(Reuters) -Stoke Space Technologies said on Wednesday it has raised $510 million in a funding round led by Thomas Tull’s US Innovative Technology Fund, to speed up development of the startup’s Nova reusable launch vehicles.
The round also drew backing from Washington Harbour Partners and General Innovation Capital Partners, and existing investors including 776, Breakthrough Energy, Glade Brook Capital and Toyota Ventures.
Earlier this year, the U.S. Space Force awarded Stoke a National Security Space Launch contract, underscoring growing demand for medium-lift launch capacity for defense, including for the proposed Golden Dome missile defense system, the company said.
Stoke is developing the fully reusable Nova rocket for frequent, low-cost space launches, backed by funding from the U.S. Space Force, NASA and other partners.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Sahal Muhammed)
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