Finnish satellite startup Iceye closed a €1bn Series F round, pushing its valuation to roughly €10bn. General Atlantic led the deal, contributing a sizable share of the €450m fresh capital, while existing investors bought secondary stakes. The funding backs Iceye’s micro‑SAR constellation, which supplies radar imagery to governments and commercial users.

Last December Iceye raised €200m at a €2.4bn valuation, signalling rapid growth. The company reported over €250m in revenue and more than €100m EBITDA for 2025, and seven European governments have signed contracts for its data. Production is set to double from 50 satellites annually to 100 by 2028, expanding market reach.

Iceye’s raise underscores a broader investor appetite for space tech, echoing a €270m Series D for German rocket maker Isar Aerospace and talks of a $200m round for Bulgaria’s EnduroSat. The capital equips Iceye to accelerate new capabilities for sovereign customers and fuels speculation about a near‑term IPO, cementing its role in Europe’s emerging satellite economy.

Other backers include Finland’s Tesi, Lifeline Ventures, Nokia, Qatar Investment Authority and TCV, reflecting a blend of strategic and financial interest. Their participation signals confidence that Iceye’s SAR data will become a staple for defense and climate monitoring, positioning the firm as a cornerstone of the continent’s space infrastructure.