Stoke Space Raises $260M for Reusable Rocket Development

Stoke Space Secures $260 Million in Series C Funding

Stoke Space, a company originating from the Y Combinator program, has recently completed a $260 million Series C funding round.

This new investment elevates the total funding received by the company to $480 million.

Previous funding rounds included a $100 million raise in October 2023 and $75 million secured in December 2021.

Founding and Early Development

Established in 2019, Stoke Space was founded by Andy Lapsa and Tom Feldman, both formerly of Blue Origin.

Feldman’s initial experience in the space industry began with an internship at SpaceX.

The company participated in the Winter 2021 cohort of the Y Combinator accelerator program.

Ambitious Rocket Design and Testing

Stoke Space is pursuing a highly ambitious objective: the development of the first completely reusable rocket system.

This encompasses full reusability for both the rocket booster and the second stage.

Recent progress was demonstrated last month with the release of video footage showcasing a successful test firing of the company’s first-stage rocket engine.

The newly acquired capital will be allocated towards the construction of new facilities located at the historically significant Cape Canaveral Space Force Station in Florida.

Investor Participation

The latest funding round saw participation from a diverse group of investors.

• Breakthrough Energy Ventures
• Glade Brook Capital Partners
• Industrious Ventures
• Point72 Ventures
• Seven Seven Six
• Y Combinator
• and additional investors

These firms collectively contributed to the $260 million Series C round.

Stoke Space is poised for significant growth with this influx of capital and continued development of its reusable rocket technology.