ICEYE
About ICEYE
ICEYE is a Spacetech startup based in Espoo, Finland that has raised $939M in venture capital across 8 funding rounds since 2014. The company reached Series E stage in August 2017 with a $13M round led by Draper Nexus. ICEYE's investor base includes 23 institutional funds, with General Catalyst leading the most recent equity round.
ICEYE designs, manufactures, and operates the world's largest constellation of synthetic aperture radar (SAR) microsatellites for persistent Earth observation. Founded in Espoo, Finland in 2014 by Rafał Modrzewski and Pekka Laurila during their time at Aalto University, the company delivers 24/7 imaging capabilities that penetrate cloud cover regardless of lighting conditions—critical for insurance claims, natural catastrophe response, maritime domain awareness, national security, and disaster management. ICEYE's constellation enables near real-time change detection and situational awareness for sovereign governments, insurers, and emergency responders across the globe. The company builds its satellites in-house and has expanded operations to Finland, Poland, Spain, Greece, the UK, and the US. With over 850 employees and more than $100M in annual revenue as of 2023, ICEYE is on a path to profitability. The company has raised approximately $603M in equity across seven rounds, reaching a $2.8B valuation at its December 2025 Series E led by General Catalyst, and secured a €300M three-year revolving credit facility in May 2026 to further accelerate its sovereign satellite intelligence platform.
ICEYE Funding Rounds Timeline
8 rounds · $939M raised · since 2014
| Round | Date | Amount | Valuation | Lead investor | Co-investors |
|---|---|---|---|---|---|
| Series A | August 2017 | $13M | — | Draper Nexus | — |
| Series B | May 2018 | $34M | — | True Ventures | Draper Nexus, Seraphim Capital |
| Series C | September 2020 | $87M | — | True Ventures | OTB Ventures, Tesi, Draper Esprit, DNX Ventures, Draper Associates, Promus Ventures, New Space Capital, European Investment Fund |
| Series D | February 2022 | $136M | — | Seraphim Space | BAE Systems, Kajima Ventures, Molten Ventures, OTB Ventures, True Ventures, Space Capital, Promus Ventures, European Investment Fund |
| Growth | April 2024 | $93M | — | Solidium | Move Capital, Blackwells Capital |
| Growth (Extension) | December 2024 | $65M | — | Solidium | — |
| Series E | December 2025 | $175M | $2.8B | General Catalyst | A.P. Moller Holding, Bpifrance, Vinci (BGK Group), RiO Family Office, Solidium, Ilmarinen, European Tech Collective, Keva, Lifeline Ventures, Tesi, Varma Mutual Pension Insurance Company, Peter Sarlin |
| Revolving Credit FacilityDebt | May 2026 | $336M | — | — | Citi, Danske Bank |
Investors in ICEYE
23 institutional investors across 8 rounds
Lead investors
Co-investors
Recent news about ICEYE
Questions about ICEYE
How much has ICEYE raised?
ICEYE has raised $939M across 8 funding rounds since 2014.
Who are the investors of ICEYE?
ICEYE's investors include General Catalyst, Seraphim Space, True Ventures, Solidium, Draper Nexus, Molten Ventures, OTB Ventures, Lifeline Ventures, Bpifrance, Ilmarinen, Tesi, BAE Systems, A.P. Moller Holding, Space Capital, Draper Associates, Vinci (BGK Group), RiO Family Office, European Tech Collective, Keva, Varma Mutual Pension Insurance Company, New Space Capital, Citi, Danske Bank.
When was ICEYE's last funding round?
ICEYE's most recent round was a $13M Series A in August 2017, led by Draper Nexus.
What is ICEYE's valuation?
ICEYE reached a $2.8B valuation (unicorn status) with its Series A round in August 2017.
Where is ICEYE headquartered?
ICEYE is headquartered in Espoo, Finland, and was founded in 2014 by Rafał Modrzewski, Pekka Laurila.