ICEYE tops $500m for radar satellites
Finnish radar satellite developer ICEYE has closed a $65m extension of the company’s earlier growth funding round of $93m
The funding round extension included participation from funds managed by Solidium Oy, BlackRock, Seraphim, Plio Limited, and Christo Georgiev and brings the total amount raised in 2024 to $158m. In total, ICEYE has raised over $500m to date.
The financing consists of a mix of debt and equity instruments and will increase investment in further developing ICEYE’s leading SAR satellite constellation, its intelligence, surveillance, and reconnaissance (ISR) platform, and related systems.
“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,” said Reima Rytsölä, CEO at Solidium.
ICEYE operates internationally with offices in Finland, Poland, Spain, the UK, Australia, Japan, UAE, Greece, and the US with over 700 staff.
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