Stoke Space Secures $260 Million to Revolutionize Space Travel
January 16, Washington – Stoke Space, another startup based in Kent that is developing a fully reusable medium-lift rocket for space travel, recently won a whopping $260 million in Series C. That puts the company at a total of $480 million in terms of funding. This latest investment follows a $100-million round completed in October 2023, and also a $75 million round raised back in December 2021.
Founded in 2019 by ex-Blue Origin engineers Andy Lapsa and Tom Feldman, Stoke Space exists to transform space travel through developing cost-effective and environmentally suitable rockets. The recent show of technical expertise came in the form of completing a successful test of its first-stage Zenith rocket engine, integral to the Nova rocket project.
The funding will go towards redevelopment of Cape Canaveral Space Force Station, Florida’s historic Launch Complex 14, which hosted John Glenn’s orbital flight in 1962 and which will serve as Nova’s dedicated launch complex. Because Nova seeks to dramatically reduce launch costs to orbit, this may open up the wider commercial opportunities for space travel.
“We deeply appreciate the confidence investors have placed in Stoke and our mission. This new investment validates our progress and enables us to accelerate the development of technologies that will redefine access to and from space.”
-Andy Lapsa, CEO and Co-Founder, Stoke Space
Investors during this round include high rollers such as Breakthrough Energy Ventures, Glade Brook Capital Partners, and Y Combinator. Lapsa thanked all his investors for their support and described the funding as many things: A sign of validation of the Stoke Space mission and an acceleration of its development efforts.
With further innovations and capability developments in the works at Stoke Space, it would seem that the embryonic company is positioning itself to take prime focus in the new space economy: Pioneering there to reach towards making space more accessible to commercial opportunities. With the first orbital test flight slated for later this year, Stoke is very much ready to redefine how mankind approaches space travel.
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