Stoke Space, a Washington-based rocket startup, said it completed an initial close of a US$1 billion series E round led by Point72 Ventures and Spark Capital to fund increased production, flight cadence, and development of a larger fully reusable rocket.

The company said total funding has reached US$2.3 billion.

The new raise follows a series D that Stoke said it had extended to US$860 million, after announcing new investment on January 15, 2025.

Stoke is developing a rocket designed to return both the booster and upper stage for reuse.

The company said its Nova Pathfinder vehicle is set for a first flight in early 2027 after first-stage tests at its Moses Lake facility. Ground test firings of each rocket stage are next.

Stoke was also selected for the US Space Force’s US$5.6 billion National Security Space Launch competition. The selection signals government interest, but does not amount to firm launch contracts.

🔗 Source: TechCrunch