The fresh capital more than doubles the company’s total funding to US$990 million (AU$1.51 billion), setting the stage for rapid expansion and accelerated development of its fully reusable Nova launch vehicle.
The latest investment round also attracted support from Washington Harbour Partners LP and General Innovation Capital Partners, further highlighting Stoke’s growing strategic importance to both US national security and the wider industrial base. Returning investors include 776, Breakthrough Energy, Glade Brook Capital, Industrious Ventures, NFX, Sparta Group, Toyota Ventures, and Woven Capital.
Earlier this year, the US Space Force awarded Stoke a National Security Space Launch (NSSL) contract, expanding America’s access to orbit and addressing a sharp increase in demand for medium-lift launch capacity across commercial, defence, and emerging systems such as the Golden Dome program.
The Nova launch vehicle, designed for full and rapid reusability, aims to deliver high-frequency orbital access for missions involving satellite constellation deployment, in-space mobility and cargo return to Earth.
“Launch capacity is now a defining factor in the US’ ability to compete and lead in the space economy,” said Thomas Tull, chairman of US Innovative Technology Fund.
“Stoke’s pioneering approach to reusable launch systems directly strengthens national security and commercial access to orbit. Their vision for resilient, high-frequency launch operations is the type of innovation critical to maintaining leadership in global aerospace.”
Since its Series C raise, Stoke has completed mission duty cycle testing on both Stage 1 and Stage 2 flight-ready engines, as well as advanced structural qualification for the two stages. The company has also made major progress refurbishing Launch Complex 14 at Cape Canaveral Space Force Station, Florida, with activation scheduled for early 2026.
“This funding gives us the runway to complete development and demonstrate Nova through its first flights,” said Andy Lapsa, Stoke’s co-founder and CEO. “Nova is built to fill a genuine gap in global launch capacity. The NSSL award and our growing list of commercial customers confirm that need. With this new support from investors and government partners, our team is fully focused on delivering Nova’s unique capabilities to market.”
The new capital injection will be used to expand production capacity, complete activation of Launch Complex 14, and strengthen the company’s US supply chain. Stoke will also invest in its Boltline product and supporting infrastructure to prepare for high-cadence launch operations, reinforcing resilience across the American space industrial base.