Stoke Space has secured $510 million in a Series D financing round to expand manufacturing and accelerate the development of its Nova rocket. The funding round follows the U.S. Space Force award of a National Security Space Launch contract to boost access to orbit, Stoke said Wednesday, noting that the contract highlights the need for reliable, medium-lift launch options to support both commercial and defense missions, as well as emerging architectures such as the Golden Dome.
Advancing Nova Development
Stoke’s Nova vehicle is being built as a fully and rapidly reusable system designed for frequent, cost-effective launches to and from orbit. Its capabilities are intended to support satellite deployment, in-space logistics and downmass operations.
Stoke CEO and co-founder Andy Lapsa said the new funding will allow the company to complete Nova’s development and prepare for initial flight demonstrations. “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,” he continued.
The fresh capital will also support scaling production, strengthening supply chains and expanding Stoke’s Boltline product line. The company plans to enhance infrastructure to sustain high-cadence launch operations, reinforcing capacity across the U.S. space industrial base.
The funding round, which closed on Sept. 23, was led by Thomas Tull’s US Innovative Technology Fund alongside a $100 million debt facility arranged by Silicon Valley Bank. The new capital more than doubles Stoke’s total funding to $990 million.
Since completing its Series C round, Stoke has achieved major technical milestones, including mission duty cycle testing for both rocket stages and structural qualification of Stage 1 and Stage 2 flight hardware. The company is also progressing with the refurbishment of Launch Complex 14 at Cape Canaveral Space Force Station, expected to be operational in early 2026.
