Stoke Space closes initial US$1 billion funding round
The funding will support production, launch frequency and development of Stoke’s larger Nova Block 2 rocket.
Stoke Space has completed the initial closing of a US$1 billion Series E funding round as it prepares to scale production, increase launch frequency and develop its larger Nova Block 2 rocket.
The round was led by Point72 Ventures and Spark Capital, with participation from General Innovation, Glade Brook Capital, US Innovation Technology, Washington Harbour Partners, Woven Capital and Y Combinator, among others. Stoke says it has raised US$2.3 billion in total.
The company expects its Nova Pathfinder vehicle to make its first flight in early 2027. Pathfinder is designed to carry three metric tonnes to low-Earth orbit, and Stoke says it has already sold launch contracts for the vehicle. Ground testing is progressing, with combined rocket-and-launch-pad tests next.
Stoke is also developing Nova Block 2, which is designed to carry 15 metric tonnes to low-Earth orbit. The company is targeting deployment in 2029. Both vehicles remain planned or in development, and neither is reported to have reached orbit.
Stoke is pursuing a fully reusable rocket, including a recoverable second stage. Its proposed heat shield uses super-cooled liquid hydrogen for active cooling, a technical approach that chief executive Andy Lapsa says has been tested on the ground. The funding terms, valuation and final size of the Series E round were not disclosed.
