ICEYE Closes $65M Funding Extension with Global Investor Support
Deal News | Dec 18, 2024 | PR Newswire Cision ICEYE
ICEYE, a leader in synthetic aperture radar (SAR) satellite operations, announced the closure of a $65M extension to its existing growth funding round, bringing the total to $158M raised in 2024. The funding saw participation from notable investors including Solidium Oy, BlackRock, and Seraphim, and aims to further develop ICEYE's SAR satellite constellation and ISR capabilities to meet growing global demand. This financial boost, a mix of debt and equity, accentuates ICEYE's momentum and cements its market-leading position in the space technology sector. The company, which provides real-time Earth Observation data crucial for sectors such as defense, insurance, and finance, operates internationally and employs over 700 people. Citigroup served as the exclusive private placement agent for this transaction.
Sectors
- Space and Satellite Technology
- Investment and Financial Services
- Defense and Surveillance
Geography
- Finland – ICEYE is based in Finland and Solidium Oy, a Finnish investment firm, participated in the funding.
- Global – ICEYE operates internationally, with offices in various countries including Finland, Poland, Spain, and the US, highlighting a global business presence.
Industry
- Space and Satellite Technology – The article centers around ICEYE, which operates in the space and satellite technology sector, focusing on synthetic aperture radar (SAR) satellite operations.
- Investment and Financial Services – The funding round involves various investment firms and financial structuring, making this sector relevant.
- Defense and Surveillance – ICEYE's operations involve intelligence, surveillance, and reconnaissance, pertinent to defense sector applications.
Financials
- $65M – The extension amount added to ICEYE's existing growth funding round.
- $158M – Total funds raised by ICEYE in 2024 including the recent extension.
- $500M – Total funds raised by ICEYE to date including historical financings.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ICEYE | Target Company | Company | A company specializing in SAR satellite technology and Earth Observation services. |
| Solidium Oy | Investor | Company | A Finnish state-owned investment company participating in ICEYE's funding round. |
| BlackRock | Investor | Company | A global investment management corporation involved in ICEYE's funding. |
| Seraphim | Investor | Company | A fund management company investing in ICEYE. |
| Plio Limited | Investor | Company | A participating investor in ICEYE's funding round. |
| Christo Georgiev | Investor | Person | An individual investor involved in the funding extension. |
| Citigroup | Private Placement Agent | Company | Served as the exclusive agent for the placement of ICEYE's investment round. |
| Susan Repo | CFO | Person | Chief Financial Officer at ICEYE. |
| Reima Rytsölä | CEO | Person | CEO of Solidium Oy. |