Iceye, an Espoo, Finland-based developer of a satellite-based information service, raised $2.8m in Series A funding.
The round was led by True Ventures, with participation from Lifeline Ventures and Founder.org.
In September, the company also secured €2.5m in R&D funding from SME Instrument within EU Horizon 2020.
Led by CEO Rafal Modrzewski and Pekka Laurila, Iceye provides quick-response imagery from space with microsatellites equipped with imaging radar technology. The instrument can see through clouds, obscuring weather, and in the dark-all conditions that limit camera-based services in situations where waiting for daylight and nice weather is not an option.
The company’s imaging radar instrument allows the company to supply near-real-time imagery globally, with groups of small satellites. With the radar instrument, the satellites can acquire images regardless of weather or daylight conditions, so the information will be available even in situations where camera-based satellites cannot see the target. This source is needed by industries such as logistics, insurance, and energy, as well as organizations monitoring climate and environment, or providing search and rescue services.