Stoke Space said to be raising as much as $500 million in private investment capital

Stoke’s Nova rocket, designed to be
completely reusable.
UPDATE: Stoke Space confirms the story, announcing today that it has raised $510 million in new capital.
According to anonymous sources, the rocket startup Stoke Space is in the process of raising as much as $500 million in private investment capital, with new $2 billion valuation for the company.
Stoke Space, one of the Seattle area’s up-and-coming space startups, is said to be raising hundreds of millions of dollars in a funding round that it hasn’t yet publicly acknowledged. A report about the round, based on two unidentified sources, was published today by The Information.
The Information quoted its sources as saying that the funding round could total as much as $500 million, and would value Stoke at nearly $2 billion. That figure would be roughly twice as much as the $944 million valuation that was cited by Pitchbook as of January. The round’s lead investor is said to be Thomas Tull’s United States Innovative Technology Fund.
Earlier this year Stoke raised $260 million, bringing its available capital to almost a half billion. If this story is confirmed, it means the company will have almost a billion in available cash on hand.
The design of Stoke’s Nova rocket is unique in that both the lower and upper stages will be reusable. The first stage will land vertically, like SpaceX’s Falcon 9. The upper stage meanwhile uses a radical nozzle design, a ring of tiny nozzles around the perimeter of a heat shield, to protect it during re-entry.
The company has said it plans the first launch in 2026, but has not been more specific as to when. If successful, this rocket will certainly become a major player, as it will be able to offer even lower prices than SpaceX because none of the rocket will be expendable.
Stoke’s Nova rocket, designed to be
completely reusable.
UPDATE: Stoke Space confirms the story, announcing today that it has raised $510 million in new capital.
According to anonymous sources, the rocket startup Stoke Space is in the process of raising as much as $500 million in private investment capital, with new $2 billion valuation for the company.
Stoke Space, one of the Seattle area’s up-and-coming space startups, is said to be raising hundreds of millions of dollars in a funding round that it hasn’t yet publicly acknowledged. A report about the round, based on two unidentified sources, was published today by The Information.
The Information quoted its sources as saying that the funding round could total as much as $500 million, and would value Stoke at nearly $2 billion. That figure would be roughly twice as much as the $944 million valuation that was cited by Pitchbook as of January. The round’s lead investor is said to be Thomas Tull’s United States Innovative Technology Fund.
Earlier this year Stoke raised $260 million, bringing its available capital to almost a half billion. If this story is confirmed, it means the company will have almost a billion in available cash on hand.
The design of Stoke’s Nova rocket is unique in that both the lower and upper stages will be reusable. The first stage will land vertically, like SpaceX’s Falcon 9. The upper stage meanwhile uses a radical nozzle design, a ring of tiny nozzles around the perimeter of a heat shield, to protect it during re-entry.
The company has said it plans the first launch in 2026, but has not been more specific as to when. If successful, this rocket will certainly become a major player, as it will be able to offer even lower prices than SpaceX because none of the rocket will be expendable.