The new center strengthens ICEYE’s development of defense and related ISR technologies, driving innovation in Spain’s space sector.

VALENCIA, Spain, May 7, 2025 /PRNewswire/ — ICEYE, the global leader in Synthetic Aperture Radar (SAR) satellite operations for Earth Observation, has today announced expanding its global footprint with the launch of a new Research & Development and Manufacturing Center in Valencia, Spain. The new center is the company’s second-largest R&D hub. It will drive innovation in ICEYE’s pipeline researching, developing, and manufacturing SAR-based and future multi-sensor technologies and solutions for persistent Earth Observation. This strategic investment highlights ICEYE’s confidence in the Valencia region’s skilled workforce and its potential to contribute to ICEYE’s global innovation and growth efforts by developing technologies and solutions made in Spain.

“As a leading innovator in SAR satellite technology, we are excited to open our cutting-edge R&D and Manufacturing Center in Valencia. With this significant investment in Spain, we are enhancing the development and manufacturing of our Earth observation technologies as we expand our global presence. Our SAR technology has proven crucial for sectors such as defense and intelligence, security, maritime monitoring, insurance, and natural catastrophe response. We continue to invest in developing and expanding our leading SAR satellite constellation, delivering satellite missions to our customers. We are also advancing our Intelligence, Surveillance, and Reconnaissance (ISR) platform and related systems for our customers in the defense sector,” said Rafal Modrzewski, CEO and Co-founder of ICEYE.

“ICEYE is a company that has made innovation and excellence its reason for being in a strategic sector for everyone, namely space. The Spanish government’s commitment to this sector makes Spain an attractive country for the development and growth of companies in the ‘NewSpace’ industry, in a municipality such as Paterna, in which talent and vibrant business activity thrive,” said Teresa Riesgo, Secretary General for Innovation at the Ministry of Science, Innovation and Universities.

In the words of Sari Rautio, Finnish Ambassador to Spain, “Both Spain and Finland are committed to the development of space technologies and dual-use solutions to promote our security and competitiveness. This new ICEYE plant in Paterna, Valencia, highlights the importance we attach to innovation and investment geared towards achieving European strategic autonomy in key technologies.”

Carlos Mazón, President of the Valencian Regional Government, said that “This ICEYE microsatellite component production and assembly centre contributes to strengthening the Valencian Community as a key hub for the aerospace industry and supports a high-tech ecosystem that creates quality jobs”.

For Mazón, the contribution of companies such as ICEYE, which has the world’s largest constellation of synthetic aperture radar (SAR) satellites, is two-fold: “On the one hand, making it possible to respond to emergency situations, and on the other, facilitating the planning of urban development, stimulating infrastructure design and initiatives for sustainable development and environmental protection.”

With its presence in Valencia, ICEYE will directly contribute to the local community, broader Spanish economy, and national defense and space industry sectors by creating highly skilled jobs and infusing advanced technological expertise. ICEYE also aims to engage with local academic institutions, such as the Universitat Politècnica de València (UPV). Additionally, by developing and building proven technological sovereign solutions in Spain and thanks to its flexible and quick access to space, ICEYE will work with the Government of Spain to help strengthen its national security and defense intelligence interests.

“Valencia was selected for our R&D and Manufacturing Center due to its highly skilled talent pool, the area’s nascent and highly promising New Space ecosystem and infrastructure for innovation and technology, and the operational efficiency of the area. We anticipate expanding our Valencia team to over 100 employees within the next three years. We are actively seeking to grow our global team of engineers, scientists, and innovators with skilled professionals in Valencia to contribute to cutting-edge space technology and make a tangible impact on global security and resilience,” said Gonzalo Garcia-Munoz, CEO of ICEYE Spain and Global SVP of Operations at ICEYE.

Notes to editors on ICEYE’s impact during the 2024 DANA storm in Spain:
The DANA storm brought devastating floods to southeastern Spain, with Valencia particularly hard-hit. The ICEYE team immediately mobilized to provide critical support to local authorities and aid organizations. We worked closely with the Valencian Government to rapidly detect and quantify impacts. We have collaborated closely with the Ministry of Innovation, Industry, Commerce, and Tourism to obtain accurate, comprehensive, and timely information about the status of each business park. We also collaborated with the Spanish Space Agency to explore additional ways to support national disaster management authorities with satellite-based actionable data.

About ICEYE
ICEYE delivers unparalleled persistent monitoring capabilities to detect and respond to changes in any location on Earth, faster and more accurately than ever before.

Owning the world’s largest synthetic aperture radar (SAR) satellite constellation, ICEYE provides objective, near-real-time insights, ensuring that customers have unmatched access to actionable data, day or night, even in challenging environmental conditions. As a trusted partner to governments and commercial industries, ICEYE delivers intelligence in sectors such as defense and intelligence, insurance, natural catastrophe response and recovery, security, maritime monitoring, and finance, enabling decision-making that contributes to community resilience and sustainable development.

ICEYE operates internationally with offices in Finland, Poland, Spain, the UK, Australia, Japan, the UAE, Greece, and the US. We have more than 700 employees, inspired by a shared vision to improve life on Earth by becoming the global source of truth in Earth Observation.

More information for the media:

ICEYE global media contact: press@iceye.com
ICEYE media contact in Spain: iceye@kreab.com

Visit www.iceye.com and  https://www.iceye.com/es/ for information.
Follow ICEYE on LinkedIn and X for the latest updates and insights.

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SOURCE ICEYE

Dallas-based The Functionary wins a Bronze Stevie Award for Fastest Growing Company, boasting 98% client retention and expanding globally with over 300 new hires in 2025, showcasing its innovative approach to managed services.

DALLAS, May 7, 2025 /PRNewswire/ — The Functionary, a Dallas-based company, has been awarded a Bronze Stevie® Award in the Fastest Growing Company of the Year category in the 23rd Annual American Business Awards®. This prestigious award recognizes The Functionary’s exceptional growth and success in the tech-enabled services sector. The company’s innovative approach to managed services, coupled with a commitment to client success, has driven significant expansion and earned the trust of industry leaders such as Amazon, McGraw Hill, and Sony.

Learn more about The Functionary’s award-winning services and explore how their solutions can transform your business. Visit https://thefunctionary.com/ to discover their comprehensive service portfolio and connect with their team of experts.

“Winning the Stevie Award is a powerful validation of the relentless hard work, innovation, and commitment our team brings every day,” says Sam Darwish, CEO and Founder. “At The Functionary, growth isn’t just about numbers—it’s about building trust with our clients, creating real impact, and continuously pushing the boundaries of what’s possible. This recognition fuels our momentum as we scale even higher.”

The Functionary’s success is a testament to its core principles: 

Active listening

Empathetic problem-solving

Collaborative approach to technical challenges, rigorous technical standards and innovative solutions

Shared responsibility and commitment to client success. 

This dedication has resulted in a remarkable 98% client retention rate in their customer experience category. The company’s rapid growth is further evidenced by the recent expansion of their El Salvador office and upcoming launch of a new office in Buenos Aires, along with the onboarding of over 300 employees in 2025 alone. This expansion reflects the company’s commitment to scaling its operations to meet the increasing demand for its services.

The American Business Awards, known as the Stevies, received over 3,600 nominations this year. More than 250 professionals worldwide participated in the judging process, making this award a significant achievement. The Functionary’s win highlights its consistent recognition on prestigious lists, including back-to-back Inc. 5000 placements and a top spot on the SMU 100 (Dallas fastest growing) in 2024. 

The company’s growth has also led to the onboarding of several major enterprise clients, including one of the world’s largest transportation companies and a leading e-commerce platform. The Functionary’s success story demonstrates its ability to redefine global solutions through technology-enabled services, offering an all-shore presence (onshore, nearshore, and offshore) to its clients.

The Functionary’s Bronze Stevie® Award will be celebrated at a gala event in New York on June 10th. This recognition underscores the company’s commitment to excellence and innovation, solidifying its position as a leading provider of nearshore outsourcing solutions. The company’s diverse team, composed of professionals from 26 countries, is a key factor in its continued success. The Functionary’s growth is not merely about numbers; it’s about building strong client relationships and continuously exceeding expectations. 

Follow https://www.linkedin.com/company/the-functionary/ to keep up with this acclaimed company!

Media Contact: Luisa Balaniuc – 347 9734696

luisa.balaniuc@thefunctionary.com

This approach has earned us the trust of industry leaders including Amazon, McGraw Hill, GXO, Gallo, Simple Practice, Sony, Connection, CSC, Insight, Denali Advanced Integration, and Scale Computing.Explore the potential of managed services with The Functionary. Discover why industry leaders trust our transformative solutions. Visit us at The Functionary today and explore our comprehensive service portfolio.Let’s build your technology success story together! https://thefunctionary.com/about-us/

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SOURCE The Functionary

“If You Can Dream It, You Can Have It”: Consumers Able to Create Physical Items with AI; Items Made and Shipped by Independent Manufacturers

SAN FRANCISCO, May 7, 2025 /PRNewswire/ — Arcade, a generative AI marketplace where what can be dreamed can be had, today announced the integration of OpenAI’s gpt-image-1 model into its platform, transforming how consumers buy physical products like jewelry and home decor including rugs, pillows, ceramics and more.

Consumers can now instantly edit and buy physical products.

“The hunt is over,” said Mariam Naficy, Co-Founder and CEO of Arcade. “OpenAI’s gpt-image-1 is the most powerful image editing tool we have tested, and integrating it into Arcade allows consumers to find exactly what they are looking for by making real-time design adjustments – either to products that others have created on Arcade or products they’ve created themselves – using conversational language. What we’re creating is a new relationship between dreams and reality—one where the exact product you’re looking for can be understood, visualized, and made real instantly.”

Features Available on Arcade:

Natural Language Product Editing, Powered by gpt-image-1: Users can now modify product designs by simply describing changes rather than prompting or using traditional editing tools—turning “change the stone from diamond to ruby” or “remake this rug blue and white” into instant visual transformations.Real-Time Price Updates: As designs change through natural language requests, Arcade’s pricing models dynamically update guaranteed supplier prices to reflect those modifications. Products are made and shipped to consumers by the global community of manufacturers that Arcade has built.Seamless Journey from Concept to Purchase: The user experience from initial design through customization to checkout is enhanced by gpt-image-1, combined with other AI components, to create a unique pathway from AI-generated designs to physical products available for purchase.

This launch further solidifies Arcade’s position at the forefront of AI-driven commerce. Arcade has raised $42M in total funding. The latest announced Series A was raised from Laura Chau of Canaan Partners and Kirsten Green of Forerunner Ventures, with April Underwood of Adverb Ventures and Sol Bier of Factorial Funds participating. Current investors Reid Hoffman, Offline Ventures (Brit Morin), Sound Ventures (Ashton Kutcher), Inspired Capital (Alexa von Tobel), and Torch Capital (Jonathan Keidan) made new investments in the latest round. New angel investors Sara Beykpour, Kayvon Beykpour, Anna Veronika Dorogush, Eugenia Kuyda and Marissa Mayer joined existing angel investors Christy Turlington Burns, Colin Kaepernick, Karlie Kloss, David Luan, and Jeff Wilke.

About Arcade

Arcade is co-founded by Mariam Naficy with the team from her incubator, Heretic Ventures. Naficy, pioneer of the creator economy and founder of Minted and Eve.com, has transformed how products are created, sold and purchased online since 1998.

Arcade brings together the power of generative AI with a global community of independent makers and brands to turn user needs into personalized, immediately priced physical products in a quantity of one. The company enables consumers to speak to manufacturers with images, bridging language and geographic divides, while also creating a system where AI enhances and empowers artistic careers rather than threatening them. Arcade has continuously updated guardrails in place to protect consumers, artists, and brands.

Arcade aims to redefine commerce by offering unprecedented personal choice, expression, and meaning in products.

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SOURCE Arcade