ICEYE
Finnish maker and operator of synthetic aperture radar satellites that sells satellite systems and radar data to governments and businesses. It announced a EUR 450 million Series F led by General Atlantic in June 2026.
Industry: Space and Earth observation | Location: Helsinki, Finland | Founded: 2014 | Total Funding: USD 520.8M
About ICEYE
ICEYE is a Finnish company that builds and operates synthetic aperture radar (SAR) satellites, which image the Earth through cloud and darkness. It sells satellite systems to governments that want to operate their own constellations, and radar data and analytics to defence, environmental monitoring, insurance and emergency management customers. Its company page lists more than 1,000 employees, and its press releases are datelined Helsinki.
According to Wikipedia, ICEYE was founded in 2014 as a spin-off from Aalto University by Rafal Modrzewski and Pekka Laurila. Modrzewski is chief executive and Laurila chief strategy officer. The company page also lists Magdalena Bartos as chief financial officer, Eric Jensen as chief operating officer and Marko Ahtisaari as chief marketing officer, and names regional chief executives including one for the United Arab Emirates.
ICEYE's offer includes sovereign missions, SAR data through tasking and an API platform, and natural catastrophe products for insurance, banking and utilities. At its June 2026 funding announcement it said seven European governments had bought sovereign satellite systems, including the Polish Armed Forces. In September 2026 Sompo Japan signed to use its Flood Insights product, and in August 2026 ICEYE set up a Netherlands entity serving the Royal Netherlands Air and Space Force. It also lists ISO/IEC 27001 and ISO 9001 certification.
Wikipedia reports a joint venture with Rheinmetall, Rheinmetall ICEYE Space Solutions. In September 2026 ICEYE signed a memorandum with Arianespace on Ariane 6 launches, and in October 2026 it announced a partnership with Nokia on secure satellite communications for governments.
On 9 June 2026 ICEYE announced a Series F of EUR 450 million in primary funding led by General Atlantic, which valued it at over EUR 10 billion. With a secondary placement the round exceeded EUR 1 billion. Investors included Solidium, Tesi, Nokia, the Qatar Investment Authority and TCV. Wikipedia reports a EUR 150 million Series E led by General Catalyst in December 2025, at a valuation of EUR 2.4 billion.
In March 2026 ICEYE reported unaudited 2025 revenue above EUR 250 million, EBITDA above EUR 100 million and a contracted backlog of EUR 1.5 billion.
Leadership
- Rafal Modrzewski, Co-founder, Chief Executive Officer and Chairman
- Pekka Laurila, Co-founder and Chief Strategy Officer
- Magdalena Bartoś, Chief Financial Officer
- Eric Jensen, Chief Operating Officer
- Marko Ahtisaari, Chief Marketing Officer
- Zach Miller, General Counsel and Corporate Secretary
- Christos Kolimenakis, Chief Executive Officer, ICEYE UAE