Stoke Space Funding
Stoke Space secures $1 billion in funding to advance reusable rocket programs.
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The Series E also included General Innovation, Glade Brook Capital, US Innovation Technology, Washington Harbour Partners, Woven Capital and Y Combinator; Stoke did not disclose a valuation, and the company has not said how much of the planned round has actually closed.
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Nova Pathfinder is designed to carry 3 metric tons to low Earth orbit in reusable mode, or up to 7 metric tons if operated expendably. Its first stage uses seven Zenith engines producing a combined 700,000 pounds of thrust, while the upper stage uses 24 thrust chambers integrated around its heat shield.
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Stoke plans a series of prelaunch tests for Pathfinder: the first stage is to undergo additional testing and a static-fire test at Cape Canaveral, while the upper stage will receive structural and hot-fire testing at Moses Lake before being sent to Florida.
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The company’s first Pathfinder mission is expected to carry a spacecraft for California-based asteroid-mining startup AstroForge, providing an early commercial payload for Nova’s debut orbital flight.
Stoke Space, a U.S. rocket startup, has closed the first portion of a roughly $1 billion Series E funding round, bringing its total capital raised to about $2.3 billion. BNN Bloomberg reports the round values the company at roughly $10 billion and is led by Point72 Ventures and Spark Capital. The funding will expand manufacturing, testing, and launch infrastructure as Stoke advances its fully reusable Nova rocket program toward its first orbital flight in early 2027.
Stoke's Nova Pathfinder is designed to carry 3 metric tons to low Earth orbit in reusable mode, or 7 metric tons if flown as a disposable rocket. The larger Nova Block 2, planned for 2029, will lift up to 15 metric tons to orbit. The company is developing a liquid-hydrogen-cooled metallic heat shield to enable its upper stage to survive repeated reentry and recovery — a technology that has yet to fly.
A $1 Billion Bet on Fully Reusable Rockets
Point72 Ventures and Spark Capital are leading Stoke's Series E round alongside General Innovation, Glade Brook Capital, Y Combinator, and others. Stoke has not disclosed the exact amount closed or the full valuation, but BNN Bloomberg puts the round at roughly $1 billion with the company valued at $10 billion. The capital will fund manufacturing capacity at Stoke's Moses Lake facility in Washington, plus testing and recovery infrastructure needed to support rapid rocket reuse.
Fully reusable rockets demand far more upfront investment than expendable or partially reusable vehicles. Stoke must develop heat shields, propulsion systems, and testing rigs before flying anything. The payoff comes later, through lower launch costs and higher flight frequency once the company achieves operational reuse at scale.
Nova Pathfinder Targets Orbital Flight in Early 2027
Stoke's Nova Pathfinder is a scaled demonstrator designed to prove the company's fully reusable architecture before attempting larger missions. The first stage uses seven Zenith engines producing 700,000 pounds of combined thrust. The upper stage integrates 24 thrust chambers around its heat shield, which must protect the vehicle during orbital-speed reentry and enable safe landing for recovery.
Before flying to orbit, Pathfinder will undergo extensive ground testing. The first stage will receive static-fire tests at Cape Canaveral, while the upper stage undergoes structural and hot-fire testing at Moses Lake before shipment to Florida. The maiden mission is expected to carry a spacecraft for asteroid-mining startup AstroForge, providing an early commercial payload for Nova's debut.
Block 2 Reflects Demand for Larger Launch Capacity
Stoke's planned Nova Block 2, arriving in 2029, will lift 15 metric tons to low Earth orbit — five times the payload of Pathfinder. This jump in capacity reflects market demand for larger satellites and institutional missions. Launch capacity is becoming a strategic bottleneck globally, and fully reusable systems promise lower costs and more frequent access to space.
Investors worldwide are funding advanced launch platforms despite technical risk and long development timelines. Europe's Exploration Company separately raised $450 million to advance its reusable space capsule and Storm methane-oxygen engine, with most funding directed toward testing through 2028. These parallel investments signal that space access and propulsion are viewed as long-term strategic assets.
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