Aiming to become a billion-dollar technology giant – Iceye’s founders were awarded

A satellite company Iceye has grown in just over ten years to a turnover of one hundred million euros. The goal is to eventually grow into billion-dollar giants.

Founders of an ambitious company Rafal Modrzewski and Pekka Laurila were selected as Finland’s 2025 software entrepreneurs on Thursday. Software Finland Ry justified its choice with the fact that Iceye’s founders have succeeded in taking Finnish software and technology know-how to a whole new level. They have created a scalable and continuously billable software business that improves the world’s security and sustainability.

Iceye has grown in just over ten years, to the size of more than 900 employees. Modrzewski has been CEO since the beginning. Laurila has had time to be financial director, technology director and lead large engineering and sales teams. Growing as a leader has also meant learning to let go and trust the team.

Iceye’s desired size category and the redemption of all future opportunities are still far away. The vision is that the company could supplement the information on radar images with information from a wide variety of sources. For example, in natural disaster situations, the company could use imaging to confirm the information presented in the news and social media. Or it could be used to monitor fishing quotas.

As satellite technology becomes cheaper, this kind of data can become available to actors at the municipal level in addition to the state. And eventually even for consumer applications as a general pillar of digital infrastructure.

There has been speculation about the company’s possible listing on the stock exchange for a long time. CEO Rafal Modrzewski, one of the founders, commented to Bloomberg that he hopes the company will be listed in Europe rather than in the United States.

Laurila considers it possible to grow even outside the stock market. Independence would enable faster changes of direction if necessary. He points out that Iceyen is also the one taking satellites into space SpaceX is not on the stock exchange.

This is a free taster About a longer interview with Pekka Laurila intended for Tiv subscribers.