The US Department of War’s Office of Strategic Capital has announced a $150m conditional loan commitment to LeoLabs, Inc., with the company describing the facility as up to a $150m conditional loan commitment.
The commitment has not closed and requires LeoLabs to complete financial, legal, technical, investment, due diligence and other requirements before financial close.
OSC said the loan is matched dollar for dollar with co-investment, resulting in a $300m capital infusion. The co-investors were not named.
LeoLabs is based in Menlo Park, California, and provides space domain awareness and space traffic management data from a ground-based radar network. Founded in 2016 as a spinout from SRI International, the company operates fixed-site Seeker and Ranger radars, as well as transportable Scout-S systems for space domain awareness and Scout-X systems for missile warning and tracking.
Proceeds are expected to support production and deployment of multi-mission phased array radars, expansion of US radar manufacturing capacity and sensing infrastructure, and growth of LeoLabs’ global footprint, including mobile Scout radar units, according to OSC. LeoLabs said the financing would help complete two large-scale US manufacturing facilities by 2028, add dozens of systems to its global network by 2030, expand delivery of sovereign radars to US and allied government customers, and strengthen its domestic supply chain.
“This financing, coupled with private investment, enables us to answer that call by delivering our proven sensing capabilities faster and at greater scale to help strengthen U.S. national security,” said Tony Frazier, CEO of LeoLabs.
LeoLabs previously raised a $65m Series B in June 2021 co-led by Insight Partners and Velvet Sea Ventures, when the company said it had raised more than $100m in total. In February 2024, it added a $29m extension led by GP Bullhound with participation from 1941 and Dolby Family Ventures, plus existing investors Insight Partners, Velvet Sea Ventures, Space Capital and MDSV Capital. SpaceNews reported that total funding exceeded $120m after that round.
OSC was set up in December 2022 within the Defense Department to draw private capital into critical technologies and offers direct loans of up to $150m. It announced its first direct loan in August 2025, and in October 2026 gave PsiQuantum a conditional commitment for up to $150m.