Stoke Space has secured the first tranche of a $1 billion Series E funding round, bringing the total capital raised by the startup to $2.3 billion. The investment was co-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.
The company plans to use the funds to support the first orbital launch of its Nova Pathfinder rocket, expand production and launch infrastructure, and accelerate the development of a second, larger vehicle known as Nova Block 2. This new rocket is designed to carry up to 15 metric tons to low Earth orbit within a five-metre fairing, with a debut targeted for 2029.
Founded in 2019 by former Blue Origin employees Andy Lapsa and Tom Feldman, Stoke Space focuses on developing fully reusable rocket stages. The company has seen significant funding activity recently, raising approximately $2.1 billion over the past 20 months. This includes a $260 million Series C, a $510 million Series D, and a subsequent extension of that round to $860 million.
The aerospace sector continues to attract substantial capital despite the status of flight testing. Other recent industry investments include K2 Space raising $500 million at a $6.8 billion valuation, Impulse Space securing $500 million at a $4.26 billion valuation, and True Anomaly raising $650 million at a $2.2 billion valuation. Stoke Space expects its Pathfinder rocket to fly in early 2027.
