Home / Business and Economy / Stoke Space Aims for $1B to Overtake SpaceX
Stoke Space Aims for $1B to Overtake SpaceX
13 Aug
Summary
- Stoke Space seeks $1 billion in new funding.
- The company aims to develop a fully reusable rocket.
- Funding values Stoke Space at approximately $9 billion.
Stoke Space Technologies Inc. is reportedly in the process of raising $1 billion. This substantial capital infusion is intended to expedite the development and manufacturing of a fully reusable rocket system. The company's objective is to directly compete with and potentially surpass the achievements of Elon Musk's SpaceX.
Discussions indicate that Stoke Space is being valued at approximately $9 billion, a figure that does not include the new funds being sought. This valuation underscores the significant private investment and confidence in the startup's potential to disrupt the aerospace sector with its reusable launch technology.
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