Doha - Sharikat Mubasher: Qatar Investment Authority (QIA) participated in a $1.2 billion series F funding round for sovereign intelligence company ICEYE, at a valuation of over $12 billion.

In a statement released yesterday, QIA revealed that the 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.

The funding will help ICEYE accelerate its global footprint efforts and expand its intelligence capabilities to meet growing demand from governments across Europe, the Middle East, and Asia.

Rafal Modrzewski, Co-founder and CEO of ICEYE, said: "The quality of investors who have chosen to back us at this scale reflects a shared belief. Sovereign intelligence from space is entering a new era, and the window to build it is now. ICEYE has built the world's most advanced, proven capability to meet that demand. This funding enables us to accelerate the delivery of new capabilities to governments and customers faster than ever before."

The Series F round comprised a $520 million 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.