FRANKFURT / LONDON (IT BOLTWISE) – Finnish startup Iceye, known for its surveillance satellites, recently closed a financing round that values the company at 2.4 billion euros. This investment will be used to strengthen Europe’s military capabilities and accelerate the production of satellites.
Today’s daily deals at Amazon! ˗ˋˏ$ˎˊ˗
Finnish startup Iceye has established itself as a major player in the European defense landscape. With a recently completed funding round valuing the company at €2.4 billion, Iceye plans to accelerate production of its surveillance satellites. These satellites are designed to provide high-resolution images and detect objects even in difficult conditions such as smoke or darkness. Rising defense spending in Europe, triggered by the increasing threat from Russia, presents Iceye with a golden opportunity to further develop its technologies.
The latest funding round was led by venture capital firm General Catalyst and included €150 million in new equity and €50 million from a secondary sale for early investors. Iceye CEO Rafal Modrzewski emphasized that the company has reached profitability this year, but that the funding will be used to accelerate satellite production and strengthen Europe’s military capabilities.
A key part of Iceye’s strategy is the joint venture with the German defense company Rheinmetall. This joint venture, Rheinmetall Iceye Space Solutions, is based in Neuss, North Rhine-Westphalia, and will enable the production of satellites on a larger scale. Rheinmetall owns 60% of the shares in the joint venture, while Iceye owns 40%. Operations are scheduled to begin before the end of the year, and the first satellite is expected to be manufactured next year.
Iceye has already secured contracts with various European militaries, including Poland, Portugal, Finland and the Netherlands. The company plans to produce one unit per week next year to meet increasing demand. With the new funding, Iceye will also invest in software and data tools to provide customers with real-time information. These developments highlight Iceye’s importance in the European defense industry and its role in strengthening regional security infrastructure.
Order an Amazon credit card without an annual fee with a credit limit of 2,000 euros!
Bestseller No. 1 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 2 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 3 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 4 ᵃ⤻ᶻ «KI Gadgets»
Bestseller No. 5 ᵃ⤻ᶻ “KI Gadgets”
Please send any additions and information to the editorial team by email to de-info[at]it-boltwise.de. Since we cannot rule out AI hallucinations, which rarely occur with AI-generated news and content, we ask you to contact us via email and inform us in the event of false statements or misinformation. Please don’t forget to include the article headline in the email: “Iceye strengthens Europe’s defense capabilities with new satellites”.