Molten Ventures, a European venture capital firm, has reached a new milestone with Finnish space technology company ICEYE becoming its second portfolio company to achieve a valuation of $10 billion or more. The firm’s bet on space tech continues to pay off, reinforcing its thesis in the sector.
ICEYE, which specializes in synthetic aperture radar (SAR) satellite technology, has seen its valuation soar, making it the second Molten-backed company to cross the $10 billion threshold. Details on the exact valuation and the round that triggered this milestone are not specified in available sources. The firm previously saw similar success with Isar Aerospace, another space tech portfolio company.
Molten Ventures has been actively investing in space technology for years, targeting companies that provide critical infrastructure and data from orbit. ICEYE’s ability to monitor Earth in all weather conditions and at any time has made it a key player in defense, insurance, and natural disaster management markets.
This achievement underscores a broader trend: European space tech startups are increasingly achieving unicorn status, driven by demand for satellite-based services and government contracts. Molten’s focus on deep tech, especially space, positions it to capture value as the sector matures.
Molten Ventures did not disclose whether this valuation reflects a recent funding round or secondary market activity. The firm’s success with ICEYE and Isar suggests confidence in its space thesis, though the volatile nature of deep-tech valuations warrants caution.