Space

Stoke Lands $260M to Advance Reusable Rockets

Ken Metral

15 Jan 2025 — 2 min read

Credit: Stoke Space Technologies, Inc.

Stoke Space, a reusable rocket startup founded by former Blue Origin veterans Andy Lapsa and Tom Feldman, has raised an impressive $260 million in its Series C funding round. This brings the company’s total funding to $480 million, underscoring investor confidence in its ambitious vision to revolutionize space travel.

Aiming for Full Reusability

Founded in 2019, Stoke Space is working to create the first fully reusable rocket, encompassing both the booster and the second stage. This approach could drastically reduce costs and increase the frequency of space launches, making space more accessible.

The company has made significant progress toward this goal. Last month, Stoke successfully tested its first-stage rocket engine, a key milestone in proving its technology. The new funding will support the construction of state-of-the-art facilities at Florida’s iconic Cape Canaveral Space Force Station, where Stoke will continue its development and testing efforts.

A Growing War Chest

Stoke Space has steadily attracted investor interest, with this latest funding round adding to $100 million raised in October 2023 and $75 million in December 2021. The company is a graduate of Y Combinator’s winter 2021 cohort, further solidifying its roots in the startup ecosystem.

The Series C round includes contributions from a diverse array of high-profile investors:

Breakthrough Energy Ventures
Glade Brook Capital Partners
Industrious Ventures
Point72 Ventures
Seven Seven Six
Y Combinator
And several others

This broad investor backing highlights the growing enthusiasm for space innovation and Stoke’s unique position in the market.

Positioning for the Future

With this funding, Stoke Space is poised to advance its ambitious plans and join the ranks of pioneering companies pushing the boundaries of what’s possible in space exploration. Its focus on reusability aligns with industry trends toward sustainability and efficiency in space travel, echoing advancements by giants like SpaceX.

As Stoke builds out its infrastructure and refines its technology, the space industry and the world will be watching closely. If successful, Stoke Space’s fully reusable rockets could mark a turning point, ushering in a new era of frequent and affordable access to space.

With $480 million raised and a vision for game-changing innovation, Stoke Space is blazing a trail in the reusable rocket race.

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