🏆 Deal of the Week · CW 16/2024
ICEYE raised EUR 87M in a venture round of undisclosed series; the valuation was not disclosed. The round was backed by Solidium, Move Capital, Blackwells Capital, and Christo Georgiev. This transaction was recognised as Deal of the Week for KW 16/2024.
ICEYE — key deal facts
| Company | ICEYE |
| Founded | 2014 |
| Headquarters | Espoo, Finland |
| Amount raised | EUR 87M |
| Valuation | Valuation Remains Undisclosed |
| Round | Venture – Series Unknown |
| Investors | Solidium Move Capital Blackwells Capital Christo Georgiev |
| Sectors | Aerospace |
Who invested in ICEYE?
The investor syndicate comprises Solidium, Move Capital, Blackwells Capital, and Christo Georgiev. The mix is notable for combining a Finnish state-owned investment company (Solidium) with international institutional and private capital, reflecting both strategic national interest in sovereign space infrastructure and broader commercial conviction in the SAR Earth observation market.
What does ICEYE do?
ICEYE designs, builds, and operates what it describes as the world's largest synthetic aperture radar (SAR) satellite constellation. Its core products are high-resolution SAR imagery and data services that function in all weather conditions and at night, serving sectors including defense, insurance, disaster response, and maritime tracking. Use cases span flood mapping, border security, and persistent location monitoring. The company was founded in 2014 by Rafał Modrzewski and Pekka Laurila and is headquartered in Espoo, Finland.
ICEYE valuation & multiples
No verified multiples analysis is available for this deal, as the valuation remains undisclosed and no revenue or EBITDA figures have been confirmed. Without an enterprise value anchor, EV/Sales and EV/EBITDA ranges cannot be calculated. Readers seeking comparable transaction multiples for the aerospace and satellite data sector are invited to explore the relevant sector multiples pages on DealMatrix.
Frequently asked questions
How much did ICEYE raise in its Venture – Series Unknown?
ICEYE raised EUR 87M in a venture round of undisclosed series, recognised as Deal of the Week for KW 16/2024.
What is ICEYE's valuation?
ICEYE's valuation was not disclosed in connection with this funding round.
Who invested in ICEYE?
The round was backed by Solidium, Move Capital, Blackwells Capital, and Christo Georgiev.
When was ICEYE founded and where is it based?
ICEYE was founded in 2014 and is headquartered in Espoo, Finland.
Source: original announcement — read the full report.