Kent-based rocket company Stoke Space announced it has raised $510 million in Series D funding to accelerate production of Nova, its fully reusable medium-lift launch vehicle.

Thomas Tull’s US Innovative Technology Fund heads the investment in conjunction with a $100 million debt facility led by Silicon Valley Bank, according to an Oct. 8 Stoke press release. Stoke’s new financing more than doubles its total capital raised to $990 million.

“The news highlights Stoke’s growing role in strengthening the U.S. space industrial base and supporting resilient launch capacity for national-security and commercial missions,” according to an email from a company spokesperson.

Series D funding is a late-stage funding round, following Seed, Series A, B, and C, where a mature company that has proven

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