Many more reusable rockets might be coming soon to space.
What’s happening:
- Washington based rocket startup Stoke Space has raised $100M to build reusable rockets
- Stoke Space’s flagship rocket is known as Nova which aims to be fully reusable and capable of flying daily
The big idea:
- Most rockets being designed for space orbit have limited reusability and are built for a small number of total trips
- Rockets put an enormous amount of stress on their materials during space travel which is why it’s difficult to build hardware that is reusable
- Nova is building leading edge technology around their engine design which is highly resilient to damage and built to be able to return to the original launch site
Why it matters:
- The new $100M round was filled with notable investors including Bill Gates’s Breakthrough Energy Ventures, Y Combinator, Point72 Ventures, Toyota Ventures, The University of Michigan and others
- Funding for space startups is seen by many as a critical area of innovation of building the future
The intrigue:
- Steve Angel, who is the former leader of chemical company Linde (NYSE: LIN), will join the board of Stoke
- Steve Angel also currently is on the board of General Electric (NYSE: USD)
