Stoke Space has raised $1 billion in its Series E, bringing total funding to $2.3 billion to advance its fully reusable Nova Pathfinder and the larger Nova Block 2 launch systems.

Pathfinder, the first Nova variant, will use seven Zenith engines on the first stage with an Andromeda upper stage and a 24-chamber thrust ring, capable of delivering about 3 metric tons to LEO, with its first flight aimed for early 2027 carrying a satellite from AstroForge.

Block 2 is designed to compete with SpaceX’s Falcon 9 and Rocket Lab’s Neutron, targeting large commercial and national security satellite constellations, while Pathfinder will operate alongside Block 2 to enable multiple mission configurations.

Stoke currently employs about 400 people across its Kent, Moses Lake, and Cape Canaveral sites, with additional remote staff.

Pallet, a Everett-based micro-home maker, is shutting down after nine years due to shifts in homelessness policy, funding environments, and market dynamics.

There is strong market demand for rocket launches, with leadership noting that demand is largely served today by SpaceX.

Industry context notes a growing demand for launches and a crunch in launch capacity, which Stoke aims to address by accelerating its timeline and expanding capacity.

Stoke emphasizes that full reusability is essential to lower costs and broaden market access, a view shared by investors and industry partners.

Investors monitor broader market factors, including Middle East developments, inflation, and oil prices, as well as upcoming US PPI and CPI data.

The article is by Jeff Foust of SpaceNews and references ongoing coverage of space policy and commercial space topics.

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Stoke’s approach is compared to SpaceX’s reusability model, a comparison echoed by Porsche SE’s CEO.