Stoke Space Raises $1 Billion to Accelerate Fully Reusable Launch

Stoke Space Technologies, Inc, the rocket company developing fully and rapidly reusable launch vehicles, led by Andy Lapsa, Tom Feldman, and the team, has announced that it has completed an initial closing of its billion-dollar Series E financing round. This funding brings Stoke’s total capital raised to $2.3 billion and will support the company as it prepares for its first orbital launch, expands production and launch capacity, and accelerates development of its larger Nova Block 2 launch vehicle.

The round 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, Y Combinator, and other new and existing investors.

“Stoke is pursuing what we see as one of the most important opportunities in space transportation: making launch fully reusable, reliable, and scalable,” said Chris Morales, Partner at Point72 Ventures. “Having supported Stoke through multiple stages of its growth, we believe this company has demonstrated both the exceptional technical progress and the ambition to build a launch system capable of serving the market at industrial scale. That progress has strengthened our conviction in the team. We are proud to support Stoke as it moves toward flight and high-cadence operations.”

“Every mature transportation system is built around fully reusable vehicles. It’s the only way to reach the cost floor while scaling availability. Space transportation will be no different,” said Andy Lapsa, co-founder and CEO of Stoke. “We are humbled by the trust our investors and customers have placed in us in pursuit of this critical generational challenge. This investment enables us to scale toward delivering the capability and cadence our customers require.”

The financing will advance Stoke’s reusable launch technologies and the manufacturing, testing, launch, and recovery infrastructure needed for high-cadence operations. Its Nova Pathfinder is nearing its first flight, with an orbital launch targeted for early 2027. The vehicle will carry payloads to orbit while validating Nova’s core architecture and full-reuse capabilities.

The Series E also funds an expanded roadmap, including the higher-capacity Nova Block 2, now in development. Designed to carry 15 metric tons to LEO in a 5-meter payload fairing, Block 2 is targeting its first launch in 2029, followed by a rapid production and flight ramp.

“Full reusability is the inevitable end state of the market, providing an order-of-magnitude cost and service advantage over partially reusable rockets,” said Clay Fisher, General Partner at Spark Capital. “Stoke had the right thesis seven years ago and has paired that prescient vision with a blistering pace of execution. As a result, they stand uniquely positioned to give customers more choice and capacity when they need it, and to unlock an enormous new economy in space.

“Nova Pathfinder is how we turn the promise of Nova into flight-proven capability,” Lapsa said. “Pathfinder allows us to learn quickly, reduce risk, and prove the hardest parts of a fully reusable architecture in flight. Nova Block 2 scales those lessons into the capacity and cadence our customers are asking for. This investment allows us to move with urgency on both and brings us closer to delivering payloads to any orbit at any time.”

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