Stoke Space Technologies has secured an additional $1 billion in a Series E funding round, bringing its total capital raised to $2.3 billion. The funding, led by Point72 Ventures and Spark Capital, is intended to support the company's efforts to achieve orbit and prepare a new, larger rocket for operations.
CEO Andy Lapsa stated that the round will help scale infrastructure, production, and flight frequency, as well as fund the development of a second-generation vehicle. Stoke Space is developing rockets where both the booster and payload-carrying second stage are designed for reuse, a capability not yet achieved in the industry.
The company's first vehicle, the Nova Pathfinder, is anticipated to launch in early 2027. Lapsa expressed confidence in this target following structural and operational tests of the rocket's first stage. The next steps involve ground test-firing each stage to prepare for flight.
Stoke Space has also revealed plans for an even larger rocket, the Nova Block 2, which has been under development for several years. This vehicle is designed to carry 15 metric tons to low-Earth orbit, using the same technologies as the Pathfinder, including the engines and a novel active cooling heat shield.