Iceye, a Finnish satellite developer with a number of defense contracts, has raised money at a €2.4 billion ($2.8 billion) valuation, capitalizing on the military spending boom across Europe.
Venture firm General Catalyst led the financing round, which included €150 million in new equity and €50 million in a secondary sale for early investors, Iceye announced on Friday.
Rafal Modrzewski, Iceye’s Chief Executive Officer, said his startup reached profitability this year, making the funding “not strictly necessary.” But he described the capital as a means for more quickly launching satellites to improve Europe’s military capabilities.
“Nobody wants Europe ...
