Stoke Space raised $1 billion in a Series E financing co-led by Point72 Ventures and Spark Capital, bringing its total capital raised since its 2020 founding to $2.3 billion. The round values the company at roughly $10 billion, according to a person familiar with the matter. The funding will accelerate development of the Nova Pathfinder rocket, which Stoke plans to debut in 2027, and support a larger Nova Block 2 vehicle targeted for its first launch in 2029. Pathfinder's launch manifest is fully booked for the next couple of years, while Stoke is in early customer discussions for Block 2. The company is pursuing fully reusable rockets as demand grows for satellite constellation deployment and replacement. Pathfinder is designed to carry three metric tons to low Earth orbit in reusable mode, while Block 2 is expected to carry up to 15 metric tons fully reusable and 23 metric tons expendable. Block 2 will use 14 Zenith engines, twice Pathfinder's number, and is intended to serve customers deploying larger and more numerous spacecraft. Existing development work includes Pathfinder testing, production and launch infrastructure, and a thermal-protection system that circulates super-cooled liquid hydrogen through the heat shield. Stoke's technology development has received support from NASA, the U.S. Space Force, the Defense Innovation Unit and the National Science Foundation.