Washington reusable rocket startup Stoke Space raises $100 million
Publishing timestamp: 2023-10-05 17:20:47
Summary
Washington-based startup Stoke Space has raised $100 million in new funds to develop a fully reusable rocket called "Nova." The investment round was led by Industrious Ventures, and other investors include University of Michigan, Sparta Group, Bill Gates' Breakthrough Energy, and Toyota Ventures. Stoke aims to fortify the commercial space economy and compete with other companies developing reusable rockets. The company has already completed a successful low altitude flight test of its prototype "Hopper2" and plans to develop the second stage of the rocket before the first stage. Stoke is positioning itself to provide value to the satellite industry and shorten the time from factory to revenue.
Sentiment: POSITIVE
Tickers: LIN,
Keywords: business, space industry, science, aerospace and defense industry, linde plc, bill gates, breaking news: technology, washington, technology, transportation, breaking news: business, elon musk, the edge, business news,
Source: https://www.cnbc.com/2023/10/05/reusable-rocket-startup-stoke-space-raises-100-million.html