Poles invested $11 million in the manufacturer of the "people's satellite" ICEYE
The Polish state bank has invested in the Finnish aerospace company ICEYE, which provides its satellites to Ukrainian intelligence.
The Polish state bank has invested in the Finnish aerospace company ICEYE, which provides its satellites to Ukrainian intelligence.
This is reported by Militarny, citing a statement by Bank Gospodarstwa Krajowego President Myroslav Czekai. The investment is PLN 40 million (about $11 million) in the development of the company’s research projects and production facilities.
«By signing the agreement with ICEYE, through [investment fund] Vinci, Bank Gospodarstwa Krajowego is implementing its strategy for 2025-2030, which involves supporting innovative Polish technologies. The solutions it offers are a good example of dual-use technology. Iceye satellites provide intelligence in the fields of agriculture, crisis management and defense,» Czekaj noted.
ICEYE was founded in 2014 in Finland by Pole Rafal Modrzewski and Finn Pekka Laurila. Since 2018, the company has launched 54 satellites for its own constellation and third-party customers, and plans to launch about 20 new satellites each year starting this year.
It was previously reported that Ukraine has two ICEYE satellites at its disposal — the «people’s» one, purchased by Serhiy Prytula’s charitable foundation, and the second one, funded by Rheinmetall and the German government. The company provides Ukrainian intelligence with the ability to receive images from the entire satellite network.
Rafal Modzhevsky said that before the full-scale Russian invasion, the head of the Main Intelligence Directorate of Ukraine, Kirill Budanov, offered to purchase the company’s microsatellite. The satellite images obtained twice disrupted the Russian Federation’s plans in 2021–2022.
Recall that on July 25, 2025, Polish President Karol Nawrocki vetoed the law on social assistance to unemployed Ukrainians. This decision also effectively puts an end to Polish assistance with Starlink in Ukraine, according to Polish Minister of Digitalization Krzysztof Gawkowski.
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