Aidan Daly
ICEYE has signed a definitive agreement for an oversubscribed $93 million growth funding round, bringing the company’s total amount raised to $438 million.
The microsatellite manufacturer and synthetic aperture radar satellite operator said Wednesday that the fresh funds will accelerate investment in its constellation of SAR satellites and expand its product portfolio.
Finnish state-owned investment company Solidium Oy led the investors’ group. Rafal Modrzewski, CEO and co-founder of ICEYE, said, “As a Finnish heritage company headquartered in Finland, we welcome our newest investor and board member, Solidium.”
Move Capital Fund I, Blackwells Capital, Christo Georgiev, and existing investors joined the Finnish sovereign wealth fund in the funding round. According to Solidium CEO Reima Rytsola, the investment in ICEYE fits perfectly with his organization’s updated strategy.
