Commercial space startup Stoke Space Technologies has closed a $1 billion Series E financing round co-led by Point72 Ventures and Spark Capital, bringing its total raised capital to $2.3 billion as it accelerates development of fully reusable launch vehicles to compete directly with SpaceX.
The fresh capital will fund the upcoming debut of Stoke’s smaller Nova Pathfinder rocket—targeted for its first orbital test in early 2027—and fully greenlight development of Nova Block 2, a medium-lift vehicle capable of delivering 15 metric tons to low-Earth orbit in a fully reusable configuration (or 23 metric tons expendable). Founded by former Blue Origin engineers, Stoke differentiates itself by pursuing rapid, full reusability for both upper and lower stages using a novel liquid-hydrogen thermal heat shield architecture, aiming to dramatically undercut current launch cost floors as satellite constellation operators demand expanded orbital capacity.
