Finland is one of the earth observation countries, where companies like ICEYE, providing synthetic-aperture radar (SAR) data, is founded.
The company not only collected €29 million in funding, but completed a historic landmark in aerospace by becoming the first organization in the world to launch a SAR satellite with a launch mass of under 100kg in January 2018.
The recent funding enables ICEYE to expand its custom analytics services for its growing customer base, further develop its SAR satellite technology, as well as fund additional launches of ICEYE SAR satellites.
According the press release, ICEYE's SAR technology delivers reliable imaging even when optical imaging cannot, for example in darkness or clouds covering two-thirds of the planet at any given time. The company is helping governments and commercial entities by providing timely imaging data. The data helps solving some of the world's toughest challenges in sectors such as the maritime industry, disaster management, insurance, finance, security and intelligence.
Read the full press release from Tesi (Finnish Industry Investment Ltd) pages.