Iceye Secures $175 Million Investment Led By General Catalyst At $2.8 Billion Valuation

Iceye, the Finnish satellite developer co-founded by Rafal Modrzewski and Pekka Laurila, has raised €150 million (US $175 million) in a new equity round led by General Catalyst, along with a €50 million (US $58 million) secondary sale for early investors, bringing its valuation to €2.4 billion (US $2.8 billion). The round also drew investment from AP Møller Holding, Bpifrance, and Polish investors including BGK’s investment arm and the family office of InPost founder Rafal Brzoska, with General Catalyst’s European head Jeannette zu Fürstenberg joining Iceye’s board. Originally focused on environmental monitoring, Iceye now specializes in defence-driven synthetic aperture radar satellites, providing high-resolution imagery through clouds, smoke, and darkness. The company plans to use the new capital to expand software and data services, scale satellite production—boosted by a joint venture with Rheinmetall AG—and deepen its footprint with customers across the US, Europe, Japan, and the UAE. FOUNDERS: Rafal Modrzewski & Pekka Laurila INVESTORS: General Catalyst, AP Møller Holding & Bpifrance AMOUNT: $175,000,000 VALUATION: $2,800,000,000 HQ: #Helsinki #Finland #VentureCapital #Iceye #RafalModrzewski #PekkaLaurila #GeneralCatalyst #APMøllerHolding #Bpifrance #TradedVC