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Top 10 Enterprise Software Startup Investors in Iceland (September 2026)

The most active venture capital funds and angel investors investing in Iceland Enterprise Software startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Iceland Enterprise Software startup companies. Find investors to raise a Seed, Series A or Venture - Series Unknown round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Frumtak Ventures
VC Fund
5 Iceland, Estonia, United States Seed, Series A Software, Information Technology, SaaS $974k–$20M
New Business Venture Fund
VC Fund
4 Iceland, United States, China Seed, Venture - Series Unknown Software, Health Care, SaaS $400k–$3.8M
Export and Investment Fund
VC Fund
1 Denmark, United States, United Kingdom Seed, Series A Software, Biotechnology, Health Care $395k–$43M
TM
VC Fund
1 Iceland Corporate Round, Venture - Series Unknown SaaS, Travel, Software
Seed Capital
VC Fund
1 Denmark, United States, United Kingdom Seed, Series A Software, Health Care, SaaS $549k–$17M
Capital A Partners
VC Fund
1 United States, Sweden, India Seed, Series A Software, 3D Printing, 3D Technology $270k–$7M
Shubert Organization
VC Fund
1 Israel, Iceland Corporate Round, Venture - Series Unknown Audio, Big Data, Analytics
Founders Ventures
VC Fund
1 France Seed Software, Blockchain, Agriculture
Eyrir Invest
VC Fund
1 Iceland Venture - Series Unknown Fuel, Energy, Big Data $12M–$14M
Brunnur Ventures
VC Fund
1 Iceland, United States, Japan Seed, Series A, Venture - Series Unknown Software, SaaS, Gaming $800k–$16M
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Investor list

Frumtak Ventures
VC Fund · Reykjavík, Gullbringusysla, Iceland · 5 investments in Iceland Enterprise Software 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 initialticket size usually ranges from €1 million to €3 million.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A
  • Geography: Iceland, Estonia, United States

Investor stats

  • Total investments: 43
  • Round size: Seed $974k–$4.7M; Series A $1.2M–$20M
  • Lead/follow: 70% lead, 30% follow
  • Last fund: Likely still investing — raised $87M in 2024

Portfolio highlights

  • Optise — Optise is the self-improving B2B website platform that automatically ships data-driven improvements every week so you get more leads and customers without becoming a website expert.
  • 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 — Euler is a software company focused on addressing the issue of build-to-build and machine-to-machine variability in metal additive manufacturing (AM).
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New Business Venture Fund
VC Fund · Reykjavík, Gullbringusysla, Iceland · 4 investments in Iceland Enterprise Software 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 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.

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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: 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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Export and Investment Fund
VC Fund · Hellerup, Hovedstaden, Denmark · 1 investments in Iceland Enterprise Software startups

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.

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Investment focus

  • Industry: Software, Biotechnology, Health Care
  • Stage:Seed, Series A
  • Geography: Denmark, United States, United Kingdom

Investor stats

  • Total investments: 141
  • Round size: Seed $395k–$11M; Series A $5.9M–$43M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • EvodiaBio — EvodiaBio is a bio-industrial firm that creates natural, sustainable scents for the food and beverage industries. Founded in 2021 and is based in Copenhagen, Capital Region.
  • VentriJect — VentriJect is a is a research facility that incorporates measuring cardiorespiratory fitness into everyone's checkup. They estimate respiratory fitness, which is a simple process. As a health indicator, people can increase their cardiorespiratory fitness. They have compiled a list of some of the other pertinent articles that relate to thesignificance of VO2-max measurement.
  • Kernel — Kernel Holding S.A. is a company incorporated under the laws of Luxembourg and has been listed on the Warsaw Stock Exchange since 23 November 2007. Kernel employs 14,075 people, primarily in farming and sunflower oil production, as well as in grain origination and logistics business owned and operated by the Company.
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TM
VC Fund · Reykjavík, Gullbringusysla, Iceland · 1 investments in Iceland Enterprise Software startups

TM is a company that provides all insurance and damage related services through call, online chats & emails.

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Investment focus

  • Industry: SaaS, Travel, Software
  • Stage:Corporate Round, Venture - Series Unknown
  • Geography: Iceland

Investor stats

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

Portfolio highlights

  • Genis — Genis is pioneering the development and application of therapeutic chitin derivatives.
  • Kaptio — Kaptio develops a travel reservation platform to bring digital transformation to tour operators. They provide reservation technology and incorporate marketing, operations, and finance into one central system for travel operators, along with providing travel-specific consultancy services, technical architecture, delivery, and implementation. Theyenable travel businesses to customer relationship management processes.
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Seed Capital
VC Fund · Copenhagen, Hovedstaden, Denmark · 1 investments in Iceland Enterprise Software startups

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.

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Investment focus

  • Industry: Software, Health Care, SaaS
  • Stage:Seed, Series A
  • Geography: Denmark, United States, United Kingdom

Investor stats

  • Total investments: 197
  • Round size: Seed $549k–$5.5M; Series A $3.8M–$17M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: May invest from a new fund soon — raised $74M in 2021

Portfolio highlights

  • eloomi — eloomi is an LMS platform for your workplace to train, retain & engage employees. Explore impactful learning & development today.
  • Reapplix — Reapplix ApS, a research and development company, identifies blood-derived proteins that improve wound healing, isolates them, and reapplies them to patients with chronic wounds. The company was founded in 2008 and is based in Birkerod, Denmark.
  • Asante Solutions — Asante Solutions was founded more than a decade ago in Denmark. While there, they developed close relationships with a select group of European-based venture capitalists. Backed with venture seed money, they began early stage development of an insulin delivery device that would ultimately become their first product - the Pearl Insulin Pump.
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Capital A Partners
VC Fund · Charleston, South Carolina, United States · 1 investments in Iceland Enterprise Software startups

venture capital and private equity for early stage businesses

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Investment focus

  • Industry: Software, 3D Printing, 3D Technology
  • Stage:Seed, Series A
  • Geography: United States, Sweden, India

Investor stats

  • Total investments: 11
  • Round size: Seed $270k–$7M; Series A $750k–$3.5M
  • Lead/follow: 18% lead, 82% follow
  • Last fund: May invest from a new fund soon — last raise in 2013

Portfolio highlights

  • Chargeup — Empowering drivers, NBFCs, and OEMs through AI-driven financing and asset management solutions for India's EV ecosystem.
  • OpenRatio — Enterprise Mobile Engagement Platform OpenRatio empowers enterprises to rapidly build context-aware and personalised apps to engage with their employees, clients and partners Our mission is engagement: We empower enterprises to rapidly build context-aware and personalised cross platform mobile apps to engage with their employees, clientsand partners.Why engagement? Because the payoff Is evident. Enterprises improve efficiency, productivity. satisfaction and interaction for employees and customers.By licensing OpenRatio mobile platform enterprises will be:------------------------------------------------------------------------------- 1- Cutting mobile development costs by over 80%2 - Move mobile publishing in-house and leveraging your exciting IT department know-how3 - Start building and deploying applications fast4 - Simplicity: Anyone within the organisation can start building and managing enterprise mobile applications5 - Open platform for partners to build modules and plugins 6 - Bring the consumer mobile experience to your enterprise
  • Svenska Aerogel — Svenska Aerogel develops aerogel materials designed to improve thermal insulation, fire protection and energy efficiency across industries
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Shubert Organization
VC Fund · New York, New York, United States · 1 investments in Iceland Enterprise Software startups

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.

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Investment focus

  • Industry: Audio, Big Data, Analytics
  • Stage:Corporate Round, Venture - Series Unknown
  • Geography: Israel, Iceland

Investor stats

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

Portfolio highlights

  • GalaPro — App for accessibility and translation services for live shows and theater. Automated closed captions, audio description and translation every performance
  • Activity Stream — Activity Stream is a marketing platform made exclusively for the event industry.
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Founders Ventures
VC Fund · Zug, Zug, Switzerland · 1 investments in Iceland Enterprise Software startups

Founders Ventures primarily invests in startups leveraging AI and blockchain technology.

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Investment focus

  • Industry: Software, Blockchain, Agriculture
  • Stage:Seed
  • Geography: France

Investor stats

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

Portfolio highlights

  • 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.
  • Irrigeasy — Mobile App for smart irrigation
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Eyrir Invest
VC Fund · Reykjavík, Gullbringusysla, Iceland · 1 investments in Iceland Enterprise Software startups

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

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Investment focus

  • Industry: Fuel, Energy, Big Data
  • Stage:Venture - Series Unknown
  • Geography: Iceland

Investor stats

  • Total investments: 2
  • Round size: Venture - Series Unknown $12M–$14M
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Activity Stream — Activity Stream is a marketing platform made exclusively for the event industry.
  • Carbon Recycling International — Carbon Recycling International (CRI) is the world leader in CO2 to methanol technology. We produce renewable e-methanol from carbon dioxide (CO2), hydrogen (H2), and electricity for energy storage, fuel and chemical applications, efficiency enhancement and carbon emission reduction.
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Brunnur Ventures
VC Fund · Reykjavík, Gullbringusysla, Iceland · 1 investments in Iceland Enterprise Software startups

Brunnur Ventures is a top venture capital firm in Iceland for startups with high-growth potential.

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Investment focus

  • Industry: Software, SaaS, Gaming
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Iceland, United States, Japan

Investor stats

  • Total investments: 33
  • Round size: Seed $1M–$5.3M; Series A $1.5M–$16M; Venture - Series Unknown $800k–$3M
  • Lead/follow: 67% lead, 33% follow
  • Last fund: May invest from a new fund soon — raised $65M in 2021

Portfolio highlights

  • Axelyf — Building Next-Generation RNA-LNP Therapeutics: experienced drug developers with distinctive technologies - for partners, programs and patients
  • AviLabs — AviLabs specializes in software development in aviation.
  • Ghostlamp — Ghostlamp enables brands and agencies to create on-demand micro influencer campaigns, anywhere in the world via the use of an online self-serve platform.
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Enterprise Software Investor funding in Iceland at a glance

Stats across 24 deals from 18 investors.

18
investors
in Iceland Enterprise Software startups
24
deals
in Iceland Enterprise Software startups
$1M
median round
in Iceland Enterprise Software startups
72%
lead investors
lead at least one round
33%
Grant
most common funding stage
94/6
VC / Angel
share of investor count

Access all 18 investors in Iceland Enterprise Software startups.

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