Stoke Space has raised $1 billion in a Series E, bringing total funding to $2.3 billion to push the fully reusable Nova Pathfinder and the larger Nova Block 2 launch vehicles toward flight.

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

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

Stoke is using an active cooling approach with a stainless steel base heat shield and liquid hydrogen cooling through channels, eliminating tile-based maintenance and enabling self-monitoring reentry protection.

CEO Andy Lapsa says reusable transportation is essential to achieving a cost floor and scalable space access, thanking investors and customers for their support.

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

Pallet, a micro-homes maker in Everett, Washington, is shutting down after nine years amid shifts in homelessness policy, funding, and market dynamics.

There is strong market demand for rocket launches, with leadership noting SpaceX currently dominates the segment.

Industry context describes a growing demand for launches and an opportunity crunch, which Stoke is addressing by accelerating its timeline and expanding capacity.

Investors are watching broader market signals, including Middle East developments and inflation, with Brent crude around $98 per barrel and upcoming U.S. PPI/CPI data.

The piece is by SpaceNews writer Jeff Foust and covers ongoing space policy and commercial space topics.

Porsche SE’s leadership notes Stoke Space as a unique player pursuing full reusability of both rocket stages from day one, a distinction in the current landscape.