Funding
Papandrew shared that while much can be done in space , they are in a “ capitally intensive business ; we must be able to demonstrate to investors that they will be successful .” Hennig said that government funding allows them to do research and development , a big part of technology development .
The company received hefty funding in 2021 , as reported in this press release by Breakthrough Energy Ventures , one of the major investors , “ The Series A funding round was led by Breakthrough Energy Ventures and included new investors Spark Capital , Ventures , Toyota Ventures , Alameda Research , and Global Founders Capital . Existing investors NFX , MaC Ventures , Alexis Ohanian ’ s Seven Seven Six , Joe Montana ’ s Liquid 2 Ventures , and others also participated . Stoke raised a $ 9.1 million Series Seed one year ago , and the new round is among the largest pure Series A investments ever for a space company .”
In total , they have raised over $ 100 million . Hennig said that Breakthrough Energy Ventures was “ very excited about our sustainable approach , which is low impact for the environment .”
Fuels
Sustainable fuel is another factor in the proposed success of Stoke . Most rockets use kerosene , which creates black carbon soot upon launch . According to the company , they are doing it differently .
“ Stoke ’ s high-efficiency rocket engines eliminate these damaging emissions , resulting in a solution with the lowest environmental impact of any existing or proposed rocket .
APRIL | MAY 2023 ISSUE NO . 32 13