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Home Announcements 🇫🇮 ICEYE secures the first investment from European Commission’s Scaleup Europe Fund
Announcements

🇫🇮 ICEYE secures the first investment from European Commission’s Scaleup Europe Fund

Helsinki, Finland – August 10, 2026 – The Scaleup Europe Fund, established by the European Commission alongside a group of European investors and managed by EQT, today announced its first investment, co-leading ICEYE’s recently announced €1 billion Series F funding round. The funding round included €450 million of primary investment at a valuation exceeding €10 billion.

“Europe has the talent, technology and ambition to build globally leading companies in strategically important industries. Our own journey reflects that. My co-founder Pekka Laurila and I met as students on an Erasmus exchange, received our first funding through Horizon 2020, and we are grateful for the European Commission’s role in initiating the Scaleup Europe Fund. We are pleased to welcome EQT as a long-term partner through the fund, as we continue to expand our sovereign intelligence capabilities from Europe for customers across Europe and globally,” said Rafał Modrzewski, Co-founder & CEO, ICEYE.

The transaction is expected to close subject to customary regulatory approvals and closing conditions.

About ICEYE

ICEYE is the world leader in sovereign intelligence from space. We deliver continuous monitoring capabilities to detect and respond to changes in any location on Earth.

ICEYE owns the world’s largest and most advanced SAR (synthetic aperture radar) satellite constellation. To our customers we provide intelligence with unmatched quality, latency and revisit times, in any weather, day or night. To governments who choose to operate their own constellation we provide this proven capability as a sovereign system.

ICEYE-built constellations serve customers in defence and intelligence, environmental monitoring, insurance and emergency management. We enable fast decisions that contribute to a safer future.

Natively European, founded in Finland. ICEYE operates globally with over 1,000 employees.

Media contact

Email: press@iceye.com

For more information, visit ICEYE.

Originally published on August 10, 2026 by ICEYE.

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