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- Stoke Space
Stoke Space Valuation, Funding & Investors
Stoke Space is valued at $9B as of September 2026.
Last Stoke Space valuation
$9B
Series E · Sep 2026
Last Stoke Space funding round
$1B
Series E · Sep 2026
Cumulative funding Stoke Space raised
$2.2B
across 7 funding rounds
Key investors in Stoke Space
NFX
Point72 Ventures
Breakthrough Energy Ventures
Y Combinator
MaC Venture Capital
Toyota Ventures
About Stoke Space
Stoke Space is a Kent, Washington-based aerospace company engineering the fully reusable Nova rocket for orbital cargo and satellite deployments. The vehicle incorporates a heat-resistant upper stage for rapid reusability and point-to-point missions. Vertically integrated operations produce ring-based rocket engines tested at its Moses Lake facility.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services
Valuation
$9B (Sep 2026)
Stoke Space Valuation
Stoke Space is currently valued at $9B, based on its Series E in September 2026.
The $1B round was led by Point72 Ventures and Spark Capital, with participation from Glade Brook Capital Partners, Y Combinator, Washington Harbour Partners, US Innovative Technology Fund, General Innovation Capital and 1 other investor.
Stoke Space's valuation has grown 22x from $401M at its Series B in October 2023 to $9B in September 2026, across 4 priced rounds.
Stoke Space valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2026 | Series E | $9B |
| Oct 2025 | Series D | $2B |
| Jan 2025 | Series C | $944M |
| Oct 2023 | Series B | $401M |
Stoke Space Funding History
Stoke Space has raised a total of $2.2B across 7 funding rounds.
Stoke Space's first fundraising round was a $9M seed round in February 2021. The most recent completed round was a $1B Series E in September 2026.
Stoke Space funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2026 | Series E | Point72 Ventures (lead); Spark Capital (lead); Glade Brook Capital Partners; Y Combinator; Washington Harbour Partners; US Innovative Technology Fund; General Innovation Capital; Woven Capital | $1B | $9B | Stoke Space completed an initial close of its $1 billion Series E financing round in September 2026, bringing total capital raised to $2.3 billion. The round was co-led by Point72 Ventures and Spark Capital, with participation from General Innovation Capital Partners, Glade Brook Capital, US Innovation Technology Fund, Washington Harbour Partners, Woven Capital, Y Combinator, and other new and existing investors. The financing is intended to support preparation for Stoke’s first orbital launch, expansion of production and launch capacity, and continued development of its larger Nova Block 2 launch vehicle. The company said the capital will help bring Nova Pathfinder to flight and scale the infrastructure needed for reusable launch operations. Stoke Space develops fully and rapidly reusable launch vehicles. At the time of the round, it was advancing its Nova program toward first flight and building out manufacturing, test, launch, and recovery capabilities for a larger 15-ton-class vehicle. |
| Apr 2026 | Undisclosed stage | - | $275M | - | - |
| Oct 2025 | Series D | US Innovative Technology Fund (lead); Toyota Ventures; Glade Brook Capital Partners; Breakthrough Energy Ventures; Seven Seven Six; Sparta Group; Industrious Ventures; Washington Harbour Partners; NFX; General Innovation Capital; Leitmotif; Woven Capital | $510M | $2B | Stoke Space Technologies, founded in 2019 by Andy Lapsa and Tom Feldman (both formerly of Blue Origin), is developing the Nova, a fully reusable medium-lift launch vehicle designed for high-frequency orbital access. The company announced a $510 million Series D funding round in October 2025 at a $2 billion post-money valuation, led by Thomas Tull's US Innovative Technology Fund (USIT) in conjunction with a $100 million debt facility from Silicon Valley Bank. The round also included support from Washington Harbour Partners LP and General Innovation Capital Partners, with participation from existing investors including Breakthrough Energy Ventures, Glade Brook Capital, Industrious Ventures, NFX, Sparta Group, Toyota Ventures, and Woven Capital. This funding brought Stoke's total capital raised to $990 million (later extended to $1.34 billion with an additional $350 million announced in February 2026). The capital is being deployed to complete activation of Launch Complex 14 at Cape Canaveral Space Force Station, expand production capacity for Nova, and accelerate product development and supply chain infrastructure. In March 2025, the U.S. Space Force selected Stoke for its National Security Space Launch (NSSL) Phase 3 Lane 1 program, making it eligible to compete for up to $5.6 billion in launch contracts over the next decade. The company operates a 168,000-square-foot headquarters facility in Kent, Washington, and a 75-acre test facility in Moses Lake, Washington. Stoke Space has not yet launched a rocket to orbit and is pre-revenue, focusing on completing Nova's development and first flight demonstrations. |
| Jan 2025 | Series C | Point72 Ventures; Glade Brook Capital Partners; Y Combinator; Breakthrough Energy Ventures; Seven Seven Six; Industrious Ventures; University of Michigan; Leitmotif; Woven Capital; Bossa Invest | $260M | $944M | Stoke Space, a reusable rocket startup based in Kent, Washington, develops the fully reusable medium-lift Nova rocket to enable low-cost access to and from space, featuring innovations like the full-flow staged combustion Zenith first-stage engine and an actively cooled metallic reentry heat shield for the upper stage. The company raised $260 million in a Series C round announced around January 15, 2025, with investors including Breakthrough Energy Ventures, Glade Brook Capital Partners, Industrious Ventures, Leitmotif, Point72 Ventures, Seven Seven Six, University of Michigan, Woven Capital, Y Combinator, and others, bringing total funding to approximately $480 million since its 2019 founding. Proceeds will finalize Nova development, complete Launch Complex 14 at Cape Canaveral Space Force Station in Florida, and enhance manufacturing and test facilities in Kent and Moses Lake, Washington. The Series C validates progress including successful Zenith engine test-firing in late 2024, making Stoke one of only two companies with tested full-flow staged combustion engines alongside SpaceX. Stoke was selected for the U.S. Space Force's National Security Space Launch program Phase 3, eligible for up to $5.6 billion in contracts through 2029, and has a manifest of commercial launches. The round follows prior funding of $65 million Series A in December 2021 and $100 million Series B in October 2023. Space tech venture funding rebounded in 2024 to $8.3 billion, up 17% from 2023. A subsequent $510 million Series D led by U.S. Innovative Technology Fund was closed later in 2025, with a $100 million debt facility, to further iterate Nova and activate the Florida launch site by early 2026. |
| Oct 2023 | Series B | Industrious Ventures (lead); Point72 Ventures; Toyota Ventures; Y Combinator; Breakthrough Energy Ventures; Long Journey Ventures; MaC Venture Capital; Sparta Group; Trajectory Ventures; NFX; Explorer 1 Fund; IQT | $100M | $401M | Stoke Space is a rocket company developing fully reusable medium-lift rockets, including the Nova launch vehicle, aimed at providing low-cost, on-demand access to and from space. The company, founded around 2019, achieved milestones like successful tests of its reusable second stage prior to its Series B funding. In October 2023, Stoke closed a $100 million Series B round led by Industrious Ventures, with participation from Breakthrough Energy Ventures, Explorer 1 Fund (via University of Michigan), IQT (In-Q-Tel), Long Journey Ventures, MaC Venture Capital, NFX, Point72 Ventures, Sparta Group, Toyota Ventures, Trajectory Ventures (aligned with participants), and Y Combinator. This brought total funding to $175 million, following a $65 million Series A in December 2021. The Series B round valued Stoke Space at a post-money valuation of $400.95 million, with a price per share of $13.05. Funds were intended to support development toward reaching orbit by 2025, including work on the fully reusable rocket systems. Post-Series B, Stoke continued aggressive fundraising, raising a $260 million Series C in January 2025 at a $921.7 million post-money valuation, bringing total funding to $480 million. This was followed by Series D rounds totaling over $860 million by early 2026, pushing cumulative funding to $1.34 billion and valuations higher, reflecting strong investor confidence amid progress toward Nova's first launch from Cape Canaveral. The space tech sector saw $8.3 billion in VC funding in 2024, up 17% from 2023. |
| Dec 2021 | Series A | Breakthrough Energy Ventures (lead); Point72 Ventures; Toyota Ventures; Alameda Research; Spark Capital; Liquid 2 Ventures; Seven Seven Six; MaC Venture Capital; Global Founders Capital; Scribble Ventures; NFX | $65M | - | Stoke Space Technologies raised $65 million in Series A funding in December 2021, led by Breakthrough Energy Ventures. The round included participation from new investors Spark Capital, Point72 Ventures, Toyota Ventures, Alameda Research, and Global Founders Capital, alongside existing investors NFX, MaC Ventures, Alexis Ohanian's Seven Seven Six, and Joe Montana's Liquid2. This Series A represented one of the largest pure Series A investments ever for a space company at that time. Stoke Space is developing fully reusable medium-lift launch vehicles, specifically the Nova rocket designed to operate with aircraft-like frequency and provide on-demand access to multiple orbits including Low Earth Orbit, Geostationary Transfer Orbit, and Trans Lunar Injection. The company's reusable technology differentiates it from competitors building disposable rockets, addressing concerns about cost, availability, and space debris. Stoke's technology development has been supported by the U.S. Space Force, Defense Innovation Unit, NASA, and the National Science Foundation. The company has since raised significantly more capital, bringing total funding to $1.34 billion as of February 2026, with first rocket launch expected in 2026. |
| Feb 2021 | Seed | MaC Venture Capital (lead); NFX (lead) | $9M | - | - |
Who has invested in Stoke Space?
26 investors have backed Stoke Space across its funding rounds, including NFX, Point72 Ventures, Breakthrough Energy Ventures, Y Combinator, MaC Venture Capital and Toyota Ventures.
Lead investors include Point72 Ventures, Spark Capital, US Innovative Technology Fund, Industrious Ventures, Breakthrough Energy Ventures and 2 other investors.
Stoke Space Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Dec 2021 | ||
| 4 | Lead | Dec 2021 | ||
| 4 | Lead | Feb 2021 | ||
| 3 | Participant | Dec 2021 | ||
| 3 | Participant | Jan 2025 | ||
| 3 | Participant | Oct 2023 | ||
| 3 | Participant | Dec 2021 | ||
| 3 | Lead | Feb 2021 | ||
| 3 | Lead | Oct 2023 | ||
| 3 | Participant | Jan 2025 | ||
| 2 | Lead | Dec 2021 | ||
| 2 | Participant | Oct 2023 | ||
| 2 | Participant | Oct 2025 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialStoke Space Competitors
Stoke Space competitors include listed companies like Mazagon Dock Shipbuilders, China Spacesat, China Aerospace Times and Embraer, and private ones like Agile Space Industries and Sierra Space.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.4B | $248M | $9.3B | 5.7x | ||
| Publicly listed | $910M | $56M | $10B | 10.0x | ||
| Private | $28M | - | $8B | 285.7x | ||
| Private | $45M | - | $8B | - | ||
| Publicly listed | $2.1B | $166M | $7B | 3.5x | ||
| Publicly listed | $7.6B | $604M | $13B | 1.7x |
Stoke Space Public Comps
Stoke Space is still privately-owned, but its public comps include Avic Xian Aircraft, Korea Aerospace Industries, Mazagon Dock Shipbuilders, AVIC Airborne Systems, China Spacesat, CAE, StandardAero, Hanwha Systems, Shimadzu and China Aerospace Times.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $6.1B | $338M | 1.4x | 1.4x | 25.1x | - | |||
| $2.7B | $273M | 4.2x | 3.3x | 41.6x | 35.5x | |||
| $1.4B | $248M | 5.9x | 5.7x | 32.4x | 32.1x | |||
| $3.6B | $478M | 2.6x | 2.6x | 19.4x | 20.2x | |||
| $910M | $56M | 11.3x | 10.0x | 183.0x | 134.8x | |||
| $3.5B | $741M | 2.8x | 2.7x | 13.2x | 11.7x | |||
| $6.1B | $745M | 1.6x | 1.6x | 13.2x | 11.2x | |||
| $2.7B | $233M | 4.4x | 3.9x | 50.8x | 39.3x | |||
This data is available for Pro users. Sign up to see all Stoke Space competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Stoke Space
| When was Stoke Space founded? | Stoke Space was founded in 2019. |
| Where is Stoke Space headquartered? | Stoke Space is headquartered in Seattle, WA, United States. |
| Is Stoke Space publicly listed? | No, Stoke Space is a private, VC-backed company. |
| What is Stoke Space's valuation? | Stoke Space was last valued at $9B in its Series E in September 2026. |
| How much funding has Stoke Space raised? | Stoke Space has raised $2.2B across 7 funding rounds. |
| What was Stoke Space's last funding round? | Stoke Space's last funding round was a $1B Series E in September 2026, led by Point72 Ventures and Spark Capital. |
| Who are Stoke Space's investors? | Stoke Space's investors include Point72 Ventures, Breakthrough Energy Ventures, NFX, Toyota Ventures, Glade Brook Capital Partners, Y Combinator, Seven Seven Six, MaC Venture Capital, Industrious Ventures, Woven Capital and 16 others. |
| Which companies are comparable to Stoke Space? | Companies comparable to Stoke Space include Mazagon Dock Shipbuilders, China Spacesat, Agile Space Industries, Sierra Space, China Aerospace Times and Embraer. |
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