Funding
Stoke Space Secures $150 Million Conditional Loan From Defense Department for Second Launchpad
By News Desk ·
Key takeaways
- The Defense Department signed a $150 million conditional loan commitment with Stoke Space Technologies for a second launchpad at Cape Canaveral Space Force Station.
- Stoke Space closed the initial $1 billion portion of its Series E round in September, which it said brings capital raised to $2.3 billion.
- Stoke Space is targeting early 2027 for the first orbital launch of its Nova Pathfinder.
Stoke Space Technologies signed a $150 million conditional loan commitment with the Defense Department, the reusable-rocket company's latest capital injection. Morningstar reported the agreement, which supports the buildout of a second launchpad at Cape Canaveral Space Force Station in Florida.
Stoke Space's Defense Department Loan
The Office of Strategic Capital said the commitment supports the company's expansion at Cape Canaveral Space Force Station and "more broadly supports the expansion of U.S. launch capacity, which is required to meet the rising demand for commercial and national security space launch by the United States Space Force." Stoke's technology supports orbital plane changes and the capture and return of space assets. The Pentagon's investment follows Stoke's initial closing of a $1 billion Series E financing round in September, which the company said would bring capital raised to $2.3 billion and help accelerate development of its Nova Block 2 launch vehicle. Stoke is targeting early 2027 for the first orbital launch of its Nova Pathfinder. Its backers include Point72 Ventures, Y Combinator and others, and Porsche said in September that it participated in the Series E funding.
Stoke Space's Funding Records
Stoke Space's akta.pro company records list a September 2026 Series E of $1 billion led by Point72 Ventures and Spark Capital, and a Series D of $860 million led by US Innovative Technology Fund. The same records show cumulative capital raised of $1.34 billion as of February 2026, across Seed, Series A, Series B, Series C, Series D and a Series D extension.
| Round | Amount | Date |
|---|---|---|
| Series A | $65 million | December 2021 |
| Series B | $100 million | October 2023 |
| Series C | $260 million | January 2025 |
| Series D | $510 million | October 2025 |
| Series D extension | $350 million | February 2026 |
Stoke Space's Path to the Nova Launch
Stoke Space is raising $1 billion to accelerate development and production of its fully reusable Nova rocket, aiming to compete with SpaceX, Bloomberg reported in August 2026. In July 2026, former OpenAI executive Kevin Weil joined the company's board of directors, according to The American Bazaar. Stoke Space delivered its first-stage booster structure to Moses Lake, Washington, for testing as it approached its inaugural launch, Yoursourceone reported in May 2026.
Stoke Space's Next Steps
Stoke Space is targeting early 2027 for the first orbital launch of its Nova Pathfinder.