ICEYE strengthens Ukraine’s satellite communications ambitions while expanding wildfire monitoring capabilities
Finnish SpaceTech unicorn ICEYE has announced two new partnerships aimed at expanding its satellite intelligence capabilities across defence and environmental monitoring.
The company signed a Letter of Intent alongside Nokia and Ukraine’s Ministry of Defence to explore sovereign satellite communications, while also announcing a collaboration with German startup OroraTech to develop an integrated wildfire intelligence solution.
This follows a period of notable growth for the Espoo-based scale-up. In June 2026, ICEYE secured €450 million in primary Series F funding, valuing the company at more than €10 billion, with a further €300 million revolving credit facility secured in May.
This funding activity can be placed alongside adjacent 2026 European SpaceTech funding announcements, including €51 million for Luxembourg and US-based Hydrosat to expand thermal satellite intelligence, €34 million for the UK’s SatVu to scale its thermal observation constellation, and €61 million for Switzerland’s SWISSto12 to develop satellite and communications infrastructure.
In Finland, Helsinki-based Kelluu also raised €15 million to expand its autonomous aerial intelligence capabilities.
Together with funding for France’s UNIVITY (€27 million) and Germany’s AIRMO (€5 million), these 2026 rounds account for approximately €643 million in the general SpaceTech sector, including ICEYE’s primary financing.
Founded in 2014 by Rafal Modrzewski and Pekka Laurila, ICEYE specialises in synthetic aperture radar (SAR) satellite technology, providing Earth observation data and intelligence to governments, defence organisations, insurers and emergency management agencies.
The company originated from research at Aalto University and launched its first SAR satellite in 2018, becoming an early pioneer in miniaturised radar satellites.
The first of the two announcements centres on a Letter of Intent signed by ICEYE, Nokia and Ukraine’s Ministry of Defence to explore cooperation on secure satellite communications. Announced during the Finnish Prime Minister’s visit to Ukraine, the initiative aims to strengthen the country’s defence capabilities by developing communications infrastructure that Ukraine can independently own and control.
The agreement builds on an earlier partnership between ICEYE and Nokia, announced on October 1st 2026, to develop secure, high-performance broadband communications systems using low Earth orbit (LEO) satellites. Designed for governments, these systems would support defence, border security, emergency services and disaster response, while giving participating countries control over their satellites, ground infrastructure and terminals.
Rafal Modrzewski, CEO and Co-founder of ICEYE, said: “Ukraine needs secure, sovereign and high-performance satellite communications systems that it controls. We have a proven track record of delivering sovereign missions at speed to help build that capability. ICEYE has proudly supported Ukraine since 2022, and we remain committed to continuing that support today.”
ICEYE has supported Ukraine with satellite intelligence since 2022, making the proposed communications collaboration a potential extension of an existing relationship. The latest agreement remains exploratory, with no deployment timetable or financial commitments disclosed.
Alongside its defence-related developments, ICEYE has also partnered with Munich-based OroraTech to expand its wildfire intelligence services. The collaboration will combine OroraTech’s thermal satellite data with ICEYE’s SAR observations, creating a platform intended to help organisations monitor wildfires from their earliest stages through to damage assessment and recovery.
Founded in 2018 by Thomas Grübler, Rupert Amann, Florian Mauracher and Björn Stoffers, OroraTech develops space-based thermal intelligence for wildfire detection and monitoring. The startup has expanded its satellite network and provides information to governments and organisations managing wildfire risks worldwide.
As per our coverage, OroraTech secured a €37 million Series B extension in 2025.
Until now, ICEYE’s wildfire intelligence capabilities have primarily focused on assessing building-level damage during active fires. By incorporating OroraTech’s thermal observations, the company aims to extend its services to include identifying initial hotspots, tracking fire progression and assessing threats to communities and critical infrastructure.
The combination brings together two complementary technologies. OroraTech’s thermal satellites can detect heat anomalies and monitor active fires, while ICEYE’s SAR satellites can capture observations through clouds, smoke and darkness, helping assess damage to buildings and infrastructure even while a wildfire is ongoing.
Dr. Ignacio Zuleta, Chief Technology and Product Officer at OroraTech, commented: “Our thermal satellite intelligence provides that critical visibility from the earliest stages of an event, detecting hotspots and tracking fire activity as it develops. By bringing that intelligence together with ICEYE’s SAR capabilities, we can help decision-makers maintain a more continuous understanding of a wildfire, from first detection through its impact on communities, infrastructure and the surrounding environment.”
The integrated solution targets several sectors, including government emergency management, utilities and insurance. Emergency services could use the intelligence to inform evacuations and coordinate firefighting resources, while energy providers could monitor threats to electricity networks and other infrastructure. Insurers could also use the data to identify exposed properties, assess damage and prioritise claims.
According to ICEYE, the technology could help accelerate disaster response by providing more timely information on wildfire progression and its consequences. The company says its integrated approach could support damage assessments for disaster declarations within 24 hours, compared with processes that can otherwise take weeks.
Taken together, the two announcements are one of many examples of how ICEYE is expanding its satellite capabilities beyond Earth observation imagery into a broader range of intelligence and communications services.
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