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Top 10 Artificial intelligence VC (Venture Capital) Funds in Iceland in July 2025

Last updated: Jul 2025 A list of 10 VC (Venture Capital) funds that invest in Artificial intelligence startups based in Iceland. We rank investors based on the number of investments they made in Artificial intelligence companies from Iceland. We update this investor list every month.

Top 10 Artificial intelligence VC (Venture Capital) Funds in Iceland in July 2025

Investor	Artificial intelligence Iceland investments
Crowberry Capital	4
Karma Ventures	3
Preceptor Capital	3
byFounders	3
Frumtak Ventures	3
New Business Venture Fund	2
Eyrir Invest	1
Export and Investment Fund	1
Shubert Organization	1
Seed Capital	1

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Investor list

Crowberry Capital invests at seed and early stage in emerging technology ventures in the Nordics. Our mission is to back people that are good for companies and build companies that are good for people. We have a strong follow-through philosophy and commit to putting your company first.

Investment focus

Software, Gaming, Health Care
Seed, Series A, Pre-Seed
Iceland, Denmark, Finland

Portfolio highlights

Tiimo — Tiimo helps you manage your daily life and improve your wellbeing. Visualize your day. Improve your routines. Stress less.
Quanscient — We are building next generation simulation software-as-a-service utilizing Quantum computing algorithms. Our specialty domain of simulations is Computational Electromagnetics.
Porcelain Fortress — Porcelain Fortress was founded by a small band of romantics in the summer of 2016 in Reykjavik, Iceland.

karma.vc is an early stage venture capital fund focusing on seed and early stage technology companies in Europe.

Investment focus

Software, Artificial Intelligence, Information Technology
Series A, Seed, Series B
Estonia, United States, Sweden

Portfolio highlights

Patchstack — Keep your WordPress sites safe from vulnerable plugins & themes. Protect sites with virtual patching.
Swarmia — Build better software faster with insights that power your whole engineering organization. Get started with a demo or a free 14-day trial.
WunderGraph — Full lifecycle API Management for (Federated) GraphQL. Schema registry, composition checks, analytics, metrics, tracing and routing. Deploy 100% on-prem or use our Managed Service. Apache 2.0 licensed, no vendor-lock.

Preceptor Capital is an investment firm.

Investment focus

FinTech, Computer, Software
Seed, Series A
Iceland, United States

Portfolio highlights

Anonybit — Revolutionize identity management with Anonybit! Unmatched privacy, strong authentication, and secure solutions for a safer digital world.
Lucinity — Money laundering is the crime that fuels crime. Lucinity's mission is to Make Money Good® by combining the best of human and artificial intelligence. Lucinity uses Human AI to help banks fight financial crime more efficiently. By designing its AML platform around man and machine, Lucinity allows banks to increase their AML programs'productivity.Lucinity identifies suspicious activity through its proprietary behavior detection system. The approach is entirely risk-based and allows customers to control their risk exposure before efficiently reviewing AML alerts in the Lucinity Case Manager.The company was founded by industry veterans. The core team has experience from Tier-1 banks, international regulators, and leading legacy vendors. Lucinity takes great pride in being the enterprise-ready AML startup that brings the novelty and excitement of a startup and the professionalism and experience of an incumbent.

byFounders is the community-powered early-stage venture fund investing in globally ambitious teams connected to the Nordic and Baltic countries. With its unique Collective of founders and operators, byFounders offers its portfolio operational expertise and a global network. Believing in the power of tech to shape our future, byFounders takes an impact-aware approach to investing and working with the broader startup ecosystem.

Investment focus

Software, Artificial Intelligence, Health Care
Seed, Pre-Seed, Series A
Denmark, United States, Sweden

Portfolio highlights

SKYE — Enabling industries to intelligent participate in the electricity market, leveraging what they already have: electrical assets.
IXI — Discover adaptive glasses with autofocus lenses that adjust to your viewing needs, providing seamless clarity at any distance.
Arsenale Bioyards — Arsenale is making industrial-scale biomanufacturing via precision fermentation economically viable for the very first time.

At Frumtak Ventures, we champion founders who have demonstrated early traction and have potential to become global leaders in their space. We take a concentrated, high-conviction, and high-involvement approach to investing and dedicate ourselves to collaboratively work with our portfolio companies from the seed stage through IPO. Our initialticket size usually ranges from €1 million to €3 million.

Investment focus

Software, Information Technology, Enterprise Software
Seed, Funding Round, Series A
Iceland, United States, United Kingdom

Portfolio highlights

PLAIO — The only AI-assisted decision-making platform developed for pharmaceutical supply chain planning
Moombix — Join us for the launch of our advanced learning platform for online music lessons
Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.

The New Business Venture Fund is an evergreen investment fund that actively contributes to the development and growth of the Icelandic economy by investing in promising innovation and start-up companies.The New Business Venture Fund invests at seed and early stage in promising growth companies with great business ideas and strong management anddevelopment teams.The New Business Venture Fund is a state owned investment fund intended to strengthen and develop the Icelandic venture capital market along with promoting startups and business in Iceland thus encouraging economic growth.

Investment focus

Software, Health Care, Medical
Seed, Funding Round, Series A
Iceland, United States, China

Portfolio highlights

HorseDay — HorseDay is a mobile application to track horse activities.
Spectaflow — Spectaflow is a SaaS solution for accommodations businesses focused on improving housekeeping and maintenance workflows
PayAnalytics — PayAnalytics, a leading pay equity and workforce analytics solution, aids companies in closing pay gaps and fostering workplace equity. Ensure compliance with pay transparency regulations, assess wage disparities, and analyze workforce demographics conveniently.

Eyrir Invest is an international investment company that focuses on investments in industrial companies that have the potential to become true global leaders.

Investment focus

Big Data, Analytics, Enterprise Software
Funding Round
Iceland

Portfolio highlights

Activity Stream — Activity Stream is a marketing platform made exclusively for the event industry.

Denmark's Export and Investment Fund (EIFO) serves as a single point of contact for Danish firms seeking risk-tolerant government finance. We aspire to help successful enterprises that can expand the Danish economy and green the world on a daily basis, guided by professionalism and an international perspective.

Investment focus

Software, Biotechnology, Information Technology
Seed, Series A, Funding Round
Denmark, United States, United Kingdom

Portfolio highlights

Saildrone — Saildrone is the world leader in oceangoing autonomous surface vehicles, providing unrivaled payload, range, and reliability from an uncrewed system.
Fuse Vectors — Fuse Vectors is disrupting the manufacturing process in order to provide universal access to gene therapy.
Sparrow Quantum — Sparrow Quantum, a global leader in quantum photonic chip technology. Explore innovative solutions driving advancements in quantum computing, communication, and beyond. Stay ahead with cutting-edge technologies shaping the future.

Shubert Organization owns, operates, and manages theatres in New York; and Philadelphia, Pennsylvania.The organization also produces plays and musicals in New York City and other parts of the United States; operates a ticketing agency for theatres in New York City; and provides a research repository of theatrical documents and other relateditems. In addition, the company offers a source for various ticketing needs, including box office, telephone, internet, season and subscription, group, and more sales to various segments of the entertainment industry.Shubert Organization was formerly known as Select Theatres Corporation and changed its name to Shubert Organization in 1973.The company was founded in 1900 and is based in New York, United States. It operates as a subsidiary of The Shubert Foundation, Inc.

Investment focus

Big Data, Analytics, Enterprise Software
Funding Round
Iceland

Portfolio highlights

Activity Stream — Activity Stream is a marketing platform made exclusively for the event industry.

Seed Capital invests in Danish tech businesses with global ambitions. We are focused on "late seed"-stage companies, typically investing 1-3 MEUR in rounds of 1-6 MEUR. Proud backers of Trustpilot, Vivino, Lunar, Templafy, Dixa, Forecast, and many other great companies.

Investment focus

Software, Health Care, SaaS
Seed, Funding Round, Series A
Denmark, United States, United Kingdom

Portfolio highlights

Tembi — Market Intelligence platform with deep market data, insights and predictions for B2B companies that look for a competitive edge.
Fortiv — We help enterprise Resilience teams implement a Business Continuity Management System
Embankment Group — Specializing in environmental recruitment, we connect top talent with leading projects. Contact us for tailored job searches today!

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