Stoke Space Technologies has completed the initial closing of a $1 billion Series E funding round, bringing its total capital raised to $2.3 billion. The CEO, Andy Lapsa, stated that the funds are intended to scale the company’s infrastructure, increase production and flight frequency, and develop a second-generation rocket. The round was led by Point72 Ventures and Spark Capital, with participation from several other investors.

Stoke aims to develop a fully reusable rocket, with both the booster and second stages designed for reuse, a feat yet to be achieved. The company differentiates itself from competitors like Rocket Lab, Relativity Space, and Firefly Aerospace by employing a unique active cooling solution for the second stage’s thermal shielding, using super-cooled liquid hydrogen. Stoke plans to launch its first vehicle, the Nova Pathfinder, in early 2027, with a capacity to carry three metric tons to low Earth orbit. Additionally, the company is developing a larger rocket, the Nova Block 2, slated for deployment in 2029, which will have a payload capacity of 15 metric tons, slightly surpassing that of SpaceX’s Falcon 9. Source

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