Washington reusable rocket startup Stoke Space raises $100 million

Stoke Space, a startup based in Washington, has successfully raised $100 million in new funds, a significant milestone as it pushes forward in its mission to develop “Nova,” a fully reusable rocket. The latest investment round was spearheaded by Industrious Ventures, with Steve Angel, chairman of the chemicals giant Linde, joining Stoke’s board of directors.

Joining in this funding effort were notable investors, including the University of Michigan, Sparta Group, Long Journey, Breakthrough Energy Ventures (founded by Bill Gates), YCombinator, Point72 Ventures, NFX, MaC Ventures, Toyota Ventures, and In-Q-Tel.

Established in 2019, Stoke had previously raised $75 million in funding. However, the specific post-money valuation resulting from this recent funding round has not been disclosed by the company.

Stoke’s co-founder and CEO emphasized the importance of maintaining momentum in development and swiftly entering the market to bolster the still delicate commercial space economy, highlighting their dedication to advancing their ambitious rocket project.