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A Significant Funding Milestone
Stoke Space, a promising startup in the space industry, has recently secured a whopping $100 million in a funding round led by Industrious Ventures. This Series B funding saw contributions from notable entities such as the University of Michigan, Sparta Group, Long Journey, and several other investors. The company’s existing investors, including Breakthrough Energy, Y Combinator, Point72 Ventures, and others, also participated. With this new influx of capital, Stoke Space’s total funding has reached an impressive $175 million, which includes a $65 million Series A round closed in December 2021.
The Birth of “Nova”
The newly acquired funds are earmarked for the development of Stoke Space’s inaugural rocket, aptly named “Nova.” The company’s vision for Nova encompasses the creation of the first-stage engine and structure, an orbital version of the second stage, and the establishment of launch infrastructure at the renowned Cape Canaveral in Florida.
Breakthroughs in Reusable Rocket Technology
Stoke Space has recently celebrated a significant achievement with the successful “hop” test of its reusable upper stage. This test saw the development vehicle ascend to an altitude of approximately 30 feet before making a vertical landing about 15 feet from its starting position. While these figures might appear modest, they signify a monumental success in the rocket’s unique oxygen-hydrogen engine design. This design differentiates itself from conventional nozzled rocket engines, as it employs a distributed system with thrusters encircling the second stage’s circumference.
A Vision for the Future
Stoke Space’s Co-Founder and CEO, Andy Lapsa, emphasized the company’s commitment to understanding the intricacies of a fully reusable upper stage and space vehicle. Lapsa believes that the foundation of the entire vehicle rests on the architecture of the second stage. With the second stage’s development cycle now complete, the company is poised to advance to the subsequent phases of the vehicle’s construction. Furthermore, Steve Angel, chairman of the multinational chemical company Linde plc, is set to join Stoke Space’s board of directors, bringing with him a wealth of experience and expertise.
Orbital Flight Test on the Horizon
With its eyes set on the future, Stoke Space is fervently working towards its goal of conducting its inaugural orbital flight test by 2025. Lapsa expressed the company’s determination to achieve this milestone and hinted at potential opportunities that might arise even before the targeted date. The company is currently in the process of refining its plans and strategies to ensure it continues to meet its objectives and set new benchmarks in the space industry.
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