Espoo, Finland-based ICEYE, a microsatellite manufacturer and operator, announced on Wednesday that it has secured $65M (approximately €62M) in extension to the existing growth round. The financing consists of a mix of debt and equity instruments.
The announcement comes eight months after the company raised $93M (approximately €87M) in funding in April.
The funding round extension included participation from funds managed by Solidium Oy, BlackRock, Seraphim, Plio Limited, and Christo Georgiev.
The extension brings the total amount raised in 2024 to $158M (approximately €151M). In total, ICEYE has raised over $500M (approximately €480M) to date.
The company will use the funds to further develop its SAR satellite constellation, its intelligence, surveillance, and reconnaissance (ISR) platform, and related systems.
Susan Repo, CFO at ICEYE, says, “ICEYE has experienced unwavering momentum over the past few years. This extension of our growth funding round further bolsters ICEYE’s investment in its capabilities and enables us to respond even better to the growing demand for space-based technology in the global defence and ISR markets.”
ICEYE: Operates the world’s largest synthetic aperture radar (SAR)
Founded in 2015 by Pekka Laurila and Rafal Modrzewski, ICEYE is a high-growth technology company designing, manufacturing, and selling SAR-satellites and providing imaging data, analytics, and solutions based on their own satellite constellation.
In addition, the company is developing novel technologies and solutions revolving around providing their customers with a wide capability for near real-time imaging and analysis.
This allows access to actionable data day or night, even in challenging environmental conditions, supporting critical applications like environmental monitoring and disaster response.
The company partners with governments and commercial industries, providing intelligence in sectors such as insurance, natural catastrophe response and recovery, security, maritime monitoring, and finance.
The Finnish company operates internationally with offices in Finland, Poland, Spain, the UK, Australia, Japan, UAE, Greece, and the US.
We have more than 700 employees, inspired by the shared vision of improving life on Earth by becoming the global source of truth in Earth Observation.
01
From port to startup fort: How Lars Crama is ‘Making it Happen’ in Rotterdam