
The lesson for deep tech founders? Technical credibility matters. Smart had NASA and University of Queensland on his resume. That opens doors. It gets you meetings with defence procurement officers and venture capitalists who understand the space.
What is the HyCAT program and how did Hypersonix secure selection from 60+ applicants?
HyCAT stands for Hypersonic and High-Cadence Airborne Testing Capabilities. It’s a US Department of Defense program managed by Defense Innovation Unit. The goal is dramatically increasing test frequency while lowering costs.
Right now, hypersonic tests cost about $100 million per flight and happen once or twice per year. The Pentagon wants to conduct up to 50 flight tests annually. That’s a 25-50x increase in test cadence.
Hypersonix was the first company selected from more than 60 applicants. Here’s why they won:
Only hydrogen scramjet applicant—differentiation matters in defence procurement. Everyone else is using kerosene.
Technical heritage from University of Queensland and NASA—credibility with evaluators who know the field.
Australian AUKUS partner status—geopolitical alignment matters when you’re dealing with the Pentagon.
3D printing reduces costs—lower cost per test than traditional approaches.
Realistic development timeline—they didn’t overpromise. Six years to first flight is honest. Defence has been burned too many times by optimistic schedules.
Defense Innovation Unit focuses on accelerating commercial technology adoption. DIU program manager Maj. Ryan Weed described the effort as a “paradigm shift, viewing the hypersonic realm as a place for aircraft, not just missiles and weapons”.
The contract includes DART AE test flight at NASA Wallops using Rocket Lab’s HASTE booster in 2025. That’s the proof point.
Winning HyCAT gave them Department of Defense validation. That matters for follow-on production contracts. DoD doesn’t hand out contracts to 45-person startups unless the technical evaluation is solid.
How did Hypersonix structure its $46 million Series A funding round across multiple countries?
High Tor Capital led the round. The syndicate included Australia’s National Reconstruction Fund ($10 million), Queensland Investment Corporation, strategic investor Saab, and Polish family office RKKVC.
The NRFC investment marked their first defence sector allocation. NRFC is Australia’s sovereign investor with $15 billion to deploy. Getting their first defence investment sends a signal.
The multi-national syndicate spanned UK, Australia, Sweden, and Poland. That’s validation across allied nations and market access through investor networks.
Strategic investor Saab brings defence industry expertise, customer relationships, and partnership opportunities. In defence tech, choosing investors who understand procurement timelines and customer dynamics matters more than pure capital.
North Ridge Partners acted as financial advisor with aerospace and defence expertise. Complex cross-border defence transactions need advisors who understand export controls, ITAR compliance, and international defence partnerships.
David Gall, NRFC CEO, noted they “see huge potential in backing Australian companies and innovations that build our sovereign capability”.
Series A timing was deliberate. Post-HyCAT selection but pre-flight test. That’s validation without full technical de-risking. The funding supports DART flight testing, VISR development, and manufacturing scale-up.
Defence tech funding differs from SaaS. Timelines are longer—expect 18+ months versus 6 months for a typical software raise. Strategic investors matter more than your cap table looking good on Twitter. Sovereign funds get involved. Export controls complicate term sheets. Valuation is based on IP strength, team pedigree, and strategic importance, not ARR multiples. For a comprehensive overview of defense tech investment trends and how government-venture capital partnerships are reshaping the funding landscape, we’ve analysed the broader patterns driving this $46 million round.
What are the major technical challenges Hypersonix faces in achieving sustained hypersonic flight?
Supersonic combustion is the first problem. Achieving stable combustion while air flows through the engine at Mach 5+ in milliseconds. It’s been described as lighting a match in a hurricane. That’s not marketing hyperbole.
Thermal management comes next. At Mach 10, temperatures exceed 1,800 degrees Celsius. The airframe needs advanced materials like ceramic matrix composites. Standard aerospace alloys melt.
Hydrogen fuel handling adds operational complexity. Cryogenic storage at -423°F requires specialised infrastructure. You can’t just fill up at any airfield.
Reusability engineering separates DART from VISR. DART is single-use. VISR must survive multiple flights with thermal protection systems, structural fatigue management, and maintenance protocols. This is the difference between a technology demonstrator and a business.
Manufacturing complexity doesn’t end after the first unit. 3D printing high-temperature alloys at scale. Quality control for safety-critical components. Supply chain for exotic materials. Aerospace manufacturing is hard; hypersonic aerospace manufacturing is harder.
SPARTAN’s 3D-printed cooling channels address thermal management. HYPERTWIN X simulation reduces physical testing needs. The modular design enables incremental development.
But these vehicles travel at speeds exceeding Mach 5, creating physics challenges that computer models alone cannot fully replicate. You need real-world flight data. There’s no getting around it.
What is Hypersonix’s product roadmap and path to commercial production?
DART AE launches in 2025. It’s a 3.5-metre single-use vehicle flying Mach 5-7. It’s the world’s first 3D-printed hypersonic airframe. This is the technology demonstrator.
VISR comes next, targeting 2027-2028. Eight metres long, reusable, Mach 5-10, powered by four SPARTAN engines. Designed for ISR missions and rapid payload delivery. This is the revenue vehicle—where the business model kicks in.
DELTA VELOS is the long-term play. Sixteen metres, Mach 5-12, for satellite launches and low Earth orbit supply missions. This is years away but it’s where the big contracts live.
The revenue strategy starts with defence contracts for ISR missions. Then commercial satellite launch services. Then hypersonic testing platform services for aerospace customers who can’t afford $100 million per test.
The milestone-based approach manages risk. DART success unlocks follow-on HyCAT contracts. VISR demonstration enables production orders. Each step de-risks the next.
NRFC funding pays for product development and establishment of advanced manufacturing capabilities in Queensland. That’s jobs and sovereign capability, which governments care about.
Six years from founding to first flight test. You need patient capital and technical credibility. There are no shortcuts in aerospace. Anyone promising faster timelines is lying to you or themselves.
How does AUKUS alliance membership benefit Hypersonix’s US market access?
AUKUS is the Australia-UK-US security partnership. Hypersonic capabilities are prioritised under AUKUS Pillar II. Australia’s National Defence Strategy 2024 identified hypersonic capabilities as a key defence priority with $3 billion budget over the next decade.
AUKUS streamlines export controls. ITAR compliance is easier for allied companies. Technology transfer moves faster. This matters when you’re trying to work with NASA and the Pentagon from Brisbane.
The US hypersonic investment is measured in billions annually. HyCAT is an entry point. AUKUS status positions Hypersonix for larger follow-on production contracts that non-allied companies simply can’t access.
The market access pathway: HyCAT demonstration proves technology, then production ISR contracts, then integration with US platforms, then broader allied nation sales. Each step builds on the previous one.
NRFC CEO David Gall sees potential in “tapping into the global market for hypersonic and counter-hypersonic technologies among our allies”.
Being an AUKUS ally matters when you’re a 45-person startup trying to sell into the Pentagon. It’s the difference between getting meetings and getting ghosted. Without it, you’re competing on a level playing field with Chinese companies, and good luck with that.
FAQ Section
What is the difference between hypersonic and supersonic flight?
Supersonic means faster than sound—Mach 1+, or 767+ mph. Hypersonic is Mach 5+, around 3,800+ mph. But the distinction isn’t just speed.
The physics changes. Hypersonic speeds create extreme heating from atmospheric compression. The air behaves differently. You need air-breathing scramjet engines instead of traditional turbojets because turbojets can’t handle the airflow speeds.
It’s not just “faster supersonic.” It’s a different engineering problem entirely.
Why is hydrogen fuel important for Hypersonix’s scramjet engines?
Hydrogen offers higher specific impulse than kerosene—better performance at hypersonic speeds. Zero CO2 emissions, only water vapour. The trade-off is cryogenic storage at -423°F.
For reusable systems optimising for performance and sustainability, hydrogen wins. Hypersonix is the only commercial scramjet developer betting on hydrogen. Everyone else is using kerosene.
Is it harder to handle? Yes. Does it perform better and align with government sustainability priorities? Also yes. That’s the bet they’re making.
How long does it take for a hypersonic vehicle to fly from Sydney to London?
At Mach 7, the Sydney-to-London distance would take roughly 2 hours versus 22+ hours for current commercial flights.
But DART and VISR are military ISR platforms, not passenger aircraft. Hypersonic passenger flight remains a future possibility, not a near-term commercial product. Don’t expect to book a ticket anytime soon.
What is the Technology Readiness Level of Hypersonix’s scramjet?
SPARTAN is at TRL 5-6 currently. The DART flight test in 2025 advances it to TRL 6-7. Full TRL 9 requires successful VISR flights and sustained operational use.
The 6,000+ shock tunnel experiments at University of Queensland accelerated early development. That’s years of testing data they didn’t have to generate from scratch. It’s also why they could credibly promise a 2025 flight test to the Pentagon.
Can scramjet engines operate at low speeds or do they need rockets to start?
Scramjets only function above Mach 5. DART launches on a Rocket Lab HASTE booster to reach operational speed, then SPARTAN ignites.
VISR plans runway takeoff using conventional jet engines to accelerate, then scramjet activation at hypersonic speeds. This combined cycle approach is standard. You need something to get you to Mach 5 before the scramjet can take over.
Think of it like a two-stage system. You don’t try to use the scramjet until conditions are right.
How does 3D printing reduce costs for hypersonic aircraft development?
Additive manufacturing eliminates expensive tooling and moulds. It enables rapid iteration—days versus months for design changes.
You can create complex internal geometries impossible to machine, like SPARTAN’s cooling channels. Traditional machining can’t create the internal cooling passages they need for thermal management.
For low-volume, high-complexity aerospace applications, 3D printing offers substantial cost reduction. You’re not building 10,000 units. You’re building tens. The economics are completely different.
What payload capacity will VISR have for ISR or delivery missions?
VISR is 8 metres long with four SPARTAN engines. Specific payload capacity hasn’t been disclosed publicly.
Industry-standard hypersonic ISR platforms carry 200-500 kg. But the value proposition isn’t payload mass—it’s speed and survivability. Mach 5-10 enables rapid global response within 1-2 hours. That’s the capability governments are paying for.
How many employees does Hypersonix have and what skills are they hiring?
Hypersonix has approximately 45 employees in Brisbane. The team includes aerospace engineers, materials scientists, manufacturing engineers for 3D printing, and business development staff.
Key challenge: hypersonic expertise is scarce globally. You’re competing with Lockheed, Boeing, Northrop Grumman, and every other defence prime for the same small pool of talent.
Being in Brisbane rather than Los Angeles or Washington DC makes hiring interesting. You’re selling lifestyle and opportunity over brand name.
What are the environmental advantages of hydrogen scramjets vs kerosene?
SPARTAN engines produce zero CO2 emissions. Only water vapour when using green hydrogen from renewable energy electrolysis. Kerosene scramjets emit CO2.
Reusable systems like VISR reduce per-mission environmental impact. But life-cycle analysis must include hydrogen production source. Green hydrogen from renewables is essential for true zero-carbon operation.
If you’re producing the hydrogen from natural gas, you’re just moving the emissions somewhere else. That’s why “green hydrogen” matters—it’s hydrogen produced using renewable electricity.
When will the DART test flight occur and where can I follow updates?
DART AE is scheduled for launch from NASA Wallops Flight Facility in Virginia in 2025 using a Rocket Lab HASTE booster. Specific date depends on final integration milestones.
Official updates come through Hypersonix Launch Systems’ website, LinkedIn, and Twitter. NASA and Defense Innovation Unit may provide additional coverage. Defence programs sometimes go quiet for security reasons, so don’t expect real-time updates like a SpaceX launch.
How does Hypersonix plan to compete with larger defence contractors?
The strategy focuses on commercial innovation advantages. 3D printing enables faster iteration and lower costs. Hydrogen propulsion differentiates from kerosene competitors. Small team moves faster than large bureaucracies.
AUKUS partnership provides market access. Rather than competing for large prime contracts initially, Hypersonix targets niche programs like HyCAT where innovation matters more than scale. Then expand once technology is proven.
Strategic investor Saab may facilitate partnerships with larger primes. This is common in defence—small companies develop breakthrough technology, then partner with big players for production and integration.
What other companies are developing commercial hypersonic aircraft?
Competitors include Hermeus in the US pursuing kerosene scramjet targeting Mach 5 passenger aircraft. Venus Aerospace in the US developing rotating detonation engine with Mach 9 concepts. Destinus in Switzerland working on hydrogen-powered hypersonic freight.
Traditional defence primes like Lockheed Martin, Boeing, Northrop Grumman, and Raytheon are developing military hypersonic weapons but focused on missiles, not reusable aircraft.
Hypersonix differentiates through hydrogen fuel, reusable ISR platform focus, and AUKUS allied nation status. The hydrogen bet is unique. Everyone else is going kerosene.
Hypersonix demonstrates how deep tech startups navigate the complexity of defence innovation—from translating academic research into production-ready systems to structuring multi-national funding rounds and securing Pentagon contracts. The DART flight in 2025 will validate whether this approach delivers on the promise. For comprehensive strategic lessons on defense innovation, including investment patterns, security considerations, and technology trends across the sector, see our complete guide to deep tech and defense innovation.
