Stoke Space Rockets to $260M in Funding for World’s First Fully Reusable Medium-Lift Rocket
22nd Jan 2025
Stoke Space, hailing from the US, has just secured series-C funding, equating to an acquired $260 million. The company is aiming to scale and accelerate their operation as they strive to build the world’s first entirely reusable medium-lift rocket, titled Nova. Sights are now set on achieving that mission, as well as making space access more cost-effective and accessible.
Stoke Space’s CEO and co-founder, Andy Lapsa, commented: “We deeply appreciate the confidence investors have placed in Stoke and our mission. This new investment validates our progress and enables us to accelerate the development of technologies that will redefine access to and from space.”
What just happened to Stoke Space’s funding?
Stoke Space has marked the start of the new year with a welcomed investment. The team of Blue Origin veterans in Lapsa and Thomas Feldman, co-founder and CTO, secured the $260 million which resulted in the company’s overall backing nearly doubling this month. Now, Stoke Space boasts a total funding figure of $480 million. The US launcher developers highlighted that investors ranged from existing partners to new backers, which included:
- Breakthrough Energy Ventures
- Glade Brook Capital Partners
- Industrious Ventures
- Leitmotif
- Point72 Ventures
- Seven Seven Six
- The University of Michigan
- And more.
In a statement, Stoke Space said the funding round: “reflects the growing demand for Stoke’s innovative approach to creating ultra-low-cost on-demand space transportation. The exceptional progress the company has made in developing the fully reusable solutions that make low-cost access to and from space possible.”
How Stoke Space intends to use the funding

With the $260 million acquired, Stoke Space said they will “complete construction at the historic Launch Complex 14 at Cape Canaveral Space Force Station”. This launch site in particular, was assigned by the US Space Force to Stoke Space for their Nova rocket launch. Once construction is complete, that is. further funding will be used to enhance “Stoke’s private test facility and manufacturing headquarters.”
In addition, Stoke Space said a portion of the funding will also be allocated towards finalising Nova’s development. Their fully reusable medium-lift Nova rocket is tipped to be a world first once complete. It will have the capability to transport upwards of 5-tonnes of payload to low Earth orbit. Previous testing – including their Hopper 2 test – has already yielded strong results. So with additional funding, Stoke Space aims to set the bar even higher and accomplish their ground-breaking reusable rocket mission.
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