The reusable rocket startup Stoke secures a new funding round of $260 million.
Stoke, a startup that was part of Y Combinator, has set the ambitious goal of developing the first fully reusable rocket, and investors are showing great interest by investing in it.
Stoke Space, a startup that emerged from the Y Combinator program, has successfully raised $260 million in a new Series C funding round, bringing its total to $480 million. This funding follows a previous raise of $100 million in October 2023 and $75 million in December 2021.
Founded in 2019 by Andy Lapsa and Tom Feldman, who have experience at Blue Origin and SpaceX, the company has the ambitious goal of developing the first fully reusable rocket, which would encompass both the booster and the second stage. Last December, Stoke Space released a video showcasing the success of a test of its first-stage engine.
The funds raised in this latest round will primarily be used to construct new facilities at the historic Cape Canaveral Space Station in Florida. Among the investors participating in this round are Breakthrough Energy Ventures, Glade Brook Capital Partners, Industrious Ventures, Point72 Ventures, Seven Seven Six, and Y Combinator, among others.