Stoke Space has secured a massive $510 million in Series D funding to fast-track production of its fully reusable Nova launch vehicle. The round, finalised on 23 September, was led by Thomas Tull’s US Innovative Technology Fund (USIT) and includes a $100 million debt facility from Silicon Valley Bank.
The new investment more than doubles the company’s total capital raised to $990 million, providing the resources needed to ramp up manufacturing and ready Nova for high-frequency launches.
Thomas Tull, Chairman of USIT, said, “Launch capacity is now a defining factor in the U.S.’s ability to compete and lead in the space economy.” He added that Stoke’s work “directly advances our national security and commercial access to orbit.”
Expanding America’s Launch Capabilities
Stoke Space’s growing role in the national space sector was highlighted earlier this year when the U.S. Space Force awarded the company a National Security Space Launch contract. The deal will help increase access to space for both government and commercial missions at a time when demand for medium-lift capacity is soaring.
CEO and co-founder Andy Lapsa said the new funding “gives us the runway to complete development and demonstrate Nova through its first flights.” He explained that Nova was designed “to address a real gap in launch capacity,” with its fully reusable design supporting frequent and affordable access to orbit.
Building The Infrastructure For Reuse
Alongside the development of Nova, Stoke is restoring the historic Launch Complex 14 at Cape Canaveral Space Force Station in Florida. The site, once used for Mercury missions, is being upgraded to support high-cadence, fully reusable operations and is expected to be activated in early 2026.
The company is also investing heavily in its Boltline product and supply chain systems to streamline production and speed up turnaround times between launches.
Growing Confidence From Investors
The Series D round attracted fresh backing from Washington Harbour Partners and General Innovation Capital Partners, while returning investors, including Toyota Ventures, Breakthrough Energy, and 776, reaffirmed their confidence in Stoke’s mission.
Lapsa said the ongoing support from both private and government partners “enables our team to remain laser focused on bringing Nova’s unique capabilities to market.”
With funding secured and test campaigns advancing, Stoke Space is positioning itself to redefine launch logistics, turning the concept of rapid, fully reusable spaceflight into a working reality.
