ICEYE raises over €1 billion at a valuation exceeding €10 billion

ICEYE has raised more than €1 billion in a funding round that values the company at over €10 billion.

The transaction includes a €450 million ($520 million) primary Series F round led by General Atlantic, alongside a secondary placement. New and existing investors participating in the financing include Solidium, Tesi, Varma, Ilmarinen, Lifeline Ventures, Nokia, Qatar Investment Authority, and TCV.

The proceeds will support the expansion of its global footprint and intelligence capabilities as demand grows for sovereign satellite systems. To date, seven European governments have procured sovereign satellite systems from the company.

The company operates what it describes as the world’s largest synthetic aperture radar (SAR) satellite constellation, serving customers in defense and intelligence, environmental monitoring, insurance, and emergency management.

According to ICEYE, the company generated more than €250 million in revenue and over €100 million in EBITDA in 2025, while building a contracted backlog exceeding €1.5 billion. The company plans to increase annual satellite production from 50 units today to 100 by 2028.

ICEYE recently delivered a sovereign space system to the Polish Armed Forces within 12 months of contract signing, and said it is replicating the model across Europe, the Middle East, and Asia.

For the insurance industry, ICEYE provides satellite-based data and analytics used in catastrophe response and claims management, including solutions focused on flood, wildfire, and hurricane events.