Finnish satellite startup Iceye has raised €1bn in Series F funding valuing the company at around €10bn; €450m of the round is new funding, with the remainder coming from secondaries. The round was led by General Atlantic.
The startup makes and operates microSAR satellites (synthetic-aperture radar), selling imaging data. Iceye last raised €200m in December at a €2.4bn valuation; that round also included €50m in secondaries.
Other investors include Tesi, Lifeline Ventures, Nokia, Qatar Investment Authority and TCV.
"Sovereign intelligence from space is entering a new era and the window to build it is now," said cofounder and CEO Rafal Modrzewski. "This funding enables us to accelerate the delivery of new capabilities to governments and customers faster than ever before."
The company said that seven European governments have procured its technology. It also said that it made over €250m in revenue and more than €100m in EBITDA in 2025; the company said it was doubling production from 50 satellites per year to a target of 100 by 2028. Iceye has also long teased an IPO.
The raise comes as investors are increasingly bullish on backing space technologies. Also on Tuesday, German rocket developer Isar Aerospace announced a €270m Series D round as it aims to launch its second rocket.
Sifted also recently reported that Bulgarian satellite startup EnduroSat has been in talks for a new round which could be around $200m.
