Stoke Space, an innovative space startup aiming to revolutionize rocket technology, has successfully raised $260 million in a series C funding round. This significant investment, led by Seven Seven Six and featuring notable contributors such as Breakthrough Energy Ventures and Y Combinator, marks a pivotal moment in the company’s journey toward creating the first fully reusable rocket. Founded in 2019 by Blue Origin veterans Andy Lapsa and Tom Feldman, Stoke Space is ambitiously building its operations at Florida’s iconic Cape Canaveral Space Force Station.
The latest funding round boosts Stoke Space's total raised capital to an impressive $480 million. The company, which participated in the winter 2021 Y Combinator cohort, has drawn a diverse group of investors over the years, including Glade Brook Capital Partners and Industrious Ventures. In addition to the current series C funding, Stoke Space secured $100 million in October 2023 and $75 million back in December 2021.
Stoke Space's mission to develop a fully reusable rocket encompasses both the booster and second stage, a feat yet to be accomplished in the aerospace industry. Last month, the company shared a video showcasing the successful test of its first-stage rocket engine, underscoring its progress toward achieving this groundbreaking goal. Tom Feldman, who co-founded Stoke Space with Andy Lapsa, began his illustrious career as an intern at SpaceX, bringing valuable experience to the venture.
Building at Cape Canaveral, a location steeped in space exploration history, Stoke Space is well-positioned to advance its ambitious objectives. The startup's focus on sustainability and reusability aligns with the evolving priorities of the space industry, which seeks to reduce costs and environmental impact through innovative technologies.
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