Washington-based aerospace company Stoke Space has announced $510 million in a Series D funding round, coinciding with $100 million in debt financing by Silicon Valley Bank. Thomas Tull’s U.S. Innovative Technology Fund led the capital raise, with participation from Washington Harbour Partners LP, General Innovation Capital Partners, 776, Breakthrough Energy and others.
In a news release, the company said the funding will be used to accelerate product development and expansion, building on its recent contracts that increase U.S. access to space. This includes continued work on Nova, Stoke’s reusable launch vehicle designed for high-frequency access to orbit and round-trip space missions.
Stoke also plans to complete activation of Launch Complex 14 at Cape Canaveral and invest in its Boltline product, supply chain and infrastructure to support launch operations and strengthen the broader U.S. space industrial base.
“We’ve designed Nova to address a real gap in launch capacity, and the National Security Space Launch award, along with our substantial manifest of contracted commercial launches, affirms that need. The fresh support from our investors and government partners enables our team to remain laser focused on bringing Nova’s unique capabilities to market,” the company’s CEO, Andy Lapsa, said in a statement.
