ICEYE, the global leader in synthetic aperture radar (SAR) satellite systems, has secured €150 million in new financing and a €50 million secondary placement, led by General Catalyst with broad pan-European participation, valuing the company at €2.4 billion ($2.8 billion).
The company said the funding will be used to accelerate the delivery of its sovereign satellite systems and data intelligence services.
For the reinsurance market, this investment highlights the growing reliance on high-frequency, high-resolution disaster data to support underwriting, risk management and rapid disaster loss verification.
As ICEYE expands its clustering and analytics capabilities, reinsurers and insurers expect to gain more granular, near-real-time insights into floods, wildfires and other hazards, increasing the accuracy of risk modeling and improving incident response and preparedness.
Pan-European participants include Denmark’s AP Moller Holding, France’s Bpifrance, Poland’s Vinci (BGK Group) and RiO Family Office, as well as Finnish investors Solidium, Ilmarinen, European Tech Collective, Keva, Lifeline Ventures, Tesi, Varma Mutual Pension Insurance Company and Peter Sarlin.
Frequent readers may recall that ICEYE launched five new SAR satellites on November 28, 2025, on the Transporter-15 rideshare mission with SpaceX from Vandenberg Space Force Base in California, USA.
With these additions, ICEYE has launched a total of 62 satellites for itself and its customers since 2018, including 22 so far in 2025.
Rafal Modrzewski, co-founder and CEO of ICEYE, commented: “ICEYE’s SAR technology has become a core strategic and tactical tool for governments and agencies around the world. Our team has a proven track record of translating advanced SAR technology into concrete results, helping customers who need answers in minutes instead of days.
“This funding allows us to deepen this commitment by investing in the expansion of our world-leading SAR constellation, next-generation sensing capabilities and data intelligence services to help governments and organizations manage risk and respond faster.
“For European countries and allies, this means greater control over their own space-based intelligence, and partners who can deliver on an industrial scale.”
Jeannette zu Fürstenberg, Managing Director and Head of Europe at General Catalyst, said: “Europe’s security starts with sovereign space capabilities.
“ICEYE achieves this with the world’s largest SAR constellation, software-defined satellites and fully sovereign missions, putting independent visibility back into European hands.
“Ministries and intelligence agencies can secure their borders with on-demand imagery, while countries seeking complete control can deploy their own turnkey satellite missions. That’s why we see ICEYE as a rising global space major.”
