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IceEye raises another $34 million for radar satellites

29 May 2018

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ICEYE raised $34 million in a Series B investment round, bringing the Finnish commercial radar satellite operator's total funding to $53 million, ICEYE announced on 24 May.

With the Series B money, ICEYE plans to further develop its Synthetic Aperture Radar (SAR) technology, pay for additional satellite launches and enhance analytics services for its customers.

ICEYE launched the first commercial SAR microsatellite, weighing 70-kilogram, in January on an Indian Polar Satellite Launch Vehicle. It has contracts to launch two additional satellites this year, one each with SpaceX and Rocket Lab.

Source: SpaceNews

Image credit: ICEYE - An artist's concept of ICEYE-X2