Iceye Raises $34M in Series B Financing

Iceye, a Helsinki, Finland-based earth observation company providing synthetic-aperture radar (SAR) data, raised $34M in Series B funding.

The round was led by return investor True Ventures with participation from OTB, Tesi, Draper Esprit, Promus Ventures, True Ventures, Draper Nexus, Draper Associates, Seraphim Capital and Space Angels.

The company, which has raised a total of $53M, will use the new capital to expand its custom analytics services for its customer base, further develop its SAR satellite technology, as well as fund additional launches of ICEYE SAR satellites.

Led by Rafal Modrzewski, CEO and Co-founder, Iceye provides a radar satellite imaging service, with coverage of selected areas every few hours, both day and night, to allow clients to resolve challenges in sectors such as maritime, disaster management, insurance, finance, security and intelligence.
Following the January 2018 launch of ICEYE-X1, the company is launching two additional satellites this year. It is aiming for a total of 9 upcoming satellite launches by the end of 2019.



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