Iceye raises $87 million in Series C investment round

SAN FRANCISCO – Radar satellite operator Iceye raised $87 million in a Series C round announced Sept. 22, boosting the Finnish startup’s total investment tally to $152 million.

“We’re grateful to have closed a great round,” Mark Matossian, Iceye US CEO, told SpaceNews. “Now, we can stand on the accelerator.”

With the Series C round completed, Iceye is preparing to launch four small synthetic aperture radar (SAR) satellites in 2020 and “at least eight” in 2021, Matossian said.

In addition, Iceye US has begun looking for a U.S. manufacturing site. In February, Iceye opened a U.S. office in the San Francisco Bay Area led by Matossian, who managed a series of aerospace programs at Google including the Earth-imaging venture Terra Bella.

Iceye currently operates a constellation of three 100-kilogram SAR satellites manufactured in Europe. The company founded in 2014 also manages a dedicated mission for an unnamed customer.


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