ICEYE secures $65 million extension

ICEYE has closed a $65 million extension to its growth funding round, bringing its total raised in 2024 to $158 million. The round included participation from Solidium Oy, BlackRock, Seraphim, Plio Limited, and Christo Georgiev, using a mix of debt and equity financing.

The funds will support ICEYE’s continued development of its synthetic aperture radar (SAR) satellite constellation and its intelligence, surveillance, and reconnaissance (ISR) systems. These advancements aim to enhance the company’s capabilities in Earth observation and natural catastrophe solutions. ICEYE has raised over $500 million since its founding in 2014.

ICEYE specializes in SAR technology, providing high-resolution Earth observation data for persistent monitoring and disaster management. The company serves clients such as Swiss Re, Juniper Re, and Insurity, offering near real-time insights to support risk assessment, disaster response, and insurance solutions.

“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.” – Susan Repo, CFO at ICEYE.

“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.” – Reima Rytsölä, CEO at Solidium.