A Bill Gates-Backed 'Breakthrough' Initiative Raised $65 Million for Reusable Rockets
The world may soon have another space baron.
Bill Gates' multibillion-dollar clean-tech initiative Breakthrough Energy Ventures has completed a $65 million funding round for the reusable rocket developer called Stoke Space, according to a Wednesday press release.
So don't look away, because you might miss the makings of humanity's future.
Bill Gates may join the ranks of billionaire space barons
The Series A funding round involved several new investors, including Spark Capital, Point72 Ventures, Toyota Ventures, Alameda Research, and Global Founders Capital, in addition to existing investors like NFX, MaC Ventures, Alexis Ohanian’s Seven Seven Six, and Joe Montana’s Liquid2.
Second-stage flight tests could begin late in 2022
Stoke previously announced that it had raised $9.1 million in seed funding and research revenue from NASA and the National Science Foundation in February. The company has completed the manufacturing demonstration of a full-scale second-stage rocket, and conducted full-power test firings of its second-stage engine, nicknamed "the three-pack", because it features triplet thrust chambers. “Everything we do is with long-term sustainability and scalability in mind. If we’re going to continue to scale our civilization, space is going to be one of the necessary and major pillars that supports that growth. When we surveyed our nascent industry, we didn’t see anybody working on the solutions that represent its inevitable end-state," said Andy Lapsa, CEO and co-founder of Stoke, in the release. "We’ve already demonstrated many of the core elements of the technology using a small and elite team, and we’re excited to ramp up development with this new funding".
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