Stoke Space raises another billion to rival SpaceX at re-flying rockets

Key Points:

• Stoke Space Technologies has completed an initial closing of a $1 billion Series E funding round, bringing its total funding to $2.3 billion, to support scaling production, increasing flight frequency, and developing a second-generation fully reusable rocket.
• Unlike competitors, Stoke aims to create a rocket with both booster and payload-carrying second stages that return safely for reuse, using a unique active cooling system that flows super-cooled liquid hydrogen through thermal shields to protect against reentry heat.
• The company plans to launch its first vehicle, the Nova Pathfinder, capable of carrying three metric tons to low-Earth orbit, in early 2027, with multiple units already in production and launch contracts secured.
• Stoke is also developing a larger rocket, the Nova Block 2, designed to deliver 15 metric tons to low-Earth orbit by 2029, positioning itself to compete with SpaceX’s Falcon 9 as it phases out.
• CEO Andy Lapsa emphasizes the growing demand for launch capacity and aims to provide third-party launch services without operating its own space assets, potentially offering an alternative to SpaceX’s Starship, which may prioritize internal projects.