ICEYE, a provider of synthetic aperture radar satellite operations for Earth Observation, persistent monitoring, and natural catastrophe solutions, announced that a definitive agreement was signed for an oversubscribed $93 million growth funding round.

The round builds on the company’s Series D round in February 2022, bringing the total amount raised to $438 million.

ICEYE said in a company press release that the funding will support the next phase of growth as the company continues to capitalize on international momentum in its Missions business with interest from allied governments for both defense and civil use cases, expansion of future data offerings, and investments into ICEYE’s Flood Insights and Wildfire Insights products, as well as future peril-based analysis for governments and commercial organizations.

As a partner to governments and commercial industries, ICEYE delivers intelligence in sectors such as insurance, natural catastrophe response and recovery, security, maritime monitoring, and finance.

“As a Finnish heritage company headquartered in Finland, we welcome our newest investor and board member, Solidium,” said ICEYE CEO and Co-Founder Rafal Modrzewski in the release. “This backing from the domestic and international investment community shows trust in ICEYE’s vision to improve life on Earth by becoming the global source of truth in Earth Observation. It is with great pride that we align with our newest investors in the pursuit of ICEYE leading the global market in SAR technology and its broad applications.”

Citigroup acted as the exclusive private placement agent to ICEYE.

Source: ICEYE