Satellite Startup Iceye Valuation Tops €10 Billion on New Funds

Iceye Oy quadrupled its valuation to more than €10 billion ($11.5 billion) in a General Atlantic-led funding round that will help the Finnish satellite-intelligence company expand to meet demand for sovereign technology systems.

The company raised €450 million in new funding from investors including Finnish state-owned firms Solidium and Tesi, the startup said in a statement on Tuesday. Finnish networking company Nokia Oyj and the Qatar Investment Authority also joined the round. Including a secondary placement for existing holders, the round came to €1 billion.

An illustration of an Iceye synthetic aperture radar satellite.

Source: Iceye Oy

Iceye, which provides all-weather, day-and-night Earth observation data to governments and businesses, last raised ...