Doha, Qatar: Qatar Investment Authority (QIA) announced yesterday its participation in the €1bn ($1.2bn) Series F funding round of sovereign intelligence company ICEYE, at a valuation of over €10bn (over $12bn).
The new funding will support ICEYE’s global footprint efforts and expand the company’s intelligence capabilities to meet growing demand from governments across Europe, the Middle East and Asia.
The Series F fundraise comprised of a €450m ($520m) primary placement and was led by General Atlantic. In addition to QIA, the round attracted interest from other global investors, including Solidium, Tesi, Varma, Ilmarinen, Lifeline Ventures, Nokia, and TCV. Together with a secondary placement, the total Series F funding reached €1bn ($1.2bn).
ICEYE is the leading global provider of space-based intelligence, with seven European governments to date having procured sovereign satellite systems from the company. The Series F round follows a period of exceptional momentum for ICEYE, which generated over €250m in revenue in 2025, with a contracted backlog of €1.5bn. In response to growing demand, ICEYE is doubling production from 50 satellites annually today to a target of 100 by 2028, supported by a matching launch cadence.
QIA’s investment reflects its continued focus on backing high-growth, technology-enabled businesses that enhance national security and global resilience, including the future of space-based intelligence and defense technology.
