Espoo-based startup ICEYE, which provides high-resolution radar satellite imagery for Earth observation, has secured €9.4 million (PLN 40 million) from Vinci Fund, part of the BGK Group.
- Established in 2015 by Rafał Modrzewski, ICEYE develops and operates a constellation of microsatellites that provide high-resolution radar imagery of the Earth, capable of capturing data regardless of weather conditions or time of day.
- ICEYE’s satellites deliver imagery with up to 25 cm resolution and a high revisit frequency, enabling precise monitoring for applications in defense, intelligence, disaster response, agriculture, and environmental management.
- Since its founding, the company has launched over 50 satellites and continues to expand its constellation by deploying approximately 20 additional satellites annually.
- Its technology supports both government and commercial operations, including contracts with national defense ministries, international organizations, and private sector clients, providing near real-time data for situational awareness, risk assessment, and operational planning.
Details of the deal
- The fresh funding was led by Vinci S.A., a venture capital fund that invests in early-stage and mature enterprises across sectors such as automotive, space, energy, IT, and more.
"Our investment in ICEYE means that Poland is entering a completely new segment of the satellite industry at an early stage. High-quality satellite data is used both in defense and intelligence operations, as well as in preventing and resolving the effects of natural disasters," explains Bartosz Drabikowski, CEO of Vinci S.A.
- The fresh capital will fuel the expansion of ICEYE’s SAR satellite constellation and bolster its role in Poland’s defense sector through programs such as the recently signed MikroSAR agreement with the Ministry of National Defence.
- It will also drive the development of applications across crisis management, disaster response, agriculture, and environmental monitoring, positioning the company to expand its global reach and advance innovation in space-based Earth observation.
"We are extremely pleased that Vinci, together with the BGK Group, recognizes the strategic need to invest in space technologies, whose importance for security and the global economy is constantly growing. This is an investment in the future that will serve Poland," claims Rafał Modrzewski, CEO and co-founder of ICEYE.
