On Friday, 5 December 2025, the Polish-Finnish company ICEYE, specializing in the design and production of Earth-observation systems based on satellites equipped with synthetic aperture radar (SAR), announced that it is securing new funding led by the General Catalyst fund, with broad participation from investors across Europe. These resources will enable ICEYE to accelerate the delivery of sovereign reconnaissance satellite systems and data-analysis-based services.
Photo: ICEYE
“ICEYE’s SAR technology has become one of the key strategic and operational tools for governments and institutions around the world. Our team has repeatedly proven that we can turn advanced SAR technology into concrete results for clients who need answers in minutes, not days. This financing will allow us to strengthen that commitment even further by investing in the expansion of our world-leading SAR satellite constellation, the development of next-generation observation solutions, and data-analysis services that help governments and organizations better manage risk and respond faster. For European countries and their allies, this means greater control over the acquisition of space-based intelligence and cooperation with a partner capable of delivering solutions at industrial scale,” said Rafał Modrzewski, CEO and co-founder of ICEYE.
“Europe’s security begins with sovereign capabilities in space. ICEYE provides such capabilities, operating the world’s largest constellation of SAR radar satellites, programmable satellites, and the ability to conduct fully sovereign missions, thereby restoring Europe’s independent access to observational data. With on-demand satellite imagery, ministries and intelligence services can protect borders more effectively, and countries seeking full independence in reconnaissance can conduct their own complete satellite missions. This is why we view ICEYE as an emerging global leader in the space sector.”
ICEYE is raising 150 million EUR (634.65 million PLN) in new capital and an additional 50 million EUR (211.55 million PLN) through the sale of existing shares, valuing the company at 2.4 billion EUR / 2.8 billion EUR (10.15 billion PLN). The Series E funding round is led by General Catalyst, with strong participation from investors across Europe, including A.P. Moller Holding (Denmark), Bpifrance (France), Vinci (BGK Group) and RiO Family Office (Poland), as well as Finnish investors: Solidium, Ilmarinen, European Tech Collective, Keva, Lifeline Ventures, Tesi, Varma Mutual Pension Insurance Company, and Peter Sarlin (BGK Group invests in ICEYE).
The new capital strengthens ICEYE’s existing growth momentum and enables further expansion of its SAR satellite constellation, faster deployment of sovereign satellite missions for customers, and the development of advanced Earth-observation and data-analysis solutions.
Sovereign satellite reconnaissance capabilities at an unprecedented pace and scale
With the world’s largest constellation of satellites equipped with synthetic aperture radar (SAR), ICEYE provides objective, near-instant insight into changes occurring on Earth — around the clock, in all weather conditions. SAR technology uses radar pulses that penetrate clouds, smoke and darkness, delivering uninterrupted imaging of the Earth and supporting rapid response across defence and intelligence, security, maritime monitoring, crisis management and post-disaster recovery, as well as in the insurance and financial sectors.
ICEYE is accelerating the transition to the era of programmable satellites thanks to its fourth-generation platform, which delivers the world’s most precise commercial SAR imagery, with a resolution reaching 16 cm. The ICEYE platform is designed so that new capabilities can be introduced through software updates from the ground, rather than replacing hardware onboard the satellites.
ICEYE has a proven track record in building sovereign systems for European nations and their allies. The company has signed agreements with the Polish Armed Forces, the Portuguese Air Force, the Royal Netherlands Air Force, the Greek National Space Program, and the Finnish Defence Forces, as well as a separate agreement to supply SAR data to NATO’s Allied Command Operations.
To date, ICEYE has placed 62 satellites in orbit, and starting next year it plans to reach an average production rate of one satellite per week, enabling it to provide customers worldwide with sovereign space-based capabilities at a pace and scale never seen before.
Press release