Jane Edwards
ICEYE, a synthetic aperture radar satellite operator, has raised $136 million in a round of Series D financing and will use the capital to further develop its SAR satellite constellation and build up its analytics services.
Seraphim Space led the funding round, which brings ICEYE’s total financing to $304 million and saw the participation of several investors, including BAE Systems, Kajima Ventures, Molten Ventures, Services Group of America, OTB Ventures, Space Capital, True Ventures, C16 Ventures, Chione, Promus Ventures and the U.K.’s National Security Strategic Investment Fund, ICEYE said Thursday.
Rafal Modrzewski, CEO and co-founder of ICEYE, said the company will use the funds to further expand its operations and develop its Natural Catastrophe Insight product offerings.
ICEYE’s SAR satellite network provides imagery to enable customers rapidly detect changes on the Earth’s surface for use in climate change monitoring, humanitarian relief, national security and natural catastrophe response and recovery efforts, among other applications. The company has performed 12 satellite launches.
Morgan Stanley acted as placement agent in the transaction.
