ICEYE secures new funding to boost capabilities valued by re/insurance market
ICEYE, a world leader in synthetic aperture radar (SAR) satellite systems, has secured €150 million in new funding 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).
According to the firm, the funding will be used to accelerate its delivery of sovereign satellite systems and data intelligence services.
For the re/insurance market, the investment underscores growing reliance on high-frequency, high-resolution hazard data to support underwriting, exposure management, and rapid disaster loss verification.
As ICEYE expands its constellation and analytics capabilities, reinsurers and insurers are expected to gain more granular, near-real-time insights into flood, wildfire and other perils, enhancing risk modelling accuracy and improving event response and preparation.
The pan-European participation includes A.P. Moller Holding in Denmark, Bpifrance in France, Vinci (BGK Group) and RiO Family Office from Poland, 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, aboard the Transporter-15 rideshare mission with SpaceX from Vandenberg Space Force Base, California, USA.
With these additions, ICEYE has now launched a total of 62 satellites for itself and its customers since 2018, including 22 so far in 2025.
Rafal Modrzewski, Co-Founder & CEO of ICEYE, commented, “ICEYE’s SAR technology has become a core strategic and tactical tool for governments and institutions worldwide. Our team has a strong track record of turning advanced SAR technology into concrete results for customers who need answers in minutes, not days.
“This funding enables us to deepen that commitment by investing in the expansion of our world-leading SAR constellation, next-generation sensing capabilities, and data intelligence services that help governments and organizations manage risk and respond faster.
“For European nations and allies, that means greater control over their own space-based intelligence – and a partner capable of delivering at industrial scale.”
Jeannette zu Fürstenberg, Managing Director and Head of Europe at General Catalyst, said, “Europe’s security starts with sovereign space capability.
“ICEYE enables that, with the world’s largest SAR constellation, software-defined satellites, and fully sovereign missions that put independent visibility back in Europe’s hands.
“Ministries and intelligence agencies can secure borders via on-demand imagery, while nations seeking full control can deploy their own turnkey satellite missions. That’s why we see ICEYE as a rising global space prime.”
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