Total amount raised
$436.2 Millions
Latest funding date
1/1/2025
Location
Stoke Space has successfully raised $480 million over multiple funding rounds, with the latest being a $260 million Series C investment. The company is focused on developing fully reusable rockets to revolutionize access to space.
Keep reading to explore the intricacies of Stoke Space's fundraising journey and the investors backing this innovative venture.
What Is Stoke Space?
Stoke Space, founded in 2019 by Andy Lapsa and Thomas Feldman, is based in Kent, Washington. The company specializes in developing fully reusable rockets aimed at revolutionizing space access. With a team of 101-250 employees, Stoke Space is committed to creating sustainable and cost-effective solutions for the satellite industry.
How Much Funding Has Stoke Space Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: September 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to kickstart the development of reusable rocket technology.
- Seed Round
- Amount Raised: $9.1 million
- Date: February 2021
- Lead Investors: MaC Venture Capital, NFX
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the company's core technology and expand the team.
- Grant
- Amount Raised: $750,000
- Date: May 2021
- Lead Investors: NASA Small Business Innovation Research / Small Business Technology Transfer
- Valuation at Round: Not applicable
- Motivation Behind the Round: To support early-stage research and development.
- Series A
- Amount Raised: $65 million
- Date: December 2021
- Lead Investors: Breakthrough Energy Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up operations and accelerate the development of reusable rockets.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: February 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue technological advancements and prepare for upcoming launches.
- Grant
- Amount Raised: $1 million
- Date: July 2022
- Lead Investors: National Science Foundation
- Valuation at Round: Not applicable
- Motivation Behind the Round: To fund research and development activities.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: May 2023
- Lead Investors: IQT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing projects and technological innovations.
- Series B
- Amount Raised: $100 million
- Date: October 2023
- Lead Investors: Industrious Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance the development of reusable rocket technology and expand the team.
- Series C
- Amount Raised: $260 million
- Date: January 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the fully reusable Nova launch vehicle and complete the launch facility at Cape Canaveral.
Total amount raised: $480 million. Current valuation: Not publicly disclosed.
Key Investors
- Breakthrough Energy Ventures
- Details: Breakthrough Energy Ventures is a venture capital firm focused on funding innovative companies that can significantly reduce greenhouse gas emissions. It was founded by Bill Gates and other high-profile investors.
- Investment Focus Areas: Clean energy, climate change solutions, sustainable technologies.
- Notable Investments: QuantumScape, Commonwealth Fusion Systems, Form Energy.
- Industrious Ventures
- Details: Industrious Ventures is a venture capital firm that invests in early-stage technology companies. They focus on supporting innovative startups with high growth potential.
- Investment Focus Areas: Early-stage technology companies, innovation, high-growth startups.
- Notable Investments: Not publicly disclosed.
- Point72 Ventures
- Details: Point72 Ventures is the venture capital arm of Point72 Asset Management, investing in early-stage technology companies. They leverage their extensive network and resources to support portfolio companies.
- Investment Focus Areas: Technology, artificial intelligence, financial technology.
- Notable Investments: Scale AI, Socure, Extend.
- Seven Seven Six
- Details: Seven Seven Six is a venture capital firm founded by Alexis Ohanian, co-founder of Reddit. The firm focuses on early-stage startups across various sectors.
- Investment Focus Areas: Early-stage technology startups, innovation, diverse sectors.
- Notable Investments: Dispo, Alt, Pearpop.
- National Science Foundation
- Details: The National Science Foundation (NSF) is an independent federal agency created to promote the progress of science. They provide grants to support research and development in various scientific fields.
- Investment Focus Areas: Scientific research, technology development, innovation.
- Notable Investments: Various research projects across multiple scientific disciplines.
What's Next for Stoke Space?
Stoke Space is poised to capitalize on the burgeoning market for reusable rockets, with their Nova launch vehicle at the forefront. The $260 million Series C funding will accelerate the development of Nova and the renovation of their launch site at Cape Canaveral. This positions Stoke Space to tap into commercial space travel, satellite deployment, and space exploration, offering significant growth potential.
Future fundraising efforts are likely as the company hits key milestones, attracting further investment from aerospace and defense sectors. However, they will face technical challenges in developing fully reusable rockets and competition from established players like SpaceX and Blue Origin. Regulatory hurdles and extensive testing requirements also loom as potential obstacles.
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