ICEYE Factory is part of the company’s expanding industrial and production ecosystem supporting its satellite manufacturing capabilities.
The investment round also saw participation from a broad group of strategic and financial investors, including Solidium, Tesi, Varma, Ilmarinen, Lifeline Ventures, Nokia, Qatar Investment Authority (QIA), and TCV. The diverse investor base reflects increasing global recognition of the importance of sovereign and commercial space-based intelligence for national security and resilience.
The company stated that seven governments across Europe have already procured sovereign satellite systems from ICEYE, establishing it as a leading provider of space-based intelligence infrastructure for state-level operations.
Proceeds from the funding will be directed toward expanding ICEYE’s global presence and enhancing its intelligence capabilities to meet rising demand from government and commercial customers. The company aims to scale delivery of sovereign intelligence systems and data services at an unprecedented level.
ICEYE Co-Founder and Chief Executive Officer Rafal Modrzewski stated that the calibre of investors reflects a shared belief in a new era of sovereign intelligence from space. He emphasized that ICEYE has developed advanced operational capabilities to meet global demand and will use the funding to accelerate deployment of new technologies and services to governments and customers worldwide.
Sascha Günther, Managing Director and Head of DACH, and Co-Head of EMEA Technology at General Atlantic, said ICEYE has redefined Earth observation through next-generation agile satellite fleets that deliver higher strategic capability with improved cost efficiency. He noted that the company operates the world’s largest and most advanced synthetic aperture radar constellation on a vertically integrated platform and is transitioning breakthrough technology into large-scale commercial and operational success.
Nokia has joined the funding round as a new strategic investor. Nokia President and Chief Executive Officer Justin Hotard stated that modern defense systems increasingly depend on the integration of trusted connectivity and real-time situational awareness. He highlighted that collaboration between Nokia and ICEYE can strengthen defense, resilience, and technological sovereignty, particularly in Europe.
The Series F round follows a period of significant growth for ICEYE. In 2025, the company reported crossing €250 million in revenue and more than €100 million in EBITDA, while building a contracted backlog exceeding €1.5 billion. Production capacity is also expanding rapidly, with annual satellite manufacturing expected to increase from 50 units per year to 100 units by 2028 and beyond, supported by corresponding launch capacity.
ICEYE recently delivered a fully operational sovereign space system to the Polish Armed Forces within 12 months of contract signing, marking one of the fastest sovereign space deployments recorded. The company noted that similar deployments are now being replicated across Europe, the Middle East, and Asia, with accelerating demand.
Founded in Finland and operating globally with more than 1,000 employees, ICEYE specializes in continuous Earth monitoring using synthetic aperture radar satellite technology. It operates the world’s largest and most advanced SAR satellite constellation, providing intelligence capabilities regardless of weather or lighting conditions. The company serves government, defense, environmental monitoring, insurance, and emergency management sectors.
General Atlantic, the lead investor, is a global growth equity firm with more than four decades of investment experience. The firm has supported over 885 companies historically and manages approximately USD 126 billion in assets under management as of March 31, 2026, with a global workforce spanning multiple regions and sectors.
The transaction remains subject to customary closing conditions and regulatory approvals.
The funding marks a significant milestone in ICEYE’s expansion strategy as it strengthens its position in the global sovereign intelligence ecosystem and accelerates large-scale satellite deployment and data capabilities worldwide.
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