Stoke Space, a pioneering aerospace company working to develop the world’s first fully reusable medium-lift rocket, has announced a significant milestone: $260 million in Series C funding. This latest investment more than doubles the company’s total funding, bringing it to an impressive $480 million.
Nova, a medium-class launch vehicle by Stoke Space with full reusability. Credit: Stoke Space
The funding round saw participation from both new and existing backers, including Breakthrough Energy Ventures, Glade Brook Capital Partners, Industrious Ventures, Leitmotif, Point72 Ventures, Seven Seven Six, the University of Michigan, Woven Capital, and Y Combinator, among others.
“This new investment validates our progress and enables us to accelerate the development of technologies that will redefine access to and from space,” said Andy Lapsa, CEO and co-founder of Stoke Space. “We deeply appreciate the confidence investors have placed in Stoke and our mission.”
The Series C round highlights growing industry confidence in Stoke’s vision of ultra-low-cost, on-demand space transportation. The company’s innovative approach focuses on fully reusable rocket technologies that promise to revolutionize space access.
Recent milestones include the successful vertical test firing of the Zenith engine, Stoke’s first-stage full-flow staged combustion engine, conducted at its advanced test facility in Moses Lake, Washington. Zenith is one of only two engines of its kind globally, boasting the highest efficiency possible for rocket propulsion. Stoke has also developed the world’s first actively cooled metallic reentry heat shield, an integral component of its reusable upper-stage engine.
“Rapid and reliable reuse of a rocket’s upper stage is the last big challenge to solve before mobility to and from space becomes akin to other forms of transportation,” Lapsa explained. “This represents a pivotal moment in the space economy and opens the door to extraordinary business opportunities both on and beyond Earth.”
Plans for Expansion and Development
Stoke Space intends to use the new funding to complete construction at the historic Launch Complex 14 at Cape Canaveral Space Force Station in Florida. The iconic site, allocated by the U.S. Space Force for exclusive use by Stoke’s Nova launch vehicle, was the location of John Glenn’s 1962 Friendship 7 mission, making it a fitting base for the next chapter in space exploration.
The funds will also advance the development of the Nova rocket, enhance Stoke’s private test facilities, and expand its manufacturing headquarters.
Transforming Space Access
Stoke Space is positioning itself as a leader in the next generation of spaceflight, solving the challenge of fully reusable rocket stages to make space transportation more accessible, affordable, and sustainable. With its innovative technologies and ambitious roadmap, the company is set to redefine the possibilities of space travel and exploration.
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