The satellite imagery providers industry in the Nordics is robust and growing rapidly, focusing on providing high-resolution imagery for various applications, from agriculture to urban planning. Companies in this sector leverage advanced satellite technology to gather and analyze data, offering services such as geospatial solutions and environmental monitoring. Notable players include start-ups and established firms, each contributing unique innovations to the market. With increasing demand for real-time data and predictive analytics, the industry is poised for further growth, driven by sustainability initiatives and advancements in satellite technologies. There’s a fascinating trend toward integrating AI and big data analytics in imagery services.


The investor landscape for satellite imagery in the Nordics features a mix of corporate and venture capital firms, with participants based primarily in Finland and Sweden. These investors vary in size, from smaller firms like Icebreaker.vc to larger corporate entities like Equinor. Founded mainly in the past two decades, they collectively made numerous investments in 2024, reflecting a strong interest in the sector. With a focus on technology-driven startups, these investors are key players reshaping how satellite data is utilized across industries, which augurs well for future collaborations and advancements.


Top 17 Satellite Imagery Providers Investors in the Nordics


1. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses through tailored financial solutions and guidance. Among its notable transactions, Almi invested in SmartPlanes, which raised $566,651 in a venture round in 2014, indicating a focus on innovative technologies that may intersect with satellite imagery. Additionally, Almi's investment in Flasheye during a seed round in 2022 suggests a commitment to supporting emerging companies in imaging and data collection sectors. These transactions highlight Almi's potential relevance to the satellite imagery providers industry, as they support companies that could contribute to advancements in this field.


2. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a prominent investment firm based in Stockholm, Sweden, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Notable transactions include the acquisition of StormGeo, a company that provides weather intelligence and analytics, which could leverage satellite data. Additionally, their investment in Neara, which raised $31 million in Series C funding in 2024, highlights their interest in technology that may intersect with satellite imagery applications. EQT's involvement in infrastructure projects, such as IslaLink, which operates submarine fiber-optic cables, further demonstrates their commitment to enhancing connectivity and data transmission, essential for satellite imagery services.


3. Business Finland

  • Website: businessfinland.fi
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2018
  • Headcount: 501-1000
  • Number of deals in 2024: 26
  • LinkedIn: business-finland

Business Finland is a public entity established to support Finnish companies in their growth and internationalization efforts. Founded in 2018 and based in Helsinki, Uusimaa, Finland, it offers funding, consulting services, and market opportunities to help businesses innovate and succeed in global markets. Notably, Business Finland has been involved in significant transactions within the satellite imagery sector, including a $11.3 million debt financing round for ICEYE in December 2018 and a $13 million Series A funding round for the same company in August 2017. Additionally, they provided a grant to Kuva Space in November 2023, further demonstrating their active role in supporting satellite imagery providers. This involvement highlights their commitment to fostering innovation in this industry while also promoting trade and investment in Finland.


4. Icebreaker.vc

  • Website: icebreaker.vc
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 7
  • LinkedIn: icebreaker-vc

Icebreaker.vc is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2016. The firm specializes in providing funding and support to idea-stage technology startups, primarily in Finland, Estonia, and Sweden. Icebreaker.vc has been actively involved in the satellite technology sector, with notable investments including Terramonitor, which focuses on satellite imagery, and ReOrbit, a provider of software-enabled satellites that raised $7.4M in Seed funding in 2023. Additionally, they led a €1 million pre-seed funding round for Spaceit, an Estonian startup in the space industry. These transactions highlight Icebreaker.vc's commitment to supporting innovative companies in the satellite imagery and technology space.


5. Equinor

  • Website: equinor.com
  • Type: Corporate
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1972
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: equinor

Equinor ASA is a public entity based in Stavanger, Norway, primarily operating in the energy sector with a focus on oil, gas, and renewable energy. Founded in 1972, Equinor has a workforce of over 10,000 employees and is committed to sustainability, aiming to achieve net-zero emissions by 2050. As part of its investment strategy, Equinor Ventures has engaged in several transactions that highlight its interest in technology sectors that intersect with satellite imagery. Notably, Equinor led a $20 million Series B funding round for Vaarst, a company specializing in computer vision and data management, which are critical for satellite imagery applications. Additionally, Equinor has invested in Earth Science Analytics, which raised over $8 million in Series B funding, and SeekOps, which focuses on environmental monitoring and raised $14 million in its Series B round. These investments reflect Equinor's strategic interest in leveraging advanced technologies that can enhance data analytics and environmental monitoring, aligning with the satellite imagery providers industry.


6. Kongsberg Maritime

  • Website: kongsberg.com
  • Type: Corporate
  • Headquarters: Kongsberg, Buskerud, Norway
  • Founded year: 1814
  • Headcount: 5001-10000
  • Number of deals in 2024: 1
  • LinkedIn: kongsberg-maritime

Kongsberg Maritime, part of Kongsberg Gruppen, is a technology provider founded in 1814, specializing in advanced solutions across various sectors including defence, aerospace, maritime, and digital technologies. The company operates globally, emphasizing sustainable practices and collaboration with stakeholders. Notably, Kongsberg has made significant strides in the satellite sector, highlighted by its acquisition of Kongsberg Geospatial in 2006, which enhances its geospatial technology capabilities. More recently, Kongsberg Defence & Aerospace acquired a 78% stake in NanoAvionics, a Lithuanian small satellite manufacturer, for an enterprise value of EUR 65 million. This acquisition aims to bolster Kongsberg's offerings in the small satellite market, further integrating satellite technology into its portfolio. These transactions underscore Kongsberg's commitment to advancing its capabilities in satellite technology and imagery.


7. Lifeline Ventures


Lifeline Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2009. The firm specializes in early-stage investments in startups, providing financial backing and advisory services to entrepreneurs across various sectors. Lifeline Ventures focuses on supporting resilient founders from the inception of their ventures. Notably, they have made significant investments in the satellite imagery sector, including a total of $15 million in ICEYE through two Series A funding rounds in 2015 and 2017. Additionally, they participated in a $7.5 million seed round for NewOrbit Space in December 2023, further emphasizing their engagement in the satellite and space technology industries. Their diverse portfolio reflects a commitment to fostering innovation in both traditional and emerging sectors.


8. Inventure

  • Website: inventure.vc
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2005
  • Headcount: 11-50
  • Number of deals in 2024: 9
  • LinkedIn: inventure

Inventure is a venture capital firm based in Helsinki, Finland, founded in 2005. The firm focuses on backing ambitious Nordic and Baltic founders, providing venture capital investment and portfolio management services to early-stage tech startups. Inventure has been actively involved in the satellite technology sector, with notable investments including ReOrbit, a provider of software-enabled satellites that raised $7.4M in Seed funding, and Value.Space, a UK-based startup that raised €2.1M for its satellite insurance technology. These investments highlight Inventure's commitment to supporting innovative companies in the satellite imagery and technology space, alongside their broader focus on tech startups.


9. Voima Ventures

  • Website: voimaventures.com
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2019
  • Headcount: 11-50
  • Number of deals in 2024: 11
  • LinkedIn: voima-ventures

Voima Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2019. The firm specializes in funding early-stage science-based innovations and deep tech ventures, providing capital and expertise to help startups scale their solutions for global challenges. Voima Ventures operates primarily in the Nordic and Baltic regions and has been involved in various sectors, including life sciences and advanced manufacturing. Notably, they have invested in Kuva Space, a Finnish company that raised €16.6M in a Series A funding round to advance its patented hyperspectral camera and space technology, as well as to establish a constellation of commercial hyperspectral cubesats. This involvement highlights their commitment to the satellite imagery sector, making them a relevant player in this industry.


10. Springvest Oyj

  • Website: springvest.fi
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2012
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: springvest

Springvest Oyj is a venture capital investment service company based in Helsinki, Uusimaa, Finland, founded in 2012. The firm specializes in connecting investors with promising Finnish growth companies, facilitating funding rounds, and providing investment management services. In 2023, Springvest Oyj participated in a significant funding round for Kuva Space, which raised €16.6M to advance its patented hyperspectral camera and space technology, highlighting their engagement in the satellite imagery sector. Additionally, they led a €5M Series A funding round for ROCSOLE, a smart process imaging company, showcasing their broader interest in imaging technologies. This diverse portfolio allows Springvest to help both individual and institutional investors diversify their investments while targeting high returns.


11. Heartcore Capital

  • Website: heartcore.com
  • Type: Venture Capital
  • Headquarters: Copenhagen, Denmark
  • Founded year: 2007
  • Headcount: 11-50
  • Number of deals in 2024: 17
  • LinkedIn: heartcorecapital

Heartcore Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2007. The firm specializes in investing in early-stage technology companies and emphasizes building long-term relationships with entrepreneurs. In 2024, Heartcore Capital has been involved in 17 investments, showcasing their active role in the venture capital landscape. Notably, they have invested in Skynopy, a Paris-based space startup that raised $3.1 million to enhance its ground station offerings, and Orbex Space, a UK-based launch startup that has raised significant funding across multiple rounds, including a Series C round of approximately $20.8 million. These transactions highlight Heartcore's commitment to supporting innovative companies within the space and satellite industry.


12. NordicNinja VC

  • Website: nordicninja.com
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2019
  • Headcount: 1-10
  • Number of deals in 2024: 6
  • LinkedIn: nordicninja-vc

NordicNinja VC is a venture capital firm based in Helsinki, Finland, founded in 2019. The firm specializes in investing in technology startups that focus on sustainability and digital innovation. With a small team of 1-10 members, NordicNinja provides both investment and advisory services to help startups scale their operations. Their portfolio includes a diverse range of companies across various sectors, including mobility, deep tech, and climate technology, primarily located in Northern Europe. Notably, NordicNinja has participated in significant funding rounds for companies like LiveEO, which raised $26.77 million in a Series B round in June 2024, and Kognic, which secured $24 million in a Series A round in February 2022. These investments highlight their engagement with innovative technologies that could intersect with satellite imagery applications, particularly in infrastructure monitoring and data analytics.


13. Trill Impact

  • Website: trillimpact.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2019
  • Headcount: 51-200
  • Number of deals in 2024: 1
  • LinkedIn: trill-impact

Trill Impact is an impact investment firm based in Stockholm, Sweden, founded in 2019. The firm specializes in private equity, ventures, and microfinance, with a strong emphasis on generating measurable social and environmental impact alongside competitive financial returns. Trill Impact's clientele includes institutional investors and businesses that are keen on investing in initiatives that promote positive change. Notably, Trill Impact participated in a $50 million Series B funding round for Open Cosmos, a UK-based satellite mission management provider, alongside other impact investors. This investment aims to enhance Open Cosmos's capabilities in addressing climate change, disaster management, and resource stewardship, showcasing Trill Impact's active involvement in the satellite imagery sector.


14. Helen Ventures

  • Website: helenventures.fi
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2019
  • Headcount: 1-10
  • Number of deals in 2024: 7
  • LinkedIn: helen-ventures

Helen Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2019. The firm focuses on investing in clean energy technology companies, providing capital and expertise to help businesses develop innovative solutions for energy management and electric vehicle infrastructure. Their portfolio includes companies like Renewabl and Virta, which are dedicated to enhancing sustainability and reducing carbon emissions. Notably, Helen Ventures has invested in LiveEO, a Berlin-based provider of satellite analytics, participating in multiple funding rounds including a Series B round that raised over $26 million in June 2024 and a Series A round that raised €19 million in August 2022. This involvement in LiveEO highlights their engagement in the satellite imagery sector, showcasing their interest in technologies that leverage satellite data for infrastructure monitoring and other applications.


15. Nordic Foodtech VC


Nordic Foodtech VC is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2019. The firm specializes in early-stage investments in deep foodtech innovations, aiming to transform the food system by supporting startups that develop sustainable and health-oriented food technologies. While their primary focus is on the food technology sector in the Nordics and Baltics, they have also invested in Kuva Space, a Finnish company that is establishing a constellation of commercial hyperspectral cubesats. This investment, which includes participation in multiple funding rounds totaling over €20 million, highlights their engagement in satellite technology and AI analytics platforms, showcasing their interest in applications that intersect with satellite imagery.


16. Veq

  • Website: veq.vc
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2021
  • Headcount: 1-10
  • LinkedIn: vntrsequity

Veq is a venture capital firm based in Stockholm, Sweden, founded in 2021. The firm specializes in investing in early-stage tech companies, providing them with capital and strategic support to foster growth. Veq's investment strategy emphasizes innovative software companies with scalable potential. Notably, Veq has participated in funding rounds for companies like GLOBHE, which has developed a digital platform called Crowddroning that connects drone operators to clients for high-quality data capture, and Airpelago, which automates the inspection of power lines using drones. These investments highlight Veq's engagement with technologies that intersect with satellite imagery, particularly in the realm of aerial data collection and analysis.


17. Ackra Invest


Ackra Invest AB is a corporate investment firm based in Sweden, founded in 2005. The firm specializes in business development and acquisitions, providing consulting services to businesses seeking growth, generational transitions, and strategic acquisitions. Their clientele primarily consists of business owners and entrepreneurs in need of expertise and capital to navigate market challenges. Ackra Invest operates mainly in the Västerbotten region. Notably, they have been involved in significant transactions such as the investment in SmartPlanes, which raised $566,651 in a venture round in September 2014, and Xore, which raised $4,000,000 in a venture round in September 2015. These investments indicate their engagement in sectors related to satellite imagery and aerial data solutions, highlighting their relevance in this industry.



Satellite Imagery Providers Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
AlmiStockholm, Stockholm, Sweden201-50019947
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
Business FinlandHelsinki, Uusimaa, Finland501-1000201826
Icebreaker.vcHelsinki, Uusimaa, Finland11-5020167
EquinorStavanger, Rogaland, Norway10001+19726
Kongsberg MaritimeKongsberg, Buskerud, Norway5001-1000018141
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
InventureHelsinki, Uusimaa, Finland11-5020059
Voima VenturesHelsinki, Uusimaa, Finland11-50201911
Springvest OyjHelsinki, Uusimaa, Finland11-5020123
Heartcore CapitalCopenhagen, Denmark11-50200717
NordicNinja VCHelsinki, Uusimaa, Finland1-1020196
Trill ImpactStockholm, Stockholm, Sweden51-20020191
Helen VenturesHelsinki, Uusimaa, Finland1-1020197
Nordic Foodtech VCHelsinki, Uusimaa, Finland1-1020197
VeqStockholm, Stockholm, Sweden1-1020210
Ackra InvestSweden11-5020050


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