Stoke’s Nova reusable medium-lift rocket. Photo: Stoke Space

Stoke Space raised $260 million in new Series C investment to accelerate development of its reusable medium-lift rocket. This funding doubles Stoke’s total funding to $480 million, the company announced Jan. 15.

The round included investors such as Breakthrough Energy Ventures, Glade Brook Capital Partners, Industrious Ventures, Leitmotif, Point72 Ventures, Seven Seven Six, the University of Michigan, Woven Capital, and Y Combinator, and others.

Based in Washington, Stoke plans to use the capital to complete construction at Launch Complex 14 at Cape Canaveral Space Force Station, where it will launch the Nova rocket. The company previously received $65 million in a Series A investment in Dec. 2021 and $100 million in a Series B investment in Oct. 2023.

The funding came weeks after Stoke successfully fired its first-stage Zenith engine, a full-flow staged combustion engine. Stoke has also developed an actively cooled metallic reentry heat shield for its upper-stage engine.

Andy Lapsa, CEO and co-founder of Stoke Space said: “This new investment validates our progress and enables us to accelerate the development of technologies that will redefine access to and from space.”