Stoke Space, a pioneer in fully reusable medium-lift launch vehicles, announced the successful closing of a $260 million Series C funding round, bringing its total capital raised to $480 million. The Series C funding round reflects the growing demand for Stoke’s innovative approach to creating ultra-low-cost on-demand space transportation, as well as the exceptional progress the company has made in developing the fully reusable solutions that make low-cost access to and from space possible. The funding round involves new and existing investors and will go towards completing development of Nova as well as renovations of Launch Complex 14 at Cape Canaveral Space Force Station that will serve as the vehicle’s launch site.
Space Pioneers on a Mission
Founded in 2019 by Blue Origin veterans Andy Lapsa and Tom Feldman (the latter of whom began his career as a SpaceX intern), Stoke is on a mission to build Nova, the world’s first fully reusable medium-lift rocket capable of recovering both booster and second stage to Earth. In December 2024, Stoke successfully tested the Nova rocket’s main engine, Zenith, in a vertical position.
Zenith is a full-flow staged-combustion engine and Stoke is now one of only two organizations globally to develop and test this advanced architecture. The second stage engine has gone through a design upgrade to get it ready for flight. Once engine production is complete, the company will assemble a flight vehicle and put it through the final phases of testing.
An Offering That’s Out of this World
Nova is designed to place 3,000 kilograms into low Earth orbit when both stages are reused and up to 7,000 kilograms otherwise. The upper stage, which has an actively cooled metallic heat shield, can bring back payloads from orbit as well.
“Rapid and reliable reuse of a rocket’s upper stage is the last big challenge to solve before mobility to and from space becomes akin to other forms of transportation,” said Lapsa. “It represents a significant inflection in the space economy, and in turn opens the door to an incredible set of business opportunities that make life more vibrant on and off Earth.”
New Launch Facility with a Legendary Past
In addition to working on the Zenith engine, Stoke is also working to complete construction at Launch Complex 14 at Cape Canaveral Space Force Station in Florida and finalize environmental permitting. Launch Complex 14 was the place where John Glenn’s milestone orbital flight began in 1962, and it was allocated to Stoke by the United States Space Force. “We’re pushing really hard to have the pad ready, and it will be activated well before the end of the year,” Lapsa said. “And the vehicle will be right there with it.”
Why Zillionize Invested
Zillionize invested in Stoke Space because we recognized early on that solving upper-stage reuse is the last great technical barrier to making space transportation as routine as air travel. Stoke’s team has not only hit major milestones in engine and heatshield testing but has also secured the historic Launch Complex 14 for its maiden orbital flights.
We’re proud to back founders who combine visionary leadership with concrete progress. Stoke Space’s advancements in propulsion and reuse technology exemplify the kind of transformative innovation Zillionize seeks. With this Series C close, Nova is one step closer to lifting off and ushering in a new era of frequent, reliable, and affordable access to space.