What's Happening?
Stoke Space has successfully closed a $510 million Series D financing round, led by Thomas Tull's U.S. Innovative Technology Fund. This funding will support the development and production of Stoke's Nova rocket, a fully reusable medium-lift launch vehicle. The investment will also facilitate the completion of a new launch complex at Cape Canaveral Space Force Station, with plans to activate the complex by early 2026. Stoke Space's inclusion in the Space Force's National Security Space Launch program allows it to compete for up to $5.6 billion in contracts through June 2029.
Why It's Important?
The substantial investment in Stoke Space underscores the growing interest and financial backing in the space industry, particularly for companies developing reusable launch technologies. The Nova rocket aims to fill a gap in launch capacity, offering potential benefits for satellite deployments and in-space mobility. The funding and government contracts position Stoke Space as a significant player in the space launch market, potentially influencing the competitive landscape and encouraging further innovation in reusable rocket technology.
What's Next?
Stoke Space plans to continue the development of the Nova rocket, with first flights expected soon. The company will also expand its Boltline software toolset for hardware engineering and supply chains. As Stoke Space progresses, it may attract additional commercial and government contracts, further solidifying its role in the space industry. The activation of the new launch complex at Cape Canaveral will be a critical milestone, enabling higher launch frequencies and supporting the company's growth ambitions.
