ICEYE, the Finnish-Polish unicorn and leader in synthetic aperture radar (SAR) satellite technology, has announced a $65 million extension to its growth funding round, bringing its total raised in 2024 to $158 million. This latest funding builds on an earlier $93 million secured in April 2024, with contributions from prominent investors including Solidium Oy, BlackRock, Seraphim, Plio Limited, and Christo Georgiev.

The funding, comprising a mix of debt and equity, will be used to further develop ICEYE's advanced SAR satellite constellation and enhance its intelligence, surveillance, and reconnaissance (ISR) capabilities. These technologies enable high-fidelity Earth observation, persistent monitoring, and innovative natural catastrophe solutions, cementing ICEYE's position as a global leader in the new space ecosystem.

To date, ICEYE has raised over $500 million, fueling its rapid growth and expanding its capabilities to meet increasing demand in global defense and ISR markets.

Susan Repo, CFO of ICEYE, stated, “This funding extension allows us to accelerate investments in our SAR technology and respond to growing demand for space-based solutions, particularly in the defense and ISR sectors.”

Reima Rytsölä, CEO of Solidium, added, “Supporting ICEYE’s growth aligns with our investment strategy, and we see significant potential for the company to become a cornerstone of Finland’s emerging space technology cluster.”

With Citigroup serving as the exclusive private placement agent, ICEYE continues to solidify its market dominance, driving innovation in the global satellite and ISR industries.