Top 10 Community Startup Investors in Iceland (June 2026)

Reaktor Ventures has moved to the next phase by focusing its efforts to actively supporting current portfolio companies. This means that the fund has ended its investment period and is not investing into new companies. Between 2013 and 2018 we have invested into 42 different companies and one early stage fund. We will naturally keep makingfollow-up investments to current portfolio companies.

Investment focus

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

Investor stats

Total investments: 54
Round size: Seed $137k–$2M; Pre-Seed $159k–$1.8M; Series A $1.7M–$6.6M
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
Swappie — Buy refurbished iPhones at an affordable price - Swappie offers refurbished and cheap iPhones with a free 12-month Swappie warranty.
Videoly — The easiest way for online retailers to get hand-picked and automatically embedded product videos.

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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, Medical
Stage:Seed, Series A
Geography: Iceland, United States, China

Investor stats

Total investments: 38
Round size: Seed $400k–$2.6M; Series A $450k–$3.4M
Lead/follow: 61% lead, 39% follow

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.

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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: 40
Round size: Seed $839k–$11M; Pre-Seed $100k–$750k; Series A $5.6M–$44M
Lead/follow: 35% lead, 65% 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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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, E-Commerce, Internet
Stage:Series A, Series B, Seed
Geography: United States, United Kingdom, France

Investor stats

Total investments: 1091
Round size: Seed $1.3M–$12M; Series A $5M–$35M; Series B $10M–$100M
Lead/follow: 44% lead, 56% follow
Last fund: May invest from a new fund soon — raised $117M in 2015

Portfolio highlights

Cartesia — Cartesia provides real-time multimodal intelligence for all devices. Its objective is to develop the next generation of AI: pervasive, interactive intelligence that operates everywhere.
Personio — Personio is the Intelligent HR platform for companies from 10-5,000 employees, powering over 1 million people worldwide. Book your free demo today.
Persona — Online ID verification service to help any business, from any industry, collect, verify, and manage user identities throughout a customer lifecycle.

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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, Health Care
Stage:Seed, Series A, Series B
Geography: Finland, Sweden, United States

Investor stats

Total investments: 165
Round size: Seed $549k–$6M; Series A $1.3M–$17M; Series B $1.3M–$23M
Lead/follow: 46% lead, 54% follow
Last fund: Likely still investing — raised $169M in 2022

Portfolio highlights

Finch — Optimize building design with AI and graph technology. Get immediate feedback on performance, detect errors and find optimal solutions.
Reveel — Say goodbye to paper maps, brochures, and outdated audio guides. Reveel offers digital solutions for destinations such as UNESCO sites, sights, museums, cities, hotels and parks, taking the visitor experience to the next level. Become part of the smart destination movement, enhance the visitor experience, and discover the future of travel.
ONEiO — ONEiO is a cloud-native integration service provider connecting people, processes, and tools – enabling seamless collaboration without traditional integration hassle. Provided as a turn-key solution, as self-service, or something in between. You choose.

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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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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.

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

Origami Labs — Origami & Company
Teatime Games — Teatime Games is an Iceland-based gaming startup that reinvents social games.
Scaled Inference — Scaled Inference is a U.S.-based company that operates in stealth mode and offers artificial intelligence as a cloud service. It offers a new generation of intelligent software built by the masses and powered by an open shared platform. Scaled Inference was founded in 2014 and is headquartered in Palo Alto, California.

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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, Information Technology
Stage:Seed, Series A
Geography: United States, Denmark, Finland

Investor stats

Total investments: 71
Round size: Seed $1.1M–$8M; Series A $4.3M–$30M
Lead/follow: 1% lead, 99% follow

Portfolio highlights

Yousician — Yousician is a fun way to learn the guitar, piano, bass, ukulele or singing. Enjoy thousands of songs with Yousician as your personal music teacher!
Absurd:Joy — absurd:joy is bringing joy to remote collaboration with Tangle
Noice — Join the team build an awesome combo of social x playful x platform.

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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, Series A
Geography: Iceland, Estonia, United States

Investor stats

Total investments: 40
Round size: Seed $974k–$4.7M; Series A $1.2M–$20M
Lead/follow: 73% lead, 27% follow
Last fund: Likely actively investing — fund raised in 2024

Portfolio highlights

Optise — Optise is an AI-powered website insights tool for B2B businesses.
MyDello — Get instant quotes for all transportation modes. Enter a new era of freight forwarding with the MyDello logistics platform. Sign up for free
Euler —

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