Ministers Strand and Puisto are pleased with Finland’s increased ownership of ICEYE

The leading Finnish satellite company ICEYE announced 9.6.2026 that it raised EUR 450 million in new growth capital during a recent funding round. A Finnish consortium led by Solidium and consisting of Tesi (Finnish Industry Investment), Ilmarinen, Varma, Nokia and Lifeline Ventures is participating in the funding round together with international investors.

Following the funding round, the State of Finland will own approximately 12 per cent of ICEYE.

“The current geopolitical situation highlights the significance of domestic ownership in this key strategic sector. State ownership is a central element of domestic ownership, so it is natural that both Solidium and Tesi have further increased their stakes in ICEYE. It is in our interest that world-class companies in different fields grow and continue to strengthen their R&D activities in Finland,” says Minister for European Affairs and Ownership Steering Joakim Strand.

“In recent years, the development of the Finnish growth company sector has been stellar. The space sector has become a strong area for Finland, with the State contributing to its success through Business Finland and Tesi, for example. Today, ICEYE is one of the most important companies in its field,” says Minister of Economic Affairs Sakari Puisto.

The amount of growth funding raised during the round is one of the largest ever in Finland. Following Oura and Supercell, ICEYE will be Finland’s third decacorn, i.e. a growth company valued at over USD 10 billion. Tesi has been involved in the development and growth of ICEYE in a number of funding rounds since the early stages of the company beginning in 2018. Solidium made an initial investment in ICEYE in 2024 and has continued to increase its holdings in 2025–2026. 

Inquiries: 
Lars Aikala, Special Adviser to the Minister of Economic Affairs, tel. +358 29 504 7330
Benina Uotinen, Special Adviser to the Minister for European Affairs and Ownership Steering, tel. +358 29 516 0040