Stoke Space has raised $1 billion in its Series E funding round, bringing the company’s total investor haul to $2.3 billion. The Sept. 8 announcement detailed plans for the development of its fully reusable Nova Pathfinder launch vehicle and the more powerful Nova Block 2 rocket, with the latter targeted for its first launch in 2029.
What Happened
The Kent, Washington-based company stated that the new capital will support the scaling of its two-stage vehicles, which are designed for full and rapid reusability. Nova Pathfinder, described by Stoke as the largest first rocket ever undertaken by a U.S. launch company, features a first stage powered by seven Stoke-designed full-flow, staged-combustion (FFSC) Zenith engines fueled by liquid oxygen and liquefied natural gas (LNG). The upper stage utilizes an Andromeda propulsion system integrated with a metal heat shield actively cooled by liquid hydrogen, a design choice intended to reduce maintenance between flights by minimizing residuals like soot.
Stoke also provided updates on the Nova Block 2, which is designed to deliver up to 15 tons to low Earth orbit (LEO). This configuration will feature 14 Zenith engines on the first stage and will transition from Pathfinder’s tapered design to cylindrical tanks to accommodate a 5-meter-wide fairing. The company noted that the Block 2 upper stage may increase thrust by over a factor of five compared to Pathfinder. Infrastructure expansions were also announced, including a 475-acre addition to the Moses Lake Test Site in Washington and the construction of a new payload processing facility at Space Launch Complex-14 at Cape Canaveral Space Force Station in Florida.
Why It Matters
Stoke’s development of the Nova Block 2 positions it as a direct competitor to SpaceX’s Falcon 9 and Rocket Lab’s upcoming Neutron vehicle. The timing of Block 2’s projected 2029 debut coincides with SpaceX CEO Elon Musk’s statements that the success of Starship will lead to the winding down of Falcon 9 operations, although certain NASA missions are expected to continue until at least 2030. By targeting large commercial and national security satellite constellations, Stoke aims to fill potential capacity gaps in the launch market as the industry transitions to next-generation heavy lift vehicles.
The Bottom Line
Stoke Space has secured significant funding to advance its reusable launch architecture, with a first orbital launch for Nova Pathfinder targeted for early 2027 and the heavier-lift Nova Block 2 scheduled for 2029. The company is simultaneously expanding its testing and operational infrastructure in Washington and Florida to support this timeline.