ICEYE raises $136M in Series D funding round
ICEYE, a global leader in SAR data and NatCat solutions, today announced the completion of a $136 million Series D funding round led by long-time investor Seraphim Space. BAE Systems and Kajima Ventures are also new strategic investors in ICEYE. Molten Ventures, OTB Ventures, True Ventures, C16 Ventures, Chione Ltd, Services Group of America, the UK’s National Security Strategic Investment Fund (NSSIF), Space Capital, and Promus Ventures also participated in the funding round. Morgan Stanley & Co LLC served as the transaction’s placement agent. iceye 136m 304metheringtontechcrunch.
With this latest round of funding, ICEYE has raised a total of $304 million in funding since 2015. ICEYE owns and operates the world’s largest SAR satellite constellation, and the company has successfully launched 16 satellite missions since its first spacecraft was launched into orbit four years ago. ICEYE intends to use the new funds to expand its innovative Natural Catastrophe solutions offering as well as to further develop its leading satellite constellation and technology, reducing time to access and increasing the frequency with which its satellites visit. The company will also make additional investments in its global expansion, particularly in analytics services such as artificial intelligence and machine learning. Iceye 136m series 304metheringtontechcrunch.
“Our entire ICEYE team has built a solid reputation by delivering concrete results to our customers with unrivalled timeliness and quality of service,” said RafalModrzewski, ICEYE’s CEO and Co-founder. “With this new funding round, we’ll be able to continue expanding our operations and further developing our NatCat solutions, which is an important focus area to accelerate our growth.”
“Since our initial investment in ICEYE in 2017, the company has grown from strength to strength. We’ve seen the company make the impossible possible by launching the world’s first miniaturised SAR satellite capable of imaging the planet day and night, and it’s now the world’s largest operator of SAR imaging satellites” said James Bruegger, Chief Investment Officer of Seraphim Space (Manager) LLP. “We have identified ICEYE as one of the sector’s brightest stars as the world’s leading specialist investor focused on the New Space ecosystem. We anticipate that its global scale persistent monitoring of the planet will have a significant impact in assisting in the resolution of some of our most pressing issues.” iceye 136m 304metheringtontechcrunch.
ICEYE provides unparalleled persistent monitoring capabilities for any location on the planet. The company, which owns the world’s largest synthetic-aperture radar constellation, enables objective, data-driven decisions for its customers in industries including insurance, natural disaster response and recovery, security, maritime monitoring, and finance. Data from ICEYE can be collected at any time of day or night, and even through cloud cover. This, in their eyes, is a way to move forward. Hence, the brand has grown in a major level. They do also want to keep on growing for making this startup a global powerhouse. However, one has to dig deep for creating an impact that can indeed lead things forward for the greater good. And the startup sees it happening very soon. This does make them special in many cases.
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