Stoke Space Raises $1 Billion Series E Financing as it Prepares for First Fully Reusable Launch
The funding brings Stoke’s total capital raised to $2.3 billion.
(Kent, Washington) Stoke Space announced today (Sept. 8) that it has completed an initial closing of its billion-dollar Series E funding round, led by Point72 Ventures and Spark Capital — bringing its total capital raised to $2.3 billion.
Image courtesy of Stoke Space.
General Innovation, Glade Brook Capital, US Innovation Technology, Washington Harbour Partners, Woven Capital, Y Combinator and other new and existing investors also participated in the financing round.
The Series E funding is intended to support Stoke Space as it prepares for its first orbital launch – of its Nova Pathfinder rocket, targeted in 2027 – expands production and launch capacity, and accelerates development of its larger Nova Block 2 launch vehicle.
“Every mature transportation system is built around fully reusable vehicles. It’s the only way to reach the cost floor while scaling availability,” said Andy Lapsa, co-founder and CEO of Stoke. “Space transportation will be no different. We are humbled by the trust our investors and customers have placed in us in pursuit of this critical generational challenge. This investment enables us to scale toward delivering the capability and cadence our customers require.”
Per today’s press release from Stoke, its Pathfinder rocket will carry payloads to orbit while proving Nova’s core architecture, full reuse technologies, and operational capabilities.
Chris Morales, Partner at Point72 Ventures, said: “Stoke is pursuing what we see as one of the most important opportunities in space transportation: making launch fully reusable, reliable, and scalable. Having supported Stoke through multiple stages of its growth, we believe this company has demonstrated both the exceptional technical progress and the ambition to build a launch system capable of serving the market at industrial scale.”
“Full reusability is the inevitable end state of the market, providing an order-of-magnitude cost and service advantage over partially reusable rockets,” said Clay Fisher, General Partner at Spark Capital. “Stoke had the right thesis seven years ago and has paired that prescient vision with a blistering pace of execution. As a result, they stand uniquely positioned to give customers more choice and capacity when they need it, and to unlock an enormous new economy in space.
