Finnish Iceye raises EUR 29 million and prepares for new satellite launches

Iceye will use the new capital to expand its custom analytics services for its growing customer base, further develop its SAR satellite technology and fund additional launches. To date the company has raised a total of EUR 45 million, including government financing and the EU’s Horizon 2020 program.

“This funding secures our goal of deploying the world’s largest SAR satellite constellation before the end of next year,” said Rafal Modrzewski, CEO and Co-founder. In January, Iceye became the first organization in the world to launch a SAR satellite with a launch mass of under 100 kg. Following the January 2018 launch of ICEYE-X1, the company is launching two additional satellites this year and aims for a total of 9 upcoming satellite launches by the end of 2019.

Read the press release here (Tesi)