Finland's ICEYE valued at $12 billion in funding round

Nokia Oyj

09/06/2026 11:17

June 9 (Reuters) - Finland's ICEYE has raised €450 million ($519.5 million) in a new funding round, valuing the satellite-based intelligence group at more than €10 billion ($11.54 billion), it said in a statement on Tuesday.
Private equity firm General Atlantic led the Series F funding round which also included Solidium, Tesi, Varma, Ilmarinen, Lifeline Ventures, Nokia NOKIA.HE, TCV and the Qatar Investment Authority (QIA), ICEYE said.
The primary Series F funding round and a secondary placement of shares by existing investors exceeded €1 billion, the company said.
Proceeds will fund ICEYE's global expansion and enhance its intelligence capabilities to meet rising demand.
Following the funding round, the state of Finland will own approximately 12% of ICEYE, the government said.
($1 = 0.8663 euros)

 (Reporting by Elviira Luoma, editing by Louise Rasmussen and Terje Solsvik)
 ((elviira.luoma@thomsonreuters.com; +48 58 769 66 46))