Stoke Space Technologies has raised $510 million in Series D funding to accelerate manufacturing of its fully reusable Nova launch vehicle. The round was led by Thomas Tull's US Innovative Technology Fund (USIT), with the company also securing a $100 million debt facility led by Silicon Valley Bank. The financing more than doubles Stoke's total capital raised to $990 million.
Washington Harbour Partners LP and General Innovation Capital Partners joined the round alongside returning backers including 776, Breakthrough Energy, Glade Brook Capital, Industrious Ventures, NFX, Sparta Group, Toyota Ventures, and Woven Capital. The broad support reflects investor confidence in Stoke's ability to address national security needs while expanding commercial access to orbit.
The U.S. Space Force awarded Stoke a National Security Space Launch contract earlier this year, positioning the company to fill gaps in medium-lift capability. Demand is rising across commercial satellite deployment, defense applications, and emerging architectures like the Golden Dome program. Stoke's Nova vehicle is designed for rapid reusability, enabling high-frequency missions to, through, and from space—including constellation deployment, in-space mobility, and return payloads.
"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."
The new funding will expand production capacity for the Nova vehicle and complete activation of Launch Complex 14 at Cape Caneveral Space Force Station in Florida, scheduled to go operational in early 2026. Stoke will invest in supply chain infrastructure, its Boltline product line, and facilities needed to support high-cadence launch operations.
"This funding gives us the runway to complete development and demonstrate Nova through its first flights," said Andy Lapsa, co-founder and CEO of Stoke. "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."
Since closing its Series C round, Stoke has hit several technical benchmarks. The company completed mission duty cycle testing on both Stage 1 and Stage 2 flight-like engine configurations and advanced structural qualifications for both stages. Work on Launch Complex 14 has progressed substantially, with refurbishment efforts moving the site closer to operational readiness.
Stoke Space Technologies is developing the Nova rocket to operate with aircraft-like frequency, aiming to reduce costs and increase availability for orbital missions. The company was founded to create fully and rapidly reusable launch vehicles that can handle diverse mission profiles across commercial, civil, and defense sectors.
The company's approach centers on reusability across both rocket stages, a technical challenge that few launch providers have tackled at medium-lift scale. If successful, Nova could provide the U.S. with additional launch options beyond existing providers, strengthening resilience in the domestic space industrial base.
Stoke's technology development has received support from multiple government agencies, including the United States Space Force, Defense Innovation Unit (DIU), NASA, and the National Science Foundation. These partnerships have helped validate the company's technical direction while aligning its capabilities with national priorities.
The Series D round brings together investors with expertise in national security, emerging technologies, and large-scale industrial operations. USIT's involvement signals confidence in Stoke's strategic importance to U.S. competitiveness in space. Washington Harbour Partners and General Innovation Capital Partners add depth in areas related to defense and infrastructure.
Returning investors including 776, Breakthrough Energy, Glade Brook Capital, Industrious Ventures, NFX, Sparta Group, Toyota Ventures, and Woven Capital have continued to back the company's vision across multiple funding rounds. Their sustained support reflects belief in both Stoke's technical execution and market opportunity.
With nearly $1 billion in total capital raised, Stoke is now positioned to move from development into production and flight operations. The company's focus on reusability, combined with government contracts and commercial commitments, places it among a small group of U.S. launch providers preparing to meet rising demand for space access.
