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Some of the most prestigious venture capital funds in America are betting on a bold new vision: fully reusable rockets.
What’s happening:
- Aerospace startup Stoke Space has raised $260M USD in a new Series C financing round
- The round was led by Breakthrough Energy Ventures and Point72 Ventures
Why it matters:
- Stoke Space is developing the world’s first completely reusable medium-lift rocket, which is aiming to dramatically reduce both the costs of new launches as well as enable significantly more frequent access to space
By the numbers:
- Stoke Space has now raised approximately $480M USD in venture capital funding since inception
- Stoke Space's reusable medium-lift rocket known as Nova is expected to be able to reduce the cost of new launches by roughly 65% compared to expendable rockets
Going deeper:
- Multiple other notable venture capital funds also participated in the most recent financing round including Y Combinator, Seven Seven Six, Woven Capital and even the University of Michigan
- Stoke Space has also secured meaningful support from the American government, including existing deals with the United States Space Force, NASA and the National Science Foundation
