Iceye factory. Photo: Iceye
Finnish satellite company Iceye has secured more than €1 billion in new investment and share transactions, pushing its valuation to €10.5 billion and placing it among Europe’s most valuable space and defence technology companies.
The funding package combines €450 million in new growth capital with secondary share sales worth more than €550 million. The round was led by General Atlantic and attracted a mix of international and Finnish investors, including Qatar Investment Authority, TCV, Nokia, Solidium, Tesi, Ilmarinen, Varma and Lifeline Ventures.
The deal marks one of the largest growth financing rounds ever completed by a Finnish company. It also makes Iceye only the third Finnish technology start-up to exceed a valuation of €10 billion, joining health technology company Oura and games developer Supercell.
Founded in 2014, Iceye develops and operates synthetic aperture radar satellites that capture images of the Earth's surface regardless of cloud cover, weather conditions or darkness. The technology has drawn growing interest from governments and defence organisations seeking independent intelligence capabilities.
