Top 25 Hardware Startup Investors in Iceland (October 2026)

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.

Portfolio highlights

• Axelyf — Building Next-Generation RNA-LNP Therapeutics: experienced drug developers with distinctive technologies - for partners, programs and patients
• AviLabs — AviLabs is revolutionizing how airlines handle disruptions. By combining industry expertise with cutting-edge, passenger-first solutions, we empower airlines to reduce disruptions, enhance the customer experience, and optimize operations.
• 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.

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

Portfolio highlights

• Timefold — Experts in PlanningAI for complex scheduling and routing
• Array Labs — Array Labs is working to provide high-quality 3D imagery on a global scale.
• Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.

Portfolio highlights

• LIGHTYX — LightYX has developed BeamerOne‏‏™, a robotic system that utilizes a precise laser to project any 2D/3D digital plan onto construction surfaces, whether they are flat or curved. This innovation allows construction workers to view the blueprint, accurately scaled, directly on the work surface. This capability enables them to quickly comprehendthe necessary actions with minimal errors.Additionally, the BeamerOne‏‏™ by LightYX facilitates the identification of inconsistencies between the digital plan and the actual construction ("as built") through a mobile app. Workers can effortlessly align the projected plans with the "as built" conditions. Once the adjustments are complete, the worker can save the updated drawing and seek approval from architects or share it with other stakeholders involved in the project.By offering this solution, LightYX ensures that construction workers can accurately implement 2D and 3D plans right from the start, while providing managers with the ability to continually monitor the progress of the layout implementation process.
• Solar Materials — Solar Materials primarily engages in the development of technologies for the sustainable and economical recycling of solar modules.
• Noble Gas Systems — Noble Gas manufactures high pressure, safe, light-weight, conformable gas storage and delivery for all compressed gasses, including nitrogen, air, oxygen, hydrogen and natural gas.

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.

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.

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.

Portfolio highlights

• Luffy AI — Discover Luffy AI's Neuroplastic AI for rapid, adaptive industrial control in robotics, drives, automotive, and more. Enhance system performance and reduce calibration needs. Replace or complement PID loops with Adaptive Control for your Physical AI usecase.
• Geopyörä Oy — Geopyörä is the state of the art in rock breakage characterization testing and it was developed to allow mining companies to test several samples at low cost for geometallurgical, comminution design and control applications
• Rithmik Solutions — We increase uptime in mines with advanced analytics that optimize maintenance and extend equipment life.

Portfolio highlights

• Quanscient — Quanscient develops multiphysics simulation software utilizing quantum computing algorithms to improve simulation technology. Its Computer Aided Engineering (CAE) platform integrates a unique combination of cloud-native multiphysics solvers, advanced cloud computing, and future quantum integration. The platform also offers engineers over ahundredfold increase in simulation throughput to enable fully digital R&D processes, addressing complex technology challenges in industries like fusion energy, 6G/7G, advanced semiconductors, biomedical, automotive, and aerospace.
• SNERPA Power — SNERPA Power develops intelligent energy services.
• Augmented Hearing — Read more about danish audiology scale-up Augmented Hearing, driving the world's most ambitious audiology solutions and innovations.

Portfolio highlights

• GRID — GRID is the spreadsheet engine for agentic products. Install from npm with a free evaluation license, build with your agent, and license commercially when you ship.
• Travelade — Find recommendations and local insights from all across the world. Discover hidden gems, book experiences with best price guaranteed, create epic stories.
• Aldin Dynamics — Aldin creates believable realities designed for presence & immersion.

Portfolio highlights

• Honig Games — Honig Games is a mobile gaming company that builds and distributes high-quality games designed to be shared and experienced together. The company uses a multi-platform distribution approach to reduce reliance on any single app store for user acquisition. It incorporates AI-first development strategies to scale game production efficiently andsustainably. The studio focuses on creating mobile-first games that encourage community sharing and viral engagement.
• Seven Stars — De perfecte match in IT. Die maken wij. Als IT-flex regisseur en specialist in IT-bemiddeling verbinden we professionals met de beste IT-opdrachten. Snel, soepel en zonder gedoe. We make IT spark.
• Seven Stars — Seven Stars is a startup for creating captivating mobile games with a talented, diverse team.

Portfolio highlights

• Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.

Portfolio highlights

• Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.

Portfolio highlights

• Kopra Bio — Cancer immunotherapy that turns cancer cells into biofactories minting their own destruction.
• Inherent — Recursively self-improving to discover new knowledge.
• Lightyear — Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers and fees.

Portfolio highlights

• Orb — Orb's groundbreaking technology is leveraging the latest advances in computer vision and AI for on-site forest assessment with phones, reducing cost by 90% Orb's carbon and biodiversity platform delivers unmatched data and and transparency, maximising value of each carbon credit.
• LearnCove — LearnCove provides businesses with a modular and easy-to-use training platform for high-quality training across markets and cultures.
• SNERPA Power — SNERPA Power develops intelligent energy services.

Portfolio highlights

• Genis — Genis is pioneering the development and application of therapeutic chitin derivatives.
• Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.
• 3Z Pharmaceuticals — 3Z Pharmaceuticals provides research services intended to provide drug development services. It offers drug screening on sleep and epilepsy assays that helps in the development of drugs used to treat neurological disorders, enabling patients to get multiple drug efficacy and toxicity assays.Karl Karlsson and Haraldur Thorsteinsson founded 3ZPharmaceuticals in 2008. It based their company on their research on the sleeping patterns of the zebrafish at the Reykjavik University Neurolab in 2006.

Portfolio highlights

• Sortera Technologies — Sortera Alloys manufactures low-cost, high-quality metal alloys for domestic manufacturing using its artificial intelligence technology. Sortera Alloys is a company based in Fort Wayne, Indiana, and was established in 2020.
• Multiscale AI — Multiscale Technologies developed an AI platform that accelerates R&D and the discovery of new materials by 100X. The platform digitizes all forms of data (tabular, pdf, simulations etc.) and uses its own unique knowledge fusion platform to connect experiments, simulations, and materials domain expertise to provide predictive analyses andrecommendations for any manufacturing company that does R&D for new materials in their current/future products.
• DTE ehf — DTE introduces breakthrough real-time process control analytics for metals production and processing towards Industry 4.0, through our robotic hardware and software solutions, automating current manual sampling processes for improved quality, cost, efficiency and safety.

Portfolio highlights

• Axelyf — Building Next-Generation RNA-LNP Therapeutics: experienced drug developers with distinctive technologies - for partners, programs and patients
• Meniga — Meniga helps banks use data to drive Digital Engagement, build Customer Loyalty & increase Revenue.
• Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.

Portfolio highlights

• Tulipop — The enchanting world of Tulipop, dreamt up by mother of two Signy and brought to market by her best friend Helga, is an original, beautiful and magical children's range unlike any other. Both cuddly and gothic and strongly inspired by forms and colours in nature, the Tulipop world features intriguing characters such as Bubble, a shy and dreamymushroom boy and Gloomy, an adventurous mushroom girl, who loves surprises and cheeky little pranks - challenging gender stereotypes.
• Laki Power — We supply power grid operators with advanced high-voltage line monitoring stations that enable them to optimise performance, safety and cost.
• DTE ehf — DTE introduces breakthrough real-time process control analytics for metals production and processing towards Industry 4.0, through our robotic hardware and software solutions, automating current manual sampling processes for improved quality, cost, efficiency and safety.

Portfolio highlights

• Silent Flyer — Silent Flyer is a flapping-wing bird-like drone with wings that can morph their shape during flight and fold unto the body. The Silent Flyer is manufactured by Flygildi ehf, Reykjavik, Iceland.

Portfolio highlights

• Silent Flyer — The Silent Flyer is an autonomous bird-like flapping-wing drone developed in co-operation with Reykjavik University. The Silent Flyer uses flapping flight for lift and propulsion instead of a propeller. The unique wing design allows independent real-time control of the wings for flapping, tilting the wings, moving the wings back and forth and inand out (morphing). The wings can also be folded to the body of the bird for easy transport. Later on the wing design will enable the device to hover. The Silent Flyer combines the capabilities of a multi-rotor device such as a quad-copter and a fixed-wing airplane.

Portfolio highlights

• Solid Clouds — Solid Cloud Games ehf. develops cross-platform gaming solutions. Solid Clouds aims to be one of the leading MMORTS developers in the world, they are currently developing PROSPER a cross-platform MMORTS game.

Portfolio highlights

• Greenqloud — Greenqloud is a software company focusing on our premier software, Qstack.Qstack is a leading Cloud Management Platform (CMP) that has a proven track record of deploying private cloud solutions at scale for both Service Providers and Global Enterprises. Qstack is hypervisor agnostic supporting KVM, VMware, Hyper-V and bare-metal provisioning.With Qstack native hybrid cloud capabilities you can manage both your internal infrastructure as well as your public cloud usage (AWS and Azure).Qstack has a Kubernetes based container and application orchestration layer that allows DevOps teams to easily deploy CD/CI applications and microservices. Companies can safely deliver instant access to a portfolio of cloud resources and leverage on Qstack’s powerful user-interface and EC2 compliant API.Qstack has empowered global enterprises to adopt a true cloud and infrastructure management solution while maintaining full control and cost transparency. Learn more at qstack.comFounded in 2010 in Iceland, the company initially developed, launched and sold public cloud computing services known commonly as infrastructure-as-a-service (IaaS), powered by data centers using 100% renewable energy in Iceland. In 2014 it pivoted to focus solely on Qstack development drawing from its immense experience from running a public cloud for 4+ years with thousands of users from over 80 countries and key components development for open source projects like Apache Cloudstack.

Portfolio highlights

• Cofense — Cofense provides phishing threat management for organizations concerned about human susceptibility. Cofense’s intelligence-driven platform turns employees into an active line of defense by enabling them to identify, report, and mitigate spear phishing, malware, and drive-by threats.Cofense’s customers include the defense industrial base, energy,financial services, healthcare, and manufacturing industries, as well as other Global 1000 entities that understand changing user security behavior, will improve security, aid incident response, and reduce the risk of compromise.
• Circumvent — Proactive cloud security platform designed to help cloud and security teams cut through the noise and take immediate action on what matters most.
• Stanhope AI — Stanhope AI is a deep-tech startup based in London with a strong background in neuroscience, robotics and fintech. We are bringing Active Inference to market as a novel framework for autonomous decision-making. To contend with the challenges of contemporary AIs, our distinct approach aims to offer