Stoke Space Secures $510 Million Investment, Accelerating Fully Reusable Nova Rocket Development

Stoke Space, a Kent, Washington-based aerospace company, recently announced a significant $510 million Series D funding round, bringing its total capital raised to nearly $1 billion. This substantial investment is set to accelerate the development of its Nova rocket, a medium-lift launch vehicle designed for 100% reusability. The Nova rocket has garnered attention for its innovative design, which aims to provide rapid and affordable access to orbit.

The Series D round was led by the U.S. Innovative Technology Fund (USIT) and included a $100 million debt facility from Silicon Valley Bank, following a $260 million Series C round less than nine months prior. According to CEO Andy Lapsa, this funding provides the "runway to complete development and demonstrate Nova through its first flights." The capital will also expand production capacity and activate Launch Complex 14 at Cape Canaveral Space Force Station.

Central to Nova's design is its full reusability, particularly its unique upper stage. As noted by social media user Teortaxes▶️, the Nova features "two fuel types (hydrogen for the upper stage!), and fully reusable without Starship's bulk." The second stage utilizes a liquid hydrogen/liquid oxygen (LH2/LOX) engine with an actively cooled metallic heat shield, a key innovation that eliminates the need for fragile thermal tiles and facilitates rapid turnaround. The first stage is powered by seven Zenith full-flow staged-combustion engines burning liquefied natural gas/liquid oxygen (LNG/LOX).

Nova is positioned as a medium-lift vehicle capable of delivering 3,000 kg to Low Earth Orbit (LEO) in a fully reusable configuration, or up to 7,000 kg in an expendable mode. This capability addresses a crucial gap in launch capacity, as evidenced by its selection for the U.S. Space Force’s National Security Space Launch (NSSL) Phase 3 Lane 1 program. The rocket is designed for diverse missions, including satellite deployment, in-space mobility, and returning cargo from orbit.

Stoke Space has made considerable progress, including successful hotfire tests of its Zenith engine in June 2024 and flight demonstrations of a full-scale prototype of its reusable upper stage in September 2023. While the company aims for an orbital flight by 2025, independent estimates suggest a 2026 timeline. The activation of Launch Complex 14 is anticipated for early 2026, paving the way for Nova's inaugural missions.