ICEYE has signed a Letter of Intent with Nokia and the Ukrainian Ministry of Defence to explore the development of sovereign satellite communications infrastructure. This initiative aims to provide Ukraine with independent control over its secure communications systems, building on a previous partnership between ICEYE and Nokia established on October 1, 2026.
In June 2026, ICEYE raised €450 million in a Series F funding round, reaching a valuation exceeding €10 billion. The company also secured a €300 million revolving credit facility in May 2026. These figures are part of a broader trend in the European SpaceTech sector, which saw over €643 million in funding across several companies throughout 2026.
Additionally, ICEYE is collaborating with the German startup OroraTech to integrate thermal satellite data with its own synthetic aperture radar (SAR) technology. This partnership aims to create a comprehensive wildfire monitoring solution that tracks fires from initial detection to damage assessment, potentially reducing the time required for disaster declarations to 24 hours.
Founded in 2014 by Rafal Modrzewski and Pekka Laurila, ICEYE specializes in miniaturized SAR satellites. The company has provided satellite intelligence to Ukraine since 2022. OroraTech, founded in 2018, previously secured a €37 million Series B extension in 2025 to support its thermal intelligence network.
