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Stoke Space Plans More Powerful Rocket, Raises $1 Billion
The startup says the funding will help scale its fully reusable design and expand test and launch facilities as it targets an early 2027 debut.
Stoke Space completed a $1 billion Series E funding round led by Point72 Ventures and Spark Capital this month to advance its fully reusable Nova rocket program.
The company plans to debut its smaller Nova Pathfinder rocket in early 2027, using it as a stepping stone to the larger Nova Block 2 targeted for 2029 launch.
Stoke Space CEO Andy Lapsa cited growing market demand for launch capacity as the primary driver for scaling the design, noting the company has already sold launch contracts for its vehicles.
To support operations, the startup is expanding its Moses Lake test facility to 550 acres, bringing total funding raised since its 2020 founding to $2.3 billion.
Clay Fisher of Spark Capital called full reusability the 'inevitable end state of the market,' a strategy Stoke pursues alongside competitors like SpaceX to reduce orbital access costs.