Top 10 Community Startup Investors in Iceland (October 2026)

Index Ventures is an international venture capital firm with dual headquarters in San Francisco and London, investing in technology-enabled companies with a focus on e-commerce, fintech, mobility, gaming, infrastructure/AI, and security.

Investment focus

Industry: Software, Artificial Intelligence, SaaS
Stage:Series A, Series B, Seed
Geography: United States, United Kingdom, France

Investor stats

Total investments: 1579
Round size: Seed $1.5M–$16M; Series A $5M–$35M; Series B $12M–$102M
Lead/follow: 44% lead, 56% follow
Last fund: Likely actively investing — fresh fund, raised $400M in 2026

Portfolio highlights

PanGenetics — PanGenetics B.V. develops monoclonal antibodies for the treatment of immune mediated diseases.PanGenetics is a clinical development company that specializes in taking antibodies from the late research stage through to clinical proof of concept. The company is based in Utrecht, the Netherlands with an office in Cambridge, UK. PanGenetics employsa lean business model with manufacturing and clinical development activities outsourced to specialist providers. Apart from PG110, the other clinical program of PanGenetics is PG102, a CD40 antagonist for treatment of autoimmune diseases which is currently being evaluated in a clinical study in psoriatic arthritis patients
Acutus Medical — Acutus Medical develops medical technologies to treat complex cardiac arrhythmia. The company's platform displays the heart’s true activation pattern, turning the chaos of a complex arrhythmia into a clear vision for electrophysiologists.Acutus Medical is a privately funded company founded in 2011 and based in Carlsbad, California. Itsproducts are co-developed in the U.S. and Europe with an exceptional team of medical scientists, biomedical engineers, and other professionals.It was founded in 2011 and headquartered in Carlsbad, California.
The Cambridge Satchel Company — Beautiful leather satchels and music bags in a variety of sizes, colours - backpack or shoulder strap styles. Made in England, the traditional school satchel is back and looking better than ever.

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Shanda Group is a private investment firm that was founded in 1999 by Tianqiao Chen and Chrissy Luo. The company works across venture capital, private equity, public markets, and real estate, prioritizing investments in the financial services, technology, and healthcare sectors. Shanda has offices in Shanghai, Hong Kong, New York, Singapore andMenlo Park. It invests in innovative companies and great management teams that have the vision and determination to change the world.

Investment focus

Industry: Artificial Intelligence, Software, Health Care
Stage:Seed, Series A, Pre-Seed
Geography: United States, China, Israel

Investor stats

Total investments: 42
Round size: Seed $839k–$11M; Pre-Seed $100k–$750k; Series A $5.6M–$44M
Lead/follow: 33% lead, 67% follow

Portfolio highlights

MiroFish — The World's First Open-Source Swarm Agent Prediction System. Web: https://t.co/F7gQDy0yXO Github: https://t.co/9MhcLAIs7N Discord: https://t.co/wCnMAT2I8f IG: @mirofish_ai
Buildroid — Buildroid is a robotics company that develop a humanoid robot for construction purpose. Buildroid AI bringing robotics and AI to the construction site.We transform active job sites by integrating specialized robots directly into contractor workflows. Our AI platform connects BIM models with real-world execution through Digital Twin simulations andproprietary orchestration software. We’re partnering with developers, contractors, and government bodies to bring robotics to large-scale projects. Only a few pilot slots remain for 2025 — contact us today to reserve yours and receive a tailored ROI calculation.
Trener Robotics — Trener Robotics develops AI software that enables industrial robots to operate autonomously, adapt to variability, and deploy faster in manufacturing.

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Reaktor Ventures they invest in seed stage companies and helps them to create markets.

Investment focus

Industry: Software, Internet, E-Commerce
Stage:Seed, Pre-Seed, Series A
Geography: Finland, Germany, United States

Investor stats

Total investments: 60
Round size: Seed $137k–$2.1M; Pre-Seed $158k–$1.8M; Series A $1.7M–$6.8M
Lead/follow: 13% lead, 87% follow

Portfolio highlights

Valpas — Valpas is the hygiene protocol that reassures your future guests and keeps your hotel clean from the most uncontrollable: bed bugs
allies.digital — Allies is a match-making platform curating businesses with IT-, digital and creative agencies. No more miss-matches when buying IT & creative services.
StarBerry Games — StarBerry Games GmbH is a mobile games company based in Berlin, Germany. The company develops free-to-play casual mobile games and is best known for its games Merge Mayor and Idle Coffee Corp.

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Since 2005, Inventure has backed over 90 companies including Wolt, Swappie, Jobbatical, aiMotive, and more.

Investment focus

Industry: Software, Information Technology, Artificial Intelligence
Stage:Seed, Series A, Series B
Geography: Finland, Sweden, United States

Investor stats

Total investments: 180
Round size: Seed $549k–$6M; Series A $1.3M–$17M; Series B $1.3M–$25M
Lead/follow: 48% lead, 52% follow
Last fund: Likely still investing — raised $140M in 2022

Portfolio highlights

Lassie — Lassie is the first proactive and preventive pet insurance company that wants to help pet owners take better care of their pets
Capalo AI — We maximize the value of your energy storage systems. Now and in the future.
Algorithmiq — Algorithmiq utilizes its expertise in quantum information, complex systems, and computational physics to develop algorithms to develop new and effective drugs, solve problems in life sciences, and discover new materials.

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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

Industry: Software, Health Care, SaaS
Stage:Seed, Venture - Series Unknown
Geography: Iceland, United States, China

Investor stats

Total investments: 44
Round size: Seed $400k–$2.6M; Venture - Series Unknown $1.2M–$3.8M
Lead/follow: 61% lead, 39% follow

Portfolio highlights

Sowilo — Sowilo created Catecut, a platform-agnostic technology that leverages artificial intelligence to detect fashion products and design elements in store product photos.
Sundra — Sundra turns the materials you already have into structured training courses in hours, then delivers them in 70+ languages. Built for HR and L&D teams.
Arcana Bio — ArcanaBio is developing realtime biosurveillance solutions that minimize workplace disruptions and support health & wellness

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David is a technologist, the founder of Unity Technologies, non-exec director to others, and a restless entrepreneur with a passion for creating feedback loops between innovation and teams and products, applying new and old business models to changing industries, and pushing people to do the very best they can do.David's background is inprogramming, an assortment of university dabbling, creating companies, and helping entrepreneurs. He served as CEO of Unity Technologies since co-founding it in 2003 and until October 2014, with an unflinching vision to democratize game development, and to develop technology and business models for the next phase of the games industry. David Helgason attended the University of Copenhagen.

Investment focus

Industry: Software, Gaming, Artificial Intelligence
Stage:Seed, Series A, Pre-Seed
Geography: United States, Denmark, Finland

Investor stats

Total investments: 81
Round size: Seed $1M–$8.3M; Pre-Seed $242k–$2.4M; Series A $5.4M–$30M
Lead/follow: 4% lead, 96% follow

Portfolio highlights

ScyAI — Risk intelligence that thinks with you.
Noah — API-first stablecoin payments, enterprise-grade compliance and real-time settlements, powered by stablecoin technology.
Flow Engineering — Requirements management, made collaborative

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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

Industry: Software, Information Technology, SaaS
Stage:Seed, Venture - Series Unknown
Geography: Iceland, Estonia, United States

Investor stats

Total investments: 46
Round size: Seed $974k–$4.7M; Venture - Series Unknown $1.2M–$14M
Lead/follow: 70% lead, 30% follow
Last fund: Likely still investing — raised $87M in 2024

Portfolio highlights

MyDello — Get instant quotes for all transportation modes. Enter a new era of freight forwarding with the MyDello logistics platform. Sign up for free
50skills — Bring people, information and tools together. 50skills is a hiring system and so much more.
Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.

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Atomico invests in innovative technology companies around the world.

Investment focus

Industry: Software, Artificial Intelligence, Information Technology
Stage:Series A, Series B, Series C
Geography: United Kingdom, United States, Germany

Investor stats

Total investments: 269
Round size: Series A $5.2M–$30M; Series B $13M–$90M; Series C $24M–$300M
Lead/follow: 41% lead, 59% follow
Last fund: Likely still investing — raised $1.1B in 2023

Portfolio highlights

CADDi — CADDi analyzes and connects manufacturing data fragmented across departments, locations, and systems, turning it into an enterprise asset. It uses AI to transform how manufacturers make decisions and execute work.
Betable — Betable is a casino-first, technology-led iGaming platform. Launch and scale casino, sportsbook, player accounts, payments, CRM and compliance on one stack.
The Exploration Company — For Space & Non-Space Industries.

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Kjartan Olafsson is an entrepreneur and angel-investor-on-occasion with one foot in New York and the other in Iceland. Kjartan is the owner of Volta Labs Venture Development (Volta.is) and the founder of Basno.com, a platform for digital goods. He sits on the board of directors at a handful of companies and organizations in Iceland and theU.S., including Basno and Datamarket.com. Previously Kjartan served as the Director of Business Development for the international media company Bertelsmann Inc. in New York. Kjartan studied philosophy and logic in Iceland and Italy, and holds a master’s degree in business administration from the Harvard Business School.

Investment focus

Industry: Software, B2B, Apps
Stage:Angel, Series A
Geography: Denmark, Iceland

Investor stats

Total investments: 2
Lead/follow: 50% lead, 50% follow

Portfolio highlights

Taktikal — Simple and secure digital signatures Offer high-end signatures to save both your business and your customers valuable time and cost.
Watchbox — Watchbox combines technology and the elements of team-building to unite local and distributed teams. Employees capture all the great things at work or outside of work, with photos and videos. These moments vary from random highlights at work, events, celebrations, and conferences to something interesting in employees’ personal lives outside ofwork. Posts can be viewed in the app, but are also displayed 24/7 in dedicated Watchbox display units, placed in common areas across the ofﬁce. Watchbox provides fun Concepts designed to motivate diverse content creation that reinforces positive culture.

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