Stoke Space Secures $100M to Develop Reusable Rockets

Stoke Space Secures $100M to Develop Reusable Rockets

Stoke Space secured $100 million in Series B funding, doubling total funding to $175 million for its reusable rocket development. The company revealed the official name of its first rocket: Nova. Industrious Ventures led the Series B round, with notable participation from the University of Michigan, Sparta Group, and others. Key existing investors, including Breakthrough Energy and YCombinator, demonstrate strong confidence in Stoke’s vision. Steve Angel, former Linde CEO and Chairman of the Board at Linde PLC joined Stoke’s Board of Directors. This funding milestone propels Stoke Space towards its goal of pioneering highly efficient reusable rockets.

This funding will primarily be for improving the first-stage rocket engine and its overall structural design. Additionally, Stoke Space intends to allocate resources to refine and optimize the second stage of their rocket for efficient reuse in orbital missions. Furthermore, Stoke Space will use these funds to develop new infrastructure at Launch Complex 14, Cape Canaveral. The US Space Force has dedicated this historic launch site exclusively to Stoke Space. It holds significance for past space missions like NASA’s Mercury-Atlas 6 flight.

Andy Lapsa, CEO and Co-Founder of Stoke Space, highlighted their goal of creating the most robust and reusable rocket, spotlighting a unique second-stage design for rapid 24-hour turnarounds. He said in a statement:

“With our unique second stage design, our team at Stoke is attempting to build the most robust fully reusable rocket in the world – one that turns around in 24 hours throughout a long service life. This new round of funding is a huge vote of confidence in our team and the progress we’ve made. We will now continue moving through our development program by increasing focus on our reusable first stage.”

These announcements were made at the UP summit in Dallas, attended by top investors, fueling Stoke Space’s path toward sustainable and efficient space exploration.

About The Author

Leave a reply

Your email address will not be published. Required fields are marked *

Get Latest news in your inbox

Join our mailing list to receive the latest happenings from the startup world.

You have Successfully Subscribed!

Pin It on Pinterest

Share This