ICEYE

World's largest commercial SAR satellite constellation for persistent Earth observation.

Space 📍 Espoo, Finland Founded 2014

Current Valuation

$2.5B

as of 2025-Q4

UNICORN

ICEYE operates the world's largest commercial synthetic aperture radar (SAR) satellite constellation, providing all-weather, day-and-night Earth observation for defense, intelligence, insurance, and disaster response. Founded 2014 in Espoo as a spin-out from Aalto University. Doubled revenue in 2025 to €250M+ with €100M+ profitability and a €1.5B backlog. Closed a €150M growth round + €50M secondary at a €2.4B valuation in December 2025.

Company Profile

CEO

Rafal Modrzewski

Founded

2014

Espoo, Finland

Total Raised

$686M

Est. Revenue

$275M (2025)

Growth

~2x YoY (2025 vs 2024)

Last Round

Series E — $158M (Dec 2025)

IPO Status

private

Founders & Key People

Rafal ModrzewskiPekka Laurila

Investors

Solidium · Molten Ventures · BlackRock · OTB Ventures · True Ventures · Seraphim Space

Products

SAR satellite constellation
Persistent monitoring
Flood and disaster insights
Defense and intelligence ISR
Sovereign SAR capability

Competitors

Capella Space · Umbra · Airbus · Maxar · Synspective

SARDefenseEarth ObservationSovereign SpaceFinlandProfitable