Iceye secures 1 billion euro

Finnish satellite company Iceye has raised 450 million euro in a funding round led by General Atlantic - a US based investment company.

Additional investors include Finland's Solidium, Tesi, Varma, Ilmarinen, Lifeline Ventures and Nokia, alongside Qatar Investment Authority and TCV.

Including a secondary share sale, the total funding round exceeds 1 billion euro, according to Iceye.

Rafal Modrzewski, co-founder and chief executive of Iceye, said the investor group reflects a shared conviction in the growing importance of sovereign space-based intelligence.

- Sovereign intelligence from space is entering a new era and the window to build it is now. Iceye has built the world's most advanced, proven capability to meet that demand. This funding enables us to accelerate the delivery of new capabilities to governments and customers faster than ever before, Modrzewski said.

The breadth of the investor group highlights growing recognition that sovereign and commercial access to space-based intelligence is becoming increasingly important to national security and resilience.

Seven European governments have procured sovereign satellite systems from Iceye to date. Proceeds from the funding round will support the expansion of the company's global footprint and the further development of its intelligence capabilities.

Iceye aims to strengthen its ability to deliver sovereign intelligence systems and data to governments and commercial customers as demand continues to grow.

Nokia is participating in the funding round as a new strategic investor. Justin Hotard, Nokia's president and chief executive, said modern defence increasingly depends on combining trusted connectivity with real-time visibility.

- Nokia and Iceye bring complementary strengths that can help advance Europe's defence, resilience and technological sovereignty, Hotard said.

The funding follows a period of strong growth for Iceye.

In 2025, the company surpassed 250 million euro in revenue and 100 million euro in EBITDA while building a contracted backlog worth more than 1.5 billion euro.

Iceye is also expanding production capacity, with annual output expected to increase from 50 satellites today to 100 by 2028 and beyond, supported by a corresponding increase in launch activity.