Finnish synthetic aperture radar (SAR) operator ICEYE announced on August 24, 2026, that it has formally established ICEYE India, an entity based in New Delhi that the company said will serve Indian defense and intelligence customers and act as the platform for its manufacturing plans in the country.
According to the company’s press release, ICEYE India’s immediate priority is giving India’s defense and intelligence customers access to its intelligence capabilities, alongside “supply-chain participation, technology validation, and local capability building.”
ICEYE intends to build production capability in-country to serve Indian defense, surveillance and environmental monitoring requirements through local sourcing, local suppliers and local engineering talent.
“ICEYE India means real engineering and manufacturing capability on the ground,” Rafal Modrzewski, ICEYE’s CEO and co-founder, said in the release. “We’re excited to build this together with the government and local partners.”
ICEYE framed the approach as aligned with Aatmanirbhar Bharat, the self-reliance policy under which foreign suppliers including Safran have structured Indian production and technology transfer commitments.
India permits up to 74% automatic FDI in satellite manufacturing
Manufacturing satellites in India would place ICEYE inside a foreign investment regime the Union Cabinet liberalized on February 21, 2024.
Under those rules, satellite manufacturing and operation permits foreign direct investment of up to 74% through the automatic route, with anything above that requiring government approval. Components and sub-systems are open to 100% FDI automatically, while launch vehicles and spaceports are capped at 49% on the automatic route. ICEYE has not said how ICEYE India is capitalized or whether it is wholly owned.
The expansion follows a Series F round of more than €1 billion that ICEYE closed on June 9, 2026, at a valuation above €10 billion ($11 billion), capital the company said would fund scaling satellite production from 50 units a year to a target of 100 by 2028.
ICEYE has built sovereign constellations for governments including Poland, where it handed over the four-satellite POLSARIS system in under a year, and has supplied tactical radar imagery to Ukraine.
At the Swedish Air Force centenary air show, held on August 22 and 23, 2026, the company said the Swedish Defence Materiel Administration (FMV) has expanded an agreement signed on January 12, 2026, under which the Swedish Armed Forces own and operate sovereign SAR systems and hold control over tasking and data. ICEYE has not disclosed the value or scope of the expansion, and FMV has issued no statement of its own.