ICEYE, a synthetic aperture radar (SAR) satellite systems company, has secured new financing to accelerate the delivery of sovereign satellite systems and data intelligence services for European nations and allies.
The company said the investment will support the expansion of its SAR constellation, the development of next-generation sensing capabilities, and the growth of data intelligence services to help governments and organizations manage risk and respond more quickly.
ICEYE said it has raised EUR 150 million in new funding alongside a EUR 50 million secondary placement, valuing the company at EUR 2.4 billion (about USD 2.8 billion). The Series E round drew broad pan-European participation, including investors from Denmark, France, Poland, and Finland.
The company positioned the raise as part of a broader push to expand sovereign space capability across Europe. ICEYE said its SAR satellites provide near-real-time insights day or night and in any weather, with radar imagery that can see through clouds, smoke, and darkness. The company also highlighted its move toward software-defined satellites via its fourth-generation platform, which it said can deliver commercial SAR imagery with up to 16 cm resolution and enable new capabilities through ground-based software updates rather than hardware refresh cycles.
ICEYE also pointed to recent and ongoing work with European defense and security stakeholders. The company said it has signed agreements with the Polish Armed Forces, Portuguese Air Force, Royal Netherlands Air Force, the Greek National Space Program, and Finnish Defence Forces, and separately signed a SAR data agreement with NATO Allied Command Operations.
Looking ahead, ICEYE said it has launched 62 satellites to date and plans to scale manufacturing to an average production rate of one satellite per week starting next year, with the goal of deploying sovereign missions for allied nations at greater speed and scale.
KEY QUOTES:
“ICEYE’s SAR technology has become a core strategic and tactical tool for governments and institutions worldwide. Our team has a strong track record of turning advanced SAR technology into concrete results for customers who need answers in minutes, not days. This funding enables us to deepen that commitment by investing in the expansion of our world-leading SAR constellation, next-generation sensing capabilities, and data intelligence services that help governments and organizations manage risk and respond faster. For European nations and allies, that means greater control over their own space-based intelligence – and a partner capable of delivering at industrial scale.”
Rafal Modrzewski, Co-Founder & CEO, ICEYE
“Europe’s security starts with sovereign space capability. ICEYE enables that, with the world’s largest SAR constellation, software-defined satellites, and fully sovereign missions that put independent visibility back in Europe’s hands. Ministries and intelligence agencies can secure borders via on-demand imagery, while nations seeking full control can deploy their own turnkey satellite missions. That’s why we see ICEYE as a rising global space prime.”
Jeannette zu Fürstenberg, Managing Director And Head Of Europe, General Catalyst
