Stoke raises $1bn to accelerate fully reusable Nova launchers

(SpaceEnergy) US reusable-launch company Stoke Space has completed an initial $1bn Series E financing closing to fund Nova development, production capacity and preparations for its first orbital launch.

The financing brings Stoke’s total capital raised to $2.3bn. Point72 Ventures and Spark Capital co-led the round, with participation from new and existing investors including Woven Capital, Y Combinator and US Innovation Technology.

Stoke said the capital will advance its core reuse technologies and expand manufacturing, testing, launch and recovery infrastructure for higher-frequency operations. Its Nova Pathfinder vehicle is approaching its first flight, targeted for early 2027.

Pathfinder is intended to carry payloads to orbit while demonstrating the architecture and technologies required for full vehicle reuse. Its upper stage uses Stoke’s liquid-hydrogen/liquid-oxygen Andromeda engine, while the first stage uses seven liquid-natural-gas/liquid-oxygen Zenith full-flow staged-combustion engines.

The company also disclosed its larger Nova Block 2 configuration, already under development. It is designed to place 15 tonnes into low-Earth orbit using a 5m payload fairing, with its first launch targeted for 2029.

“Pathfinder allows us to learn quickly, reduce risk, and prove the hardest parts of a fully reusable architecture in flight,” co-founder and chief executive Andy Lapsa said.