Washington-based startup Stoke Space raised $100 million in new funds, the company announced Thursday, as it aims to develop a fully reusable rocket called "Nova."
Stoke's latest investment round was led by Industrious Ventures – with the firm's Steve Angel, chairman of chemicals giant Linde , joining the Stoke board of directors.
While a number of U.S. companies are aiming to develop reusable rockets to compete with the success of Elon Musk's SpaceX, Stoke is taking a different approach from its rivals.
Stoke is developing Nova to be a "medium" class rocket that can deliver 5,000 kilograms to low Earth orbit.
That puts Nova in the middle of the launch market, between Rocket Lab's "light" Electron and SpaceX's "heavy" Falcon 9 in terms of capability.
Persons:
Steve Angel, fundraise, Bill Gates, Andy Lapsa, Elon, Lapsa, Nova
Organizations:
Stoke Space, Linde, Stoke, University of Michigan, Sparta Group, Breakthrough Energy, Point72 Ventures, MaC Ventures, Toyota Ventures, CNBC, SpaceX
Locations:
Washington, Stoke