ICEYE raises EUR 150 million to expand European SAR intelligence capacity

ICEYE raises EUR 150 million to expand European SAR intelligence capacity

ICEYE has raised EUR 150 million in new funding led by General Catalyst, alongside a EUR 50 million secondary placement, valuing the company at EUR 2.4 billion or about USD 2.8 billion. The company plans to use the capital to speed delivery of sovereign synthetic aperture radar satellite systems and data intelligence services for government and institutional customers in Europe and allied nations.

ICEYE operates the world's largest synthetic aperture radar satellite constellation and supplies near real-time monitoring to detect and assess change on Earth for defense, intelligence, security, disaster response, insurance, maritime monitoring, and financial clients. SAR satellites use radar pulses that penetrate cloud