Stoke Space Raises $350M Series D Extension, Bringing Total Round to $860M

Stoke Space has added another $350 million to its Series D financing round, bringing the total raise to a massive $860 million and signaling growing investor confidence in the company's vision for fully reusable rockets. With this extension, Stoke has now raised $1.34 billion in total funding, a remarkable figure for a company that has yet to fly its flagship vehicle.

From $510 Million to $860 Million

The original Series D round closed in October 2025 at $510 million, led by Thomas Tull's US Innovative Technology Fund (USIT), with participation from Silicon Valley Bank (providing a $100 million debt facility), Washington Harbour Partners, and General Innovation Capital Partners. Returning backers included 776, Breakthrough Energy, Glade Brook Capital, Industrious Ventures, NFX, Toyota Ventures, and Woven Capital, among others.

The $350 million extension, announced on February 10, 2026, did not disclose specific investor names. Stoke CEO and co-founder Andy Lapsa said the company is "executing with urgency to bring Nova to market and deliver for our customers."

What the Money Is For

The fresh capital will be used to accelerate future elements of Stoke's product roadmap, building on the original round's focus areas:

• Completing Launch Complex 14 at Cape Canaveral Space Force Station in Florida
• Expanding production capacity for the Nova launch vehicle
• Advancing development of upcoming capabilities beyond the initial Nova configuration

Launch Complex 14 holds deep historical significance. It was the pad where John Glenn launched aboard Friendship 7 in 1962, becoming the first American to orbit Earth. The site had sat dormant for over 50 years before Stoke began its refurbishment, reportedly completing the fastest pad build from concept to operation for a vehicle of this size.

The Nova Rocket: Fully Reusable by Design

What sets Stoke apart in the increasingly crowded launch market is its commitment to 100% reusability, not just the first stage, but the upper stage as well. The Nova rocket is a two-stage, medium-class vehicle designed to deliver up to 3,000 kilograms to low Earth orbit in its fully reusable configuration.

Perhaps most intriguingly, the upper stage is designed with the capability to retrieve payloads from orbit. This feature could unlock entirely new mission profiles for satellite servicing, in-space logistics, and technology demonstration.

Key Nova Specifications

• Class: Medium-lift launch vehicle
• Stages: Two (both fully reusable)
• Payload to LEO: Up to 3,000 kg (reusable mode)
• Launch site: Space Launch Complex 14, Cape Canaveral

A Crowded but Hungry Market

Stoke enters a launch landscape dominated by SpaceX but increasingly populated by well-funded competitors like Rocket Lab, Relativity Space, and Blue Origin. The appetite for dedicated medium-lift capacity remains strong, driven by growing demand from both commercial constellation operators and national security customers.

The involvement of defense-oriented investors in Stoke's Series D underscores the strategic importance of launch diversity for the U.S. government. Having multiple reliable, domestically produced launch vehicles is a national security priority, and Stoke's reusability approach could offer significant cost advantages over time.

What Comes Next

With Launch Complex 14 nearing operational readiness and $1.34 billion in the bank, all eyes are now on Nova's first launch, expected sometime in 2026. A successful maiden flight would validate years of development and position Stoke as a serious contender in the next generation of launch providers.

For an industry that has seen no shortage of ambitious promises, Stoke's rapidly growing war chest suggests that investors, at least, believe the company can deliver.