Top 5 Education VC Funds &amp; Investors in Iceland (June 2026)

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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We help people grow and build decentralized companies

Investment focus

Industry: Software, Health Care, B2B
Stage:Seed, Pre-Seed
Geography: Iceland, India, Israel

Investor stats

Total investments: 12
Round size: Seed $500k–$3M; Pre-Seed $950k–$1M
Lead/follow: 25% lead, 75% follow
Last fund: May invest from a new fund soon — raised $5M in 2019

Portfolio highlights

Soptle — Founded in Sep 2021, Soptle started to establish an integrated technology to the neglected regional FMCG Manufacturers in India with a B2B Retail Commmerce App. It uses tech and data to distribute at scale and use necessary components (existing Distributor/Wholesaler) in the FMCG Supply Chain to build a high growth and profitable business.
Expertrons — Expertrons is an upskilling platform that offers advanced training programs | BSFI | HR | Marketing and many more to assure 100% professional success.
Nanom — Greenvolt Nano creates nano-enhanced materials for use in battery technology. It provides a pathway to clean, inexpensive, and renewable energy sources while reducing environmental toxicity. And makes products smarter, efficient, and longer lasting. It is founded in 2017.

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Sisu Game Ventures is an early-stage venture capital fund focused 100% on games. We set up shop in 2014 to support the most promising founders in the industry. Sisu has deep roots in the Nordic region, but our network of founders is fully global.The Sisu team consists of Samuli, Paul, Erik, Kalle, Moaffak, Kadri, and Jere - all of whom haveextensive backgrounds in the game industry and startup circles, both as entrepreneurs and investors. We've founded and built sixteen game companies since the early 90s and had several successful exits. Apart from funding companies, the team uses their expertise to act as a studio builder. Individual founders are supported in building their team, honing their product strategy and in gathering the right group of investors.

Investment focus

Industry: Gaming, Video Games, Software
Stage:Seed, Series A
Geography: Finland, United States, Germany

Investor stats

Total investments: 54
Round size: Seed $576k–$4.6M; Series A $6.1M–$38M
Lead/follow: 22% lead, 78% follow
Last fund: Likely still investing — raised $50M in 2021

Portfolio highlights

emptyvessel — Emptyvessel is a gaming community that helps in crafting the new horizons of gaming.
Torpor Games — Torpor Games is a video game company that offers PC, switch, android, and iOS game development services.
Antihero Studios — Antihero Studios creates multiplayer mobile games focused on social interaction and community engagement.

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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

Industry: Software, Gaming, Health Care
Stage:Seed, Series A, Pre-Seed
Geography: Iceland, Denmark, Finland

Investor stats

Total investments: 48
Round size: Seed $1.6M–$4.7M; Pre-Seed $1k–$1.3M; Series A $5.7M–$17M
Lead/follow: 50% lead, 50% follow
Last fund: Likely still investing — fund raised in 2021

Portfolio highlights

Prescriby — Prescriby is a digital treatment system developer to combat the opioid crisis by improving prescription safety and monitoring.Prescriby features a treatment generator and dashboard monitor to simplify complex health information, allowing clinics to give individualized data-driven therapies and safer monitoring for their customers.
Dreamdata — Dreamdata is a B2B Revenue Attribution Platform that gathers, joins, cleans all revenue-related data to present transparent, actionable analysis of what drives B2B revenue. The ultimate B2B multi-touch attribution tool for multi-techstack businesses.
Mainframe Industries — Mainframe Industries is a Reykjavik, Iceland and Helsinki, Finland-based startup working on the development of an open world, social sandbox MMO for cloud gaming.The company will will work on an open-world, social sandbox MMO specifically designed for cloud gaming, with cross-platform play across mobile, PC, and TV. Mainframe believes that thepromise of friction-free access from social networks and streaming platforms on the device of your choice will greatly expand the creative canvas for game developers.

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