Stoke Space Raises $1 Billion in Funding, Plans Larger Rocket
Space launch company Stoke Space announced Tuesday it has raised $1 billion in new funding. The company is preparing for its debut launch next year and revealed plans for a larger medium-lift vehicle.
Space launch company Stoke Space announced Tuesday that it has secured $1 billion in a new funding round as it prepares for its debut launch next year. The company also revealed plans for a larger medium-lift vehicle.
With this Series E funding round, co-led by Point72 Ventures and Spark Capital, Stoke Space has now raised a total of $2.3 billion. This amount is significant for a company that has yet to conduct an orbital launch.
The new capital infusion will accelerate development of a larger "Block 2" version of its Nova rocket. According to Stoke Space co-founder and CEO Andy Lapsa, this version is designed to carry 15 metric tons to low-Earth orbit in a fully reusable configuration.
The company is now focused on finalizing its launch preparations and advancing its rocket technology. The plans for an upgraded rocket indicate Stoke Space's intentions within the competitive space launch market.