T-Minus Space Daily: "New funding for reusable launch."

Date: October 9, 2025
Host: Maria Varmazis (N2K Networks)
Featured Guest: Mark Wheatley, Founder of Delano Wheatley Consulting

Episode Overview

This episode dives into several major funding announcements and developments in the global space sector—including a record-breaking Series D raise for Stoke Space, new contracts for companies like Muon Space and Momentus, and UK investments in Wales’ burgeoning space sector. A central focus is an interview with Mark Wheatley on leveraging UK financial services to support national defense and resilience within the UK’s growing space economy.

Headlines & Key Developments

• Stoke Space Series D Funding

  • Raised $510 million, more than doubling their total capital to $990 million (03:23).
  • Funding to support Nova vehicle production, Launch Complex 14 activation at Cape Canaveral for high-cadence launch ops, and supply chain investments.
  • Awarded a US Space Force National Security space launch contract earlier this year.

• Muon Space Contract

  • Awarded $44.6 million by US Space Force for a dual-use space-based environmental monitoring prototype (04:10).
  • Focus: Support DOD meteorology and oceanography, and global wildfire detection.
  • Key capability areas: cloud characterization, theater weather imagery—vital for mission planning in contested environments.

• Momentus NASA Demo Contracts

  • $5.1 million for the Cosmic (Microgravity in Space Crystallization Demonstration) program. Vigoride vehicle to serve as platform for crystal growth experiments (05:14).
  • $2.5 million additional contract for on-orbit demonstration of the RDRE (Rotating Detonation Rocket Engine), supporting in-orbit testing by Juno Propulsion.

• Blue Origin NS-36 Mission

  • Launched first Kazakh woman to space, marking the 15th human flight for New Shepard and their 80th passenger milestone (06:13).

• Welsh Space Sector Funding

  • UK Space Agency awarded Wales £247,000 to accelerate strategic growth and sustainability in the space sector (06:46).
  • Welsh space industry worth £345 million/year, employing over 1,700 (07:26).

Deep Dive: Building UK Space Resilience (Interview – Mark Wheatley)

[10:07] – [20:27]

Mark Wheatley’s Background & Vision

• Multiple Roles: Local City of London politician, founder of advisory/recruitment firm and Delano Wheatley Consulting.
• Space Engagement: Started via Satellite Applications Catapult in 2023, aiming to bridge UK’s new space economy with the financial services sector.

Key Quote:

"It was an exhilarating and exciting experience trying to connect the new space economy in the UK—particularly to that community I represent politically, the UK financial services and professional services community."
— Mark Wheatley (10:39)

The 'Resilience' Concept

• Definition: A community-driven approach to strengthen national security and resilience, mobilizing private sector finance and professional services to support defense imperatives.
• Motivation: Recognition of growing threats (cyber, space, drone incursions, and physical attacks) and limitations of public funding alone.

Key Quote:

“We are being tested, our economy is being hit, our capabilities are being depleted and the public sector can't step up and address all of that."
— Mark Wheatley (13:50)

• Objective: Leverage City of London’s capital, risk expertise, and professional networks to inject much-needed funding and innovation into defense, especially cutting-edge fields like space and cyber.

Main Thesis & Strategy

• Problem: UK government’s budget and borrowing constraints make meeting urgent defense needs difficult.
• Solution:
  • Build cross-sector communities (private, public, primes, innovators, financiers).
  • Create environments for knowledge sharing and collaboration (e.g., events, working groups).
  • Draft “provocations” (policy suggestions) to stimulate new commercial models for funding defense innovation.

Key Quote:

"What the City... does really well is it blends risk and opportunity and it enables people to drive capital to where it's needed. And in my humble opinion, it's really needed at the innovative end. The threats are in space and in cyber."
— Mark Wheatley (14:45)

• Method: Start with broad discussions, grow into structured outputs—initially a set of 100 “provocations” to suggest ways city resources can support public imperatives.

Key Quote:

“What we're trying to do is really two things. Create a community that cuts across private and public, ...and brings in financial services professionals, those who are already active and those who could be.”
— Mark Wheatley (15:39)

Risk, Reward, and Investor Education

• Challenge: Traditional VC expectations (e.g., seeking 'unicorn' 10x returns) may not align with defense/space sector realities.
• Opportunity: Educate potential investors on dual-use technologies and the benefits/flexibility of commercial models in defense.

Key Quote:

“If there are structures we can help stimulate that kind of blend, the risk recognizes a public imperative to some extent... government actors find [technology] more attractive if it has a commercial angle.”
— Mark Wheatley (18:13)

Next Steps

• Community Building Event: October 29 in London, with around 120 participants from defense, security, and financial services (19:03).
• Upcoming Content: Plan for 12 deep-dive essays authored by sector leaders (e.g., former Lord Mayor, Chief of Defence Staff), moving from discussion to actionable policy guidance.

Key Quote:

"We have in mind 12 essays… a deep read, authored by an expert... to move from kind of punchy qualification to policy guidance."
— Mark Wheatley (19:36)

Notable Quotes & Highlights

• "Public funding is not in the moment, and that means there's almost kind of a duty setting itself before the UK financial services and professional services community to step up and an opportunity."
  — Mark Wheatley (13:38)

• "Communities who could align and engage don't always know each other... There are breakages that I found quite shocking."
  — Mark Wheatley (15:47)

• "Some people with space technology have maybe not had the defense capabilities front and center... defense technology becomes more attractive to government actors if it has a commercial angle."
  — Mark Wheatley (18:29)

Timestamps for Important Segments

• [01:34] — Key headlines: Funding, contracts, notable launches
• [10:07] — Introduction to Mark Wheatley and his background
• [12:36] — Mark presents his thesis for public-private partnership in defense
• [15:29] — Community-building strategies and disconnects in the sector
• [17:55] — Risk/reward and investor mindset in defense tech
• [19:03] — Next steps: events and longform policy content

Takeaways

• Despite public funding constraints, private capital and cross-sector collaboration are crucial for advancing the UK’s defense and resilient space capabilities.
• There’s a significant gap to bridge between financial/professional services and new space/defense innovators—community events and living documents are key tools.
• The UK is looking to its world-class finance sector for investment and strategic leadership in not only economic but also national security priorities.

For more on these stories and additional readings, visit space.n2k.com.