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Top 10 Community Startup Investors in Iceland (October 2026)

The most active venture capital funds and angel investors investing in Iceland Community startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Iceland Community startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Index Ventures
VC Fund
3 United States, United Kingdom, France Series A, Series B, Seed Software, Artificial Intelligence, SaaS $1.4M–$102M
Inventure
VC Fund
2 Finland, Sweden, United States Seed, Series A, Series B Software, Information Technology, Artificial Intelligence $549k–$25M
Reaktor Ventures
VC Fund
2 Finland, Germany, United States Seed, Pre-Seed, Series A Software, Internet, E-Commerce $151k–$6.8M
New Business Venture Fund
VC Fund
2 Iceland, United States, China Seed, Venture - Series Unknown Software, Health Care, SaaS $400k–$3.8M
Shanda Group
VC Fund
2 United States, China, Israel Seed, Series A, Pre-Seed Artificial Intelligence, Software, Health Care $100k–$44M
Kjartan Olafsson
Angel
1 Denmark, Iceland Angel, Series A Software, B2B, Apps
David Wallerstein
Angel
1 United States, Israel, Germany Seed, Series B, Series A Mobile, Health Care, Artificial Intelligence $1.6M–$90M
David Helgason
Angel
1 United States, Denmark, Finland Seed, Series A, Pre-Seed Software, Gaming, Artificial Intelligence $242k–$30M
Frumtak Ventures
VC Fund
1 Iceland, Estonia, United States Seed, Venture - Series Unknown Software, Information Technology, SaaS $974k–$14M
Atomico
VC Fund
1 United Kingdom, United States, Germany Series A, Series B, Series C Software, Artificial Intelligence, Information Technology $5.2M–$300M
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Investor list

Index Ventures
VC Fund · San Francisco, California, United States · 3 investments in Iceland Community startups

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.

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Investment focus

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

Investor stats

  • Total investments: 1592
  • Round size: Seed $1.4M–$16M; Series A $5M–$35M; Series B $12M–$102M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely actively investing — fresh fund, raised $400M in 2026

Portfolio highlights

  • Anrok — Anrok automates sales tax compliance across your financial stack, so you can grow your SaaS business in any market.
  • Moleskine — Moleskine develops, distributes, and sells notebooks, diaries, portfolios, purses, writing materials, reading articles, and many other products in Italy and internationally.The company offers paper products such as notebooks, diaries, home and office products, and gifts as well as writing, travelling, and reading collections, including pens,pencils, bags, reading glasses, and book lights. It also offers digital services and products comprising templates and applications for smartphones and tablets; Smart Notebook; and print-on-demand services for the creation of photo-books.Moleskine distributes its products in approximately 105 countries through a network of book, department, specialty, and stationery stores as well as museums; its sales network and websites; and a retail network of 30 directly-operated stores, including 9 in China, 12 in Italy, 2 in the United Kingdom, 2 in France, and 5 in the United States.Moleskine was founded in 1997 and is based in Milan, Italy.
  • 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
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Inventure
VC Fund · Helsinki, Southern Finland, Finland · 2 investments in Iceland Community startups

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

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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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Reaktor Ventures
VC Fund · Helsinki, Southern Finland, Finland · 2 investments in Iceland Community startups

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

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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 $151k–$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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New Business Venture Fund
VC Fund · Reykjavík, Gullbringusysla, Iceland · 2 investments in Iceland Community startups

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 and development 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.

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Investment focus

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

Investor stats

  • Total investments: 45
  • Round size: Seed $400k–$2.6M; Venture - Series Unknown $1.2M–$3.8M
  • Lead/follow: 62% lead, 38% 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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Shanda Group
VC Fund · Menlo Park, California, United States · 2 investments in Iceland Community startups

Shanda is a global, privately-owned investment group investing across venture capital, public markets, real estate, natural resources, and philanthropic initiatives.

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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 — MiroFish is an AI prediction engine driven by multi - agent technology.
  • 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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Kjartan Olafsson
Angel · , , Iceland · 1 investments in Iceland Community startups

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 the U.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.

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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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David Wallerstein
Angel · 1 investments in Iceland Community startups

David A.M. Wallerstein, SEVP of Tencent. David joined Tencent in 2001. He oversees the Company’s international business initiatives through identifying cooperation with multinational partners and he is responsible for Tencent’s operations outside mainland China. Prior to Tencent, David was the Vice President, Business Development of MIH inChina, and was involved in Internet strategy and mergers and acquisitions activities in China. Prior to that, David worked as a management consultant in China's telecommunications and IT industries.

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Investment focus

  • Industry: Mobile, Health Care, Artificial Intelligence
  • Stage:Seed, Series B, Series A
  • Geography: United States, Israel, Germany

Investor stats

  • Total investments: 13
  • Round size: Seed $1.6M–$5.8M; Series B $11M–$90M
  • Lead/follow: 31% lead, 69% follow

Portfolio highlights

  • Teatime Games — Teatime Games is an Iceland-based gaming startup that reinvents social games.
  • Lilium — Lilium is developing sustainable, high-speed air mobility through its electric vertical take-off and landing aircraft, vertiports and digital service.
  • Scaled Inference — Artificial Intelligence & Machine Learning Tools
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David Helgason
Angel · Copenhagen, Hovedstaden, Denmark · 1 investments in Iceland Community startups

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 in programming, 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.

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Investment focus

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

Investor stats

  • Total investments: 82
  • Round size: Seed $1M–$8.5M; Pre-Seed $242k–$2.4M; Series A $5.4M–$30M
  • Lead/follow: 4% lead, 96% follow

Portfolio highlights

  • ScyAI — ScyAI twins your assets and your coverage and shows exactly where they diverge.
  • 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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Frumtak Ventures
VC Fund · Reykjavík, Gullbringusysla, Iceland · 1 investments in Iceland Community startups

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 initial ticket size usually ranges from €1 million to €3 million.

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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
VC Fund · London, England, United Kingdom · 1 investments in Iceland Community startups

Atomico invests in innovative technology companies around the world.

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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: 270
  • Round size: Series A $5.2M–$30M; Series B $13M–$90M; Series C $24M–$300M
  • Lead/follow: 40% lead, 60% 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.
  • Scarlet — Scarlet certifies software medical devices. We’re Europe's only Notified Body specialised in software and AI, and have crafted a certification process that is built for software, and is thus significantly more efficient.This is how we deliver on our mission to hasten the world’s transition to accessible healthcare: by enabling manufacturersto release their medical software and AI to those who need it without unnecessary delays.We are designated as a UK Approved Body by the MHRA, and an EU Notified Body by the Dutch Ministry of Health and the European Commission.
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Community Investor funding in Iceland at a glance

Stats across 19 deals from 11 investors.

11
investors
in Iceland Community startups
19
deals
in Iceland Community startups
$108k
median round
in Iceland Community startups
36%
lead investors
lead at least one round
68%
Grant
most common funding stage
73/27
VC / Angel
share of investor count

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