Stoke Space raises $1 billion in Series E funding to accelerate larger rocket development
The Washington-based launch company, which has yet to attempt an orbital launch, brings total capital raised to $2.3 billion and plans to scale up its Nova rocket design.
What happened
Stoke Space announced a $1 billion Series E funding round co-led by Point72 Ventures and Spark Capital on Tuesday, bringing its total capital raised to $2.3 billion. The company plans to use the funding to accelerate development of a larger "Block 2" version of its Nova rocket, capable of lifting 15 metric tons to low Earth orbit in fully reusable configuration. The initial Nova Pathfinder vehicle will have a 3 metric ton lift capacity in reusable mode or 7 tons in expendable configuration, powered by seven Zenith engines producing 700,000 pounds of combined thrust. The company has completed structural tests on the first stage and plans to ship it to Cape Canaveral soon for additional testing and static fire before mating with the upper stage. The upper stage will undergo its own structural and hot fire tests at Moses Lake, Washington before being shipped to Florida.
Context
Stoke Space is preparing for its debut orbital launch in 2025 after spending $2.3 billion without yet attempting to reach orbit. The scale of capital raised relative to launch readiness reflects investor confidence in the company's reusable rocket approach. The decision to pursue a larger medium-lift variant concurrently with the smaller Pathfinder suggests a deliberate strategy to establish operational capability with Nova before scaling to 15-metric-ton capacity, positioning the company to serve multiple market segments if development succeeds.