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Stoke Space raises $1 billion for fully reusable rockets, targets 'early 2027' for 1st-ever launch
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Stoke Space has raised $1 billion in a new funding round, a massive vote of confidence for the startup's plan to build a fully reusable rocket. The company says the capital will accelerate development of its Nova launch vehicle, with a first orbital flight now targeted for early 2027. If successful, Nova would become one of the first fully reusable orbital rockets in history, following in the wake of SpaceX's Starship. The announcement instantly repositioned Stoke as one of the most closely watched private space companies.
Stoke Space was founded in 2019 by former Blue Origin engineers Andy Lapsa and Tom Feldman. The Kent, Washington-based company has spent years pursuing a radical reusability strategy: not just recovering the first stage, but also bringing the second stage back for a rapid reflight. The company previously tested a small prototype called Hopper2, which demonstrated vertical takeoff and landing using a ring of engines and a metallic heat shield. Stoke also secured access to Launch Complex 14 at Cape Canaveral Space Force Station, a historic pad once used for Mercury missions.
The new $1 billion round is among the largest private investments in a launch startup this decade. Stoke says the funding will support engine qualification, stage integration, heat-shield testing, and launch pad infrastructure. Nova is designed as a medium-lift rocket with a fully reusable first stage and a fully reusable second stage. The upper stage uses an unusual ring of small engines and a metallic thermal protection system, a design intended to survive reentry without fragile ceramic tiles. The first stage, meanwhile, burns liquid oxygen and methane, a propellant combination favored for reusability.
Stoke's technical approach differs sharply from that of SpaceX, which uses a stainless steel vehicle with a ceramic heat shield. By contrast, Stoke's second stage is built around a metallic heat shield that also serves as the vehicle's structure. The company believes this design can enable faster turnaround and lower maintenance costs. If Nova works as planned, it could carry thousands of kilograms to low Earth orbit while flying back both stages. That would mark a major step beyond partially reusable rockets like Falcon 9.
The impact of a successful Nova could be enormous. Fully reusable rockets promise to slash launch costs, increase flight rates, and open new markets such as orbital manufacturing, defense constellations, and human space stations. Stoke would also become a direct challenger to SpaceX, Blue Origin, Rocket Lab, and other launch providers. For the U.S. Space Force and NASA, a second fully reusable option would reduce reliance on a single provider. For investors, Stoke represents a bet that reusability will define the next decade of spaceflight.
Reactions to the raise were broadly positive, though experts cautioned that early 2027 is an ambitious target. Investors praised Stoke's engineering team and its willingness to solve hard problems in-house. Industry analysts noted that full reusability, especially of the upper stage, remains one of the toughest challenges in aerospace. Some observers compared the moment to the early days of SpaceX, when skeptics doubted reusable boosters would ever be economical. Others warned that Stoke must still prove its heat shield, engines, and operational cadence.
Looking ahead, Stoke faces a busy test schedule. The company must complete static fires, integrated stage tests, and landing demonstrations before attempting an orbital launch. It also needs to finish upgrades at Launch Complex 14 and secure regulatory approvals. If those milestones go smoothly, Nova could fly in early 2027, but delays are common in the launch industry. A successful first flight would not immediately mean routine reusability; Stoke would then need to refly both stages and demonstrate rapid turnaround.
Even so, the $1 billion raise gives Stoke the resources to move aggressively. It signals that investors see a durable market for reusable launch, and that they are willing to fund competitors to SpaceX. If Stoke delivers on even part of its promise, it could reshape launch economics and expand what is possible in orbit. For now, the space community will be watching closely as the company races toward its first orbital attempt.
