Stoke Secures $260M for Reusable Rocket Leap
Deal News | Jan 22, 2025 | Raptor Capital Management LP
Stoke Space, a rocket company based in Kent, Washington, has secured a $260 million Series C funding round led by Raptor Capital Management LP. The funding will be utilized to advance the development of Stoke's fully reusable Nova rocket and complete its launch pad. The rocket, capable of carrying between 3,000 kg and 7,000 kg to Low Earth Orbit, boasts innovations such as an actively cooled metallic heat shield and a full-flow combustion engine to achieve cost-effective and frequent reusability. The round saw participation from investors such as Breakthrough Energy Ventures, Y Combinator, Point72 Ventures, and Woven Capital, with a maiden flight planned for Nova within the year. CEO Andy Lapsa emphasizes the importance of fully reusable space vehicles in reducing per-mission costs significantly, aligning with investor sentiments on the future of space transportation.
Sectors
- Aerospace and Defense
- Venture Capital
Geography
- United States – Stoke Space is based in Kent, Washington, USA, where it continues to develop its space technology.
Industry
- Aerospace and Defense – This industry is involved due to Stoke's development of rockets and the focus on space transportation technology.
- Venture Capital – The sector pertains to the venture capital investments made in Stoke Space during its Series C funding round.
Financials
- $260 million – The amount raised by Stoke Space in its Series C funding round.
- $480 million – The total amount raised by Stoke Space to date.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Stoke Space | Target Company | Company | A Kent, WA-based startup focusing on the development of fully reusable rockets. |
| Raptor Capital Management LP | Investor | PE Firm | The lead investor in Stoke Space's Series C funding round. |
| Breakthrough Energy Ventures | Investor | Company | A participant in the Series C funding round, investing in innovative energy solutions. |
| Y Combinator | Investor | Company | A venture capital firm and startup accelerator participating in the funding round. |
| Point72 Ventures | Investor | Company | A venture capital firm investing in the Series C funding round. |
| Woven Capital | Investor | Company | An investment company participating in Stoke's Series C funding round. |
| Andy Lapsa | CEO | Person | CEO of Stoke Space, sharing insights on the company's innovations and goals. |