ICEYE lands $136m for NatCat solutions

ICEYE, an expert in natural catastrophe (NatCat) solutions, has closed a $136m Series D funding round.

The round was led by long-standing investor Seraphim Space. New strategic investors to ICEYE also included BAE Systems and Kajima Ventures.

Also participating in the round was 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. Morgan Stanley & Co served as placement agent for the transaction.

With this round, ICEYE has raised a total of $304m in financing since 2015. ICEYE owns and operates the world’s largest constellation of SAR satellites and the company has successfully launched 16 satellite missions in total since its first-ever spacecraft was placed into orbit only four years ago.

SAR is a type of data collection that can be used to gather information about floods, land cover changes, and modifications of the Earth’s surface from landslides, earthquakes and tectonic movements.

ICEYE said its constellation capability is ideally suited for applications such as insurance loss adjustment, natural catastrophe response and recovery, national security, humanitarian relief and climate change monitoring.

ICEYE will use the new capital to grow its innovative natural catastrophe solutions offering and to further develop its leading satellite constellation and technology, reducing time to access and increasing the visiting frequency of its satellites. The company will also make further investments towards its growth globally, particularly its analytics services, which includes artificial intelligence and machine learning.

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