Stoke Space completed an initial $1 billion Series E funding round co-led by Point72 Ventures and Spark Capital. This capital injection increases the aerospace startup's total funding to $2.3 billion.
The company is developing Nova, a fully reusable medium-lift rocket designed to compete with SpaceX. Funds will accelerate preparations for Nova's first orbital test flight scheduled for early 2027.
Stoke Space will also use the capital to expand production and launch infrastructure. The firm plans to begin development on a larger, more capable version of its launch vehicle.