Finland-based space technology company ICEYE said on June 9 it had completed a €1bn funding round that valued the company at over €10bn, driven by growing government demand for sovereign intelligence systems.

The company, which features a Polish CEO and co-founder, has established itself as a major provider of space-based intelligence, with seven European governments procuring its sovereign satellite systems to date.

"The company has raised €450mn in a primary series F funding round led by General Atlantic, at a valuation of over €10bn. Additional investors include Solidium, Tesi, Varma, Ilmarinen, Lifeline Ventures, as well as Nokia, from Finland, Qatar Investment Authority (QIA) and TCV. Together with a secondary placement, the total Series F funding round exceeds €1bn," ICEYE said in a press release.

The company stated that proceeds from the funding round will drive the expansion of its global footprint and deepen its intelligence capabilities, positioning it to deliver sovereign intelligence systems and data to governments and customers at a new scale.

"The quality of investors who have chosen to back us at this scale reflects a shared belief. Sovereign intelligence from space is entering a new era and the window to build it is now. ICEYE has built the world's most advanced, proven capability to meet that demand. This funding enables us to accelerate the delivery of new capabilities to governments and customers faster than ever before," Rafal Modrzewski, Co-Founder & CEO of ICEYE, said as cited in the press release.

The capital injection follows a period of financial growth for the firm. In 2025, ICEYE scaled growth, profitability, and cash generation simultaneously - crossing over €250mn in revenue, and over €100mn in EBITDA, while building a contracted backlog of over €1.5 bn.

To meet expanding demand, ICEYE is doubling its production capacity from 50 satellites per year today to a target of 100 annually by 2028 and beyond, supported by a matching launch cadence, according to the release.

The announcement follows the recent delivery of a fully operational sovereign space system to the Polish Armed Forces, achieved within 12 months from contract signing to operational capability. ICEYE noted that this deployment, among the fastest in history, is now being replicated across Europe, the Middle East and Asia as the pace of adoption accelerates.