Funding

ICEYE funding news – Finland-based ICEYE has Raised $65M in Extension to Existing Growth Funding

Dec 20, 2024 | By Kailee Rainse

ICEYE funding news - Finland-based ICEYE has Raised $65M in Extension to Existing Growth Funding

ICEYE, the global leader in synthetic aperture radar (SAR) satellite operations for high-fidelity Earth Observation, persistent monitoring, and natural catastrophe solutions, announced that it has closed a $65M extension of the company’s earlier growth funding round of $93M, announced in April 2024.

SUMMARY

  • ICEYE, the global leader in synthetic aperture radar (SAR) satellite operations for high-fidelity Earth Observation, persistent monitoring, and natural catastrophe solutions, announced that it has closed a $65M extension of the company’s earlier growth funding round of $93M, announced in April 2024.
  • ICEYE delivers unparalleled persistent monitoring capabilities to detect and respond to changes in any location on Earth, faster and more accurately than ever before.

The funding round extension included participation from funds managed by Solidium Oy, BlackRock, Seraphim, Plio Limited, and Christo Georgiev. The financing consists of a mix of debt and equity instruments and will increase investment in further developing it’s leading SAR satellite constellation, its intelligence, surveillance, and reconnaissance (ISR) platform, and related systems. The extension brings the total amount raised in 2024 to $158M. In total, ICEYE has raised over $500M to date.

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It has achieved considerable growth during the past years and the investment announced today enables it to continue expanding its ISR capabilities to serve a global customer base while further cementing its market-leading position in the new space ecosystem.

Susan Repo, CFO at ICEYE, said, “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 defense and ISR markets.”

Reima Rytsölä, CEO at Solidium, said: “Extending the growth funding to support ICEYE growth is well in line with our investment strategy. Our view is that ICEYE continues to have strong potential to grow to a nationally significant company and foster a completely new technology cluster in Finland.”

About ICEYE

ICEYE delivers unparalleled persistent monitoring capabilities to detect and respond to changes in any location on Earth, faster and more accurately than ever before.

Owning the world's largest synthetic aperture radar (SAR) satellite constellation, it provides objective, near real-time insights, ensuring that customers have unmatched access to actionable data, day or night, even in challenging environmental conditions.

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