A rendering of imaging satellites operated by Finland’s Iceye. Credit: Iceye
HOUSTON — Iceye, a Finnish company that develops and operates radar imaging satellites, has raised more than 1 billion euros ($1.16 billion) in a funding round that values the company at more than 10 billion euros.
Iceye announced June 9 it raised 450 million euros in a Series F round led by investment firm General Atlantic, with participation from Solidium, Tesi, Varma, Ilmarinen, Lifeline Ventures, Nokia, Qatar Investment Authority and TCV. A secondary placement brought the total value of the round to more than 1 billion euros.
Helsinki-based Iceye has developed a constellation of synthetic aperture radar, or SAR, imaging satellites. Its business includes selling satellites and access to the constellation to governments.
One example is MikroSAR, a SAR satellite system it built for Poland’s armed forces. Under a May 2025 contract worth 200 million euros, Iceye built and launched four satellites dedicated to that system within one year.
