Overview
- USIT led the $510 million equity round, joined by Washington Harbour Partners, General Innovation Capital Partners and existing backers including 776, Breakthrough Energy, Glade Brook and Toyota Ventures.
- Stoke also secured a $100 million debt facility led by Silicon Valley Bank, bringing total capital raised to about $990 million.
- The company says the financing provides runway to complete development and demonstrate Nova in initial flights as it expands production capacity.
- Stoke reports full mission duty-cycle tests of flight-like engines for both stages and ongoing work to activate Launch Complex 14 at Cape Canaveral, which it expects to complete early next year.
- Nova targets about 3,000 kg to LEO when fully reusable and up to 7,000 kg expendable; Stoke holds an NSSL Phase 3 Lane 1 award and is working toward a 2026 first launch without a firm date disclosed.