As of September 23rd, Stoke Space has raised $510 million in Series D funding, led by Thomas Tull’s US Innovative Technology Fund (USIT) in conjunction with a $100 million debt facility led by Silicon Valley Bank—this new financing, which more than doubles the company’s total capital raised to $990 million, will accelerate product development and expansion.
The round also drew support from Washington Harbour Partners LP and General Innovation Capital Partners, underscoring Stoke’s importance to national security and the U.S. industrial base. Existing backers who also participated include 776, Breakthrough Energy, Glade Brook Capital, Industrious Ventures, NFX, Sparta Group, Toyota Ventures, Woven Capital, among others.
Earlier this year, the U.S. Space Force awarded Stoke a National Security Space Launch contract that will expand the country’s access to space. The award reflects the growing demand for medium-lift capacity across commercial, defense, and emerging architectures, such as the Golden Dome. Our fully and rapidly reusable Nova launch vehicle is being developed to provide high-frequency access to orbit and support missions to, through, and from space, including satellite constellation deployment, in-space mobility, and downmass.
As our Series C, Stoke has completed mission duty cycle testing on Stage 1 and Stage 2 flight-like engine configurations and advanced structural qualifications for both stages. The firm has also made substantial progress in the refurbishment of Launch Complex 14 at Cape Canaveral Space Force Station, Florida, which is scheduled for activation in early 2026.
The new capital will expand production capacity for the Nova vehicle and complete activation of Launch Complex 14 at Cape Canaveral. Stoke will also invest in supply chain, the company’s Boltline product, and infrastructure to prepare for high-cadence launch operations, strengthening capability across the U.S. space industrial base.
so teams can build world-class hardware, fast.
Launch capacity is now a defining factor in the U.S.’s ability to compete and lead in the space economy,” said Thomas Tull, Chairman of USIT. “Stoke’s pioneering approach to reusable launch systems directly advances our national security and commercial access to orbit. Their vision for resilient, high-frequency launch operations is the kind of innovation essential to maintaining leadership in the space industry. We’re proud to support their mission in defining the next chapter of U.S. aerospace.”
This funding gives us the runway to complete development and demonstrate Nova through its first flights,” said Andy Lapsa, our co-founder and CEO. “We’ve designed Nova to address a real gap in launch capacity, and the National Security Space Launch award, along with our substantial manifest of contracted commercial launches, affirms that need. The fresh support from our investors and government partners enables our team to remain laser focused on bringing Nova’s unique capabilities to market.”
