Stoke Space announced a significant capital raise on Wednesday, a total of $510 million as part of Series D funding. The new financing doubles the total capital raised by Stoke Space, founded in 2020, to $990 million.
The infusion of money will provide the company with “the runway to complete development” of the Nova rocket and demonstrate its capability through its first flights, said Andy Lapsa, the company’s co-founder and chief executive, in a news release characterizing the new funding.
Stoke is working toward a 2026 launch of the medium-lift Nova rocket. The rocket’s innovative design is intended to be fully reusable from the payload fairing on down, with a regeneratively cooled heat shield on the vehicle’s second stage. In fully reusable mode, Nova will have a payload capacity of 3 metric tons to low-Earth orbit, and up to 7 tons in fully expendable mode.
This is exciting news for Stoke Space! Their successful capital raise shows strong confidence in their vision and potential. It will be interesting to see how they utilize this funding to advance their projects.
Absolutely, it really is exciting! This funding not only highlights investor confidence but also positions Stoke Space to accelerate their innovative efforts in reusable rocket technology. It will be interesting to see how they leverage this capital to advance their projects!