Espoo, Finland-based ICEYE, a microsatellite producer and operator, introduced on Wednesday that it has secured $65M (roughly €62M) in extension to the prevailing development spherical. The financing consists of a mixture of debt and fairness devices.
The announcement comes eight months after the corporate raised $93M (roughly €87M) in funding in April.
The funding spherical extension included participation from funds managed by Solidium Oy, BlackRock, Seraphim, Plio Restricted, and Christo Georgiev.
The extension brings the whole quantity raised in 2024 to $158M (roughly €151M). In complete, ICEYE has raised over $500M (roughly €480M) to this point.
The corporate will use the funds to additional develop its SAR satellite tv for pc constellation, its intelligence, surveillance, and reconnaissance (ISR) platform, and associated methods.
Susan Repo, CFO at ICEYE, says, “ICEYE has skilled unwavering momentum over the previous few years. This extension of our development funding spherical additional bolsters ICEYE’s funding in its capabilities and allows us to reply even higher to the rising demand for space-based know-how within the international defence and ISR markets.”
ICEYE: Operates the world’s largest artificial aperture radar (SAR)
Based in 2015 by Pekka Laurila and Rafal Modrzewski, ICEYE is a high-growth know-how firm designing, manufacturing, and promoting SAR-satellites and offering imaging knowledge, analytics, and options primarily based on their very own satellite tv for pc constellation.
As well as, the corporate is growing novel applied sciences and options revolving round offering their prospects with a large functionality for close to real-time imaging and evaluation.
This permits entry to actionable knowledge day or evening, even in difficult environmental situations, supporting vital functions like environmental monitoring and catastrophe response.
The corporate companions with governments and industrial industries, offering intelligence in sectors comparable to insurance coverage, pure disaster response and restoration, safety, maritime monitoring, and finance.
The Finnish firm operates internationally with places of work in Finland, Poland, Spain, the UK, Australia, Japan, UAE, Greece, and the US.
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