Stoke Space raises $1B Series E to challenge SpaceX with fully reusable rockets
Original: Stoke Space raises another billion to rival SpaceX at re-flying rockets
Why This Matters
Full rocket reusability is the key frontier in reducing launch costs; Stoke's $2.3B total funding signals serious commercial momentum.
Stoke Space Technologies has completed the initial closing of a $1 billion Series E round led by Point72 Ventures and Spark Capital, bringing total funding to $2.3 billion. The company aims to launch its Nova Pathfinder rocket in early 2027 and develop a next-generation fully reusable vehicle.
Stoke Space Technologies has closed the initial tranche of a $1 billion Series E funding round, bringing its total raised capital to $2.3 billion. The round was led by Point72 Ventures — the tech investment vehicle of hedge fund billionaire Steve Cohen — and Spark Capital, with additional participation from General Innovation, Glade Brook Capital, US Innovation Technology, Washington Harbour Partners, Woven Capital, and Y Combinator.
CEO Andy Lapsa told TechCrunch the funds are intended to scale production, increase flight frequency, and finance development of a second-generation launch vehicle. 'This round is really to scale,' Lapsa said. 'To lay the infrastructure, to scale in production and flight frequency, and importantly to fund the development of the second generation vehicle.'
Unlike rivals Rocket Lab, Relativity Space, and Firefly Aerospace, Stoke is pursuing full reusability — recovering both the booster stage and the upper stage after each flight. This goal has never been achieved by any launch provider, including SpaceX, whose Starship program has yet to reach orbit despite more than $10 billion in development spending over a decade.
Stoke's Nova Pathfinder rocket uses an active thermal protection system that flows super-cooled liquid hydrogen through its heat shield during reentry — a novel solution to the thermal shielding challenge that has stalled SpaceX's Starship upper stage development. Lapsa stated the system has undergone extensive ground testing and will be used conservatively on early flights.
The company targets a first flight of Nova Pathfinder in early 2027. Structural and operational tests on the first stage have been completed at the Moses Lake, Washington facility, with ground firing tests of both stages planned as the next milestone.