AUCKLAND, New Zealand — Stoke Space, a company developing a fully reusable launch vehicle, has raised $510 million to fund operations through its first launches, bringing its total capital raised to nearly $1 billion.

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Jeff Foust writes about space policy, commercial space, and related topics for SpaceNews. He earned a Ph.D. in planetary sciences from the Massachusetts Institute of Technology and a bachelor’s degree with honors in geophysics and planetary science...