Stoke Space Raises $100M in Series B Funding

Stoke Space, a Dallas, TX-based company building a fully and rapidly reusable rocket, raised $100m in Series B funding.

The round was led by Industrious Ventures with participation from the University of Michigan, Sparta Group, Long Journey, and others. Existing investors Breakthrough Energy, YCombinator, Point72 Ventures, NFX, MaC Ventures, Toyota Ventures, and In-Q-Tel also participated. As part of this round, Steve Angel, Chairman of the Board, Linde plc, will join Stoke’s Board of Directors.

The company intends to use the funds to fund further development of its rocket called Nova and new construction at Launch Complex 14 at Cape Canaveral Space Force Station, Fla.

Led by Andy Lapsa, CEO and Co-Founder, Stoke Space is scaling the space economy by providing low-cost, on-demand transport to, through, and from space. It’s developing fully and rapidly reusable rockets and space vehicles designed to operate with aircraft-like frequency. Stoke’s technology development has been funded by the U.S. Space Force, NASA, the National Science Foundation, and other government and private partners.

On Sept. 17, 2023, Stoke Space conducted a vertical takeoff and vertical landing (VTVL) developmental test flight of its reusable second stage rocket. The test was conducted at Stoke’s testing facility in Moses Lake, Wash. During this test, known as Hopper2, Stoke was able to launch the Hopper test vehicle to an altitude of 30 feet and land at its planned landing zone following 15 seconds of flight. The test demonstrated Stoke’s novel hydrogen/oxygen engine, regeneratively cooled heat shield, and differential throttle thrust vector control system, as well as its avionics, software, and ground systems.

Stoke Space, a Dallas, TX-based company building a fully and rapidly reusable rocket, raised $100m in Series B funding. Best wishes to everyone in the group. This will be a huge accomplishment for them in the future.

Shishir Gupta, The Founder & CEO of StartupLanes

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