Stoke Space raises $1bn for a rocket that has never flown

Stoke Space completed an initial closing of a $1 billion Series E round, bringing its total funding to $2.3 billion, with investors including Point72 Ventures, Spark Capital, Y Combinator and others. The capital will fund the development of its fully reusable Nova launch system, beginning with the Nova Pathfinder slated for an early-2027 orbital flight and followed by the larger Nova Block 2, aimed at delivering 15 metric tons to low-Earth orbit by 2029.