Reusable "Novel" Rocket Design Raises $65 Million

Stoke Space Technologies has broken ground at their Moses Lake, Washington facility, beginning work on a planned expansion that will grow to include additional rocket technicians, test engineers, and project managers.

The introductory sale of company stock has brought in $65 million in funding to continue its development on a greener, more environmentally friendly launch vehicle. 

The company intends to create a "fully and rapidly reusable" launch system that "will provide low-cost, on-demand access to and from any location in orbit," including low-earth orbit, geostationary points, and eventually, lunar orbit. Details are sparse regarding the exact mechanism the completed system will use, but work on the second stage will be the first section developed. The company hopes to begin flight tests by the end of 2022, testing low-altitude vertical takeoff and landing trials. The initial test regimen will take place at the company's newest location at Moses Lake, with later, high-altitude flights to be announced at a suitable launch point.

Stoke's Series A funding round brought in $65 million, receiving interest from a smattering of companies. The list portrays a vote of confidence in Stoke's potential, including some serious VC players like big time venture capital firm Breakthrough Energy (of Bill Gates fame), as well as Spark Capital, Toyota Ventures, Alameda Research, and Global Founders Capital. The money is a vast improvement for a company that began the year with only 5 employees. 

The commercial launch systems market is growing quickly, and Stoke's late arrival to the game means they have to put in extra legwork to catch up. Lapsa, a former Blue Origin rocket engine designer, is betting that his company will differentiate itself through breakthrough innovation and nimble, outside-the-box problem solving. Stoke is the recipient of a NASA Small Business Innovation Research award for its novel rocket engine configuration, as well as an integrated propulsion system for reusable upper stages. That, combined with a key development in reusable, low-maintenance thermal protection, convinced the founders there was a place for them in the industry.

FMI: www.stokespace.com