Finnish space launch ICEYE Move Capital Fund I has secured $93 million in growth equity funding led by Finnish sovereign wealth fund Solidium Oy, with participation from Blackwells Capital, Christo Georgiev, and existing investors.

Established in 2014, ICEYE specializes in deploying radar satellites that capture images of the Earth's surface at any time and in any weather conditions using Synthetic Aperture Radar (SAR) technology. What sets ICEYE apart is the use of microsatellites weighing less than 100 kg, offering a more cost-effective solution than conventional satellites. In 2018, ICEYE made history by launching the first SAR microsatellite into space.

The latest funding round will enable ICEYE to expand its portfolio of data and subscription products, following a successful Series D round two years ago. With a total funding of $438 million, ICEYE is now the second best-funded space tech startup in Europe, according to Dealroom.

ICEYE CEO and Co-Founder Rafal Modrzewski thanked domestic and international investors for their support, and emphasized ICEYE's vision to enhance life on Earth by becoming a global leader in Earth observation.

In 2023, ICEYE reported revenues of more than $100 million, indicating significant commercial traction in recent years, particularly on the international front. The company collaborates with governments and commercial industries, providing intelligence in a variety of fields such as insurance, disaster response, security, maritime surveillance, and finance. By facilitating informed decision-making, ICEYE aims to contribute to community resilience and sustainable development.

Headquartered in Finland, ICEYE has a team of over 600 employees, driving innovation in the field of space technology.