Stoke Space
Overview
Stoke Space is an innovative aerospace company focused on developing 100% reusable rockets aimed at revolutionizing space access. Founded in 2019 by Andy Lapsa and Tom Feldman, former engineers at Blue Origin, the company is headquartered in Kent, Washington. Stoke Space has raised approximately $480 million in funding as of January 2025. The company's mission is to provide low-cost, on-demand transport to and from space, with their flagship product being the Nova, a fully reusable medium-lift rocket.
Recent Developments
- January 2025: Stoke Space announced a successful $260 million Series C funding round led by prominent investors including Breakthrough Energy Ventures. This funding is aimed at completing the development of their Nova rocket and enhancing their launch facilities at Cape Canaveral.
- The funding round also reflects strong investor confidence in Stoke Space’s progress, particularly their ability to provide ultra-low-cost space transportation.
- This follows successful tests of their Zenith engine, a full-flow staged combustion engine, which marks Stoke as one of the only two entities to have achieved this technical milestone globally.
- December 2024: Stoke Space successfully conducted a hotfire test of their first-stage engine, Zenith, on a new vertical test stand at their Moses Lake facility.
- This marked a significant leap in the development of their fully reusable rockets, further proving the feasibility of their innovative technology.
- August 2024: The company secured a $4.5 million award from the Defense Innovation Unit (DIU) to develop solutions for responsive and precise space transportation, further diversifying their funding sources beyond private investment.
- October 2023: Stoke Space completed a Series B funding round of $100 million, consolidating financial stability and ensuring the continuation of their ambitious projects.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2019 |
| Headquarters | Kent, WA, USA |
| Founders | Andy Lapsa, Tom Feldman |
| Revenue | Not public |
| Profits | Not public |
| Key Investors | Breakthrough Energy Ventures, Glade Brook Capital Partners, Y Combinator, University of Michigan |
| Industry | Aerospace and Defense |
| Number of Employees | 184 |
Early History
Stoke Space was established in 2019 by Andy Lapsa and Tom Feldman, both of whom brought extensive experience from their previous roles at Blue Origin. Their vision was to address the high costs in the aerospace sector by developing fully reusable rockets. In its formative years, Stoke focused on building a capable team, securing initial funding, and setting up its facilities in Washington. Early on, the company benefited from SBIR contracts with NSF, NASA, and USSF, enabling them to bootstrap their technology development. By 2020, Stoke had successfully completed static tests of their prototype rocket engines, establishing a robust foundation for future growth.
Company Profile and Achievements
Stoke Space's business model centers on developing rockets with full and rapid reusability. Their flagship product, the Nova rocket, is designed to provide access to any orbit at a significantly reduced cost compared to traditional launch vehicles.
- Major Achievements:
- Successful development and testing of the Zenith engine, a full-flow staged combustion engine recognized for its efficiency.
- Pioneer of the world's first actively cooled metallic reentry heat shield, integrated to ensure full and rapid reuse of the rocket stages.
- Series of successful funding rounds, reflecting robust investor confidence and market validation.
- Building and operating a state-of-the-art test facility in Moses Lake, Washington, which allows for rapid iteration and development.
Current Operations and Market Position
Stoke Space is currently working on completing the build of their Nova launch vehicle, targeting initial launches in the near future. Their operations involve sophisticated manufacturing processes to produce rocket components rapidly and efficiently in their Kent headquarters. With the support of their recent funding, they are constructing Launch Complex 14 at Cape Canaveral, enabling dedicated use for Nova launches. Stoke aims to position itself as a viable competitor to major players like SpaceX by offering cost-efficient, on-demand space transport services.
Conclusion
Stoke Space is poised to be a transformative player in the aerospace industry. By advancing technology in reusable rockets, they aim to provide accessible space transport that meets the increasing demands for satellite launches and other orbital missions. With a solid foundation, substantial funding, and innovative technological advancements, Stoke Space is well-positioned to continue its trajectory towards becoming a leader in sustainable space transport solutions.