Startup Flash Report

STARTUP FLASH - October 12, 2025

Stoke Space Secures $510M to Accelerate Reusable Rocket Development

TOP 3 STORIES:
1. Stoke Space lands $510 million in new funding to fast-track its fully reusable Nova rocket, signaling deep investor confidence in next-generation space tech. This massive round positions Stoke Space as a formidable competitor in the commercial launch market, offering founders in aerospace and deep tech a clear signal that capital is available for ambitious, high-risk innovation[6].

2. Spellbook, the AI-powered legal contract review platform, raises $50 million Series B led by Khosla Ventures, reaching a $350 million valuation. The round highlights the growing appetite for vertical AI solutions in professional services, encouraging founders to pursue specialized AI applications with clear enterprise value and integration potential[4].

3. Vercel announces a $300 million Series F, reinforcing its dominance in developer tools and cloud infrastructure. This late-stage funding round demonstrates sustained investor interest in platforms that enable rapid software deployment, suggesting that infrastructure and productivity startups with strong developer adoption can still command premium valuations[2].

Flash Insight:
Investor appetite for large, transformative bets remains robust, with deep tech and AI verticals attracting outsized rounds even amid broader market volatility. The surge in funding for reusable rockets, legal AI, and developer infrastructure underscores a shift toward platforms that promise both scalability and defensibility. For founders, the current environment rewards bold technical vision and clear paths to enterprise adoption, while late-stage capital continues to flow to category leaders.

---

Sources:

[1] Stoke Space raises $510M to speed up work on reusable rocket
https://www.geekwire.com/2025/stoke-space-510m-nova-rocket/

[2] Vercel raises $300M Series F
https://www.seedtable.com/funding-rounds/recent

[3] Spellbook raises US$50 million Series B led by Khosla Ventures
https://sophiccapital.com/october-12-2025-there-will-be-volatility/