{"id":43570,"date":"2023-10-05T21:00:42","date_gmt":"2023-10-05T21:00:42","guid":{"rendered":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/10\/05\/stoke-space-raises-100m-series-b-as-it-looks-to-reach-orbit-by-2025-techcrunch\/"},"modified":"2023-10-05T21:00:42","modified_gmt":"2023-10-05T21:00:42","slug":"stoke-space-raises-100m-series-b-as-it-looks-to-reach-orbit-by-2025-techcrunch","status":"publish","type":"post","link":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/10\/05\/stoke-space-raises-100m-series-b-as-it-looks-to-reach-orbit-by-2025-techcrunch\/","title":{"rendered":"Stoke Space raises $100M Series B as it looks to reach orbit by 2025 | TechCrunch"},"content":{"rendered":"


\n<\/p>\n

\n

Stoke Space<\/a> is flying high. Fresh on the heels of a successful test of its reusable second stage, the four-year-old startup announced today that it closed $100 million in new funding led by Industrious Ventures.<\/p>\n

This newest round of funding included participation from the University of Michigan, Sparta Group, Long Journey, and other investors. Existing investors Breakthrough Energy, YCombinator, Point72 Ventures, NFX, MaC Ventures, Toyota Ventures, and In-Q-Tel also participated. Stoke has now raised $175 million to date, including a $65 million Series A the company closed in December 2021.<\/p>\n

Stoke said it would use the new capital to fund the development of its first rocket, which the company has finally christened, giving it the name \u201cNova.\u201d That includes the development of the first stage engine and structure, an orbital version of the second stage, and building out launch infrastructure at Cape Canaveral in Florida.<\/p>\n

The company recently completed a critical \u201chop\u201d test of its reusable upper stage<\/a>, successfully flying the development vehicle to an altitude of around 30 feet and vertically landing it about 15 feet away. While those numbers might seem unimpressive on the face of it, the hop proved out the stage\u2019s novel oxygen-hydrogen rocket engine design. Unlike other nozzled rocket engines, the one on Stoke\u2019s second stage is a distributed system, with thrusters that ring the circumference of the second stage.<\/p>\n

The flight essentially concluded the development cycle of the second stage, meaning that the architecture is now complete and the company can move on to the rest of the vehicle\u2019s structure. As Stoke co-founder CEO Andy Lapsa told TechCrunch last month, the company had to finalize the architecture of the second stage before building out the rest of the vehicle.<\/p>\n

\u201cThe first step on our journey was figuring out what a fully reusable upper stage and space vehicle looks like,\u201d he said. \u201cWe really believe that it\u2019s hard to build the rest of the vehicle until you know an answer. So that\u2019s why a lot of our focus so far has been on the reusable second stage.\u201d<\/p>\n

The company also announced that multinational chemical company Linde plc\u2019s chairman, Steve Angel, will join Stoke\u2019s Board of Directors. Angel is the former CEO of Linde and also sits on the board of GE.<\/p>\n

The new funding will no doubt aid the company as it looks to conduct its first orbital flight test in 2025.<\/p>\n

\u201cWe are pushing really hard to get to orbit by 2025,\u201d Lapsa said. \u201cThere are some interesting opportunities there to do things even before that. That\u2019s our target. We\u2019re going to step back from this a little bit, recalibrate, crystallize our plan. We do have a plan. We\u2019re just going to get more energy behind it and then get back to knocking off milestones.\u201d<\/p>\n<\/p><\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stoke Space is flying high. Fresh on the heels of a successful test of its reusable second stage, the four-year-old startup announced today that it closed $100 million in new funding led by Industrious Ventures. This newest round of funding included participation from the University of Michigan, Sparta Group, Long Journey, and other investors. Existing […]<\/p>\n","protected":false},"author":1,"featured_media":43571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":{"0":"post-43570","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/43570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=43570"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/43570\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/43571"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=43570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=43570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=43570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}