ICEYE Secures EUR 150 Million Funding to Boost Space-Based Intelligence in Europe
Helsinki: ICEYE, the world leader in synthetic aperture radar (SAR) satellite systems, has secured EUR 150 million in new funding, led by General Catalyst, to accelerate its delivery of sovereign satellite systems and data intelligence services.
The funding will enable ICEYE to deepen its commitment to providing governments and institutions with rapid and accurate space-based intelligence. Rafal Modrzewski, Co-Founder & CEO of ICEYE, said, “ICEYE’s SAR technology has become a core strategic and tactical tool for governments and institutions worldwide.”
Jeannette zu Fürstenberg, Managing Director and Head of Europe at General Catalyst, praised ICEYE’s capabilities, stating, “ICEYE enables Europe’s security starts with sovereign space capability… Ministries and intelligence agencies can secure borders via on-demand imagery, while nations seeking full control can deploy their own turnkey satellite missions.”
The funding round values ICEYE at EUR 2.4 billion (USD 2.8 billion) and includes participation from prominent European investors. ICEYE plans to use the capital to expand its SAR constellation, next-generation sensing capabilities, and data intelligence services.
With 62 satellites launched, ICEYE aims to scale up to an average production rate of one satellite per week, deploying sovereign space capability for allied nations at unprecedented speed and scale. The company’s SAR technology provides objective, near real-time insights, supporting rapid response for defense, intelligence, security, disaster recovery, and more.
