Funding round
Stoke Space Series B
Stoke Space, which works in reusable rocket design and manufacturing in Kent, raised $100M in a Series B round announced on 5 Oct 2023, led by Industrious Ventures. 11 firms took part. It is Stoke Space's second venture round on record; the one before was a Series A in Dec 2021.
$100M
Amount raised
Not disclosed
Post-money valuation
11
Investors
1 lead
Valuation
What this round says about the price
Stoke Space did not disclose a valuation in this round. It came 22 months after Stoke Space's Series A. It is 5.2% of the $1.94B Stoke Space has raised in the venture rounds on record. Stoke Space raised again 15 months later: a Series C round of $260M in Jan 2025. Its next priced round, a Series E in Sep 2026, valued it at $10.00B.
Stoke Space's funding rounds
Stoke Space has 5 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 15 Dec 2021, led by Breakthrough Energy $65M
- Series B this round 5 Oct 2023, led by Industrious Ventures $100M
- Series C 15 Jan 2025 $260M
- Debt not a venture round 23 Sep 2025, led by Silicon Valley Bank $100M
- Series D 23 Sep 2025 $510M
- Series E 8 Sep 2026, led by Point72 Ventures and Spark Capital $1.00B$10.00B post-money
Investors
Who put money in
Industrious Ventures led the round with 10 other firms.
Lead investor
- backs 18 venture-backed companies new investor
Also in the round
- University of Michigan new investor
- backs 8 venture-backed companies new investor
- backs 70 venture-backed companies new investor
- Breakthrough Energy backs 113 venture-backed companies new investor
- Y Combinator backs 1,295 venture-backed companies new investor
- Point72 Ventures new investor
- backs 133 venture-backed companies new investor
- backs 65 venture-backed companies new investor
- Toyota Ventures new investor
- In-Q-Tel backs 97 venture-backed companies new investor
Joined the board: Steve Angel (Linde plc).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
27 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $68M, and this round was 1.5 times the median. The closest in time, other companies' Series B rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Aerospace and Defence | 17 Oct 2023 | $24M | not disclosed | Celesta Capital and Rocketship.vc |
| Sierra Space Aerospace and Defence | 26 Sep 2023 | $290M | $5.30B | MUFG Bank and Kanematsu |
| Helsing Aerospace and Defence | 14 Sep 2023 | $224M | $1.82B | General Catalyst |
| Aerospace and Defence | 11 Sep 2023 | $50M | not disclosed | ETF Partners and Trill Impact |
| True Anomaly Aerospace and Defence | 12 Dec 2023 | $100M | not disclosed | Riot Ventures |
| Aerospace and Defence | 2 Jul 2023 | $58M | not disclosed | Bpifrance and Eurazeo |
| Aerospace and Defence | 6 Jul 2023 | $33M | not disclosed | not named |
| Aerospace and Defence | 22 Jan 2024 | $29M | not disclosed | not named |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Stoke Space raise in its Series B round?
Stoke Space raised $100M in its Series B round, announced in Oct 2023.
Who led Stoke Space's Series B round?
Industrious Ventures led it, with University of Michigan, Sparta Group, Long Journey Ventures, Breakthrough Energy and Y Combinator and 5 more.
What was Stoke Space's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Aerospace and Defence?
27 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $68M, and this round was 1.5 times the median.
Did Stoke Space raise again after this round?
Yes: a Series C round in Jan 2025 of $260M.