Iceye Raises USD136M in Series D Funding

Credit: ICEYE

Iceye, a Helsinki, Finland-based SAR data provider and expert in NatCat solutions, closed a $136M Series D funding.

The round was led by Seraphim Space with participation from BAE Systems, Kajima Ventures, Molten Ventures, OTB Ventures, True Ventures, C16 Ventures, Chione Ltd, Services Group of America, the UK’s National Security Strategic Investment Fund (NSSIF), Space Capital and Promus Ventures. In conjunction with OTB Ventures, the European Investment Fund (EIF) participated as an investor through the InnovFin For Equity (IFE) program, which is backed by the European Commission.

The company intends to use the funds to accelerate the continued expansion of its synthetic aperture radar (SAR) satellite constellation, and grow its Natural Catastrophe (NatCat) Insights and Solutions offering.

Led by Rafal Modrzewski, CEO and Co-founder, Iceye designs, manufactures, and operates its SAR satellites in-house, with manufacturing timelines brought down to a few months for its spacecraft. On January 13, 2022, the company launched two SAR satellites from Cape Canaveral, Florida.

Iceye has launched 16 satellite missions in total since its spacecraft was placed into orbit only four years ago.