Stoke Space Secures $260M to Fund Nova Rocket

Stoke Space, a Washington-based space startup, has successfully raised $260 million in a Series C funding round, bringing its total funding to $480 million. Founded by former Blue Origin and SpaceX employees, Stoke aims to develop the first fully reusable rocket, the Nova, to provide low-cost access to space. The funds will be utilized to complete the construction of Launch Complex 14 at Cape Canaveral and accelerate the Nova rocket's development. Stoke's recent achievements include the successful test of its first-stage engine, Zenith, marking it as a significant competitor to SpaceX in reusable rocket technology. The investment round saw contributions from prominent investors like Breakthrough Energy Ventures and Y Combinator. This fundraising comes amidst a resurgence in space tech investment, with space startups raising $8.3 billion in 2024, indicating renewed investor confidence in the sector.