Stoke Space raises $1bn for a rocket that has never flown
Stoke Space has raised a billion dollars for a rocket that has never flown. The Washington company says the Series E takes its total funding to $2.3bn. It has not yet reached orbit once.
Point72 Ventures and Spark Capital co-led the round, according to Stoke’s announcement. General Innovation, Glade Brook Capital, US Innovation Technology, Washington Harbour Partners, Woven Capital and Y Combinator also took part. Stoke did not disclose a valuation.
Read the announcement carefully and it says something slightly narrower than the headline. Stoke has “completed an initial closing of its billion-dollar Series E”. The round is sized at a billion, then, but not necessarily all in the bank. The company has not said how much of it has closed.
The investor list is worth a second look too. Y Combinator is in it, which is unusual company for a rocket manufacturer at Series E. It also points...
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