Key facts
- Stoke Space raised $1 billion in Series E funding.
- The company is developing a fully reusable rocket aiming for both stages to return to Earth.
- The Nova Pathfinder rocket is scheduled for a 2027 flight.
- A larger rocket, Nova Block 2, is planned for deployment in 2029.
- Stoke's technology includes an active cooling solution for thermal shielding using liquid hydrogen.
Stoke Space Technologies has secured $1 billion in a Series E funding round, led by Point72 Ventures and Spark Capital, to advance its fully reusable rocket technology and compete with established players like SpaceX. The company's unique approach involves reusing both the booster and second stages of its rockets, a feat not yet achieved in the industry.
CEO Andy Lapsa stated the funding will be used to scale production, build infrastructure, increase flight frequency, and develop a second-generation vehicle. Stoke's first rocket, the Nova Pathfinder, is slated for a 2027 flight, capable of carrying three metric tons to low-Earth orbit. The company is developing a larger rocket, the Nova Block 2, with a 15-metric-ton capacity, targeting a 2029 deployment.
Stoke's innovative thermal shielding, which uses super-cooled liquid hydrogen, is a key differentiator. This technology aims to manage the extreme heat during atmospheric re-entry for the second stage. The company has conducted extensive ground tests and is preparing for integrated testing of its rocket stages with the launch pad.
With SpaceX phasing out its Falcon 9 rocket around 2029, Stoke aims to capture market demand for launch services. Lapsa emphasized the importance of increasing rocket availability to scale the space economy, noting that companies will need reliable launch providers as internal projects may compete for capacity on SpaceX's Starship.