Stoke Space raises another billion to rival SpaceX at re-flying rockets
The fuel for a fully reusable rocket that can unlock truly low-cost access to space isn’t methane or liquid oxygen. It’s cash, and Stoke Space Technologies is tanking up. The company has now “completed the initial closing” of a $1 billion Series E round intended to help it reach orbit and prepare a new, larger rocket for operations.
“This round is really to scale,” CEO Andy Lapsa told TechCrunch. “To lay the infrastructure, to scale in production and flight frequency, and importantly to fund the development of the second generation vehicle.”
The round was led by Point72 Ventures (hedge fund billionaire Steve Cohen’s tech investment vehicle), and Spark Capital, and included investment from General Innovation, Glade Brook Capital, US Innovation Technology, Washington Harbour Partners, Woven Capital and Y Combinator, among others.
Stoke is one of a handful of startups attempting to compete with Elon Musk’s SpaceX in the low-cost rocket...
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