Top 15 Hardware Startup Investors in Iceland in September 2025
A list of 15 angel investors and VC (Venture Capital) funds that invest in Hardware startups based in Iceland. We rank investors based on the number of investments they made in Hardware companies from Iceland. We update this investor list every month.Top 15 Hardware Startup Investors in Iceland in September 2025
Investor | Hardware Iceland investments |
---|---|
Brunnur Ventures | 5 |
New Business Venture Fund | 3 |
Reaktor Ventures | 2 |
Frumtak Ventures | 2 |
Inventure | 2 |
Chrysalix Venture Capital | 2 |
Shanda Group | 2 |
Crowberry Capital | 2 |
Investa | 1 |
Kjartan Olafsson | 1 |
Behold Ventures | 1 |
Hermann Kristjánsson | 1 |
Technology Development Fund | 1 |
Novelis | 1 |
Hermann Kristjánsson | 1 |
Brunnur Ventures is a top venture capital firm in Iceland for startups with high-growth potential.
Show more
Investment focus
- Software, SaaS, Gaming
- Seed, Series A, Funding Round
- Iceland, United States, Denmark
Portfolio highlights
- AviLabs — AviLabs specializes in software development in aviation.
- Laki Power — We supply power grid operators with advanced high-voltage line monitoring stations that enable them to optimise performance, safety and cost.
- Porcelain Fortress — Porcelain Fortress was founded by a small band of romantics in the summer of 2016 in Reykjavik, Iceland.
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.
Show more
Investment focus
- Software, Health Care, Medical
- Seed, Funding Round, Series A
- Iceland, United States, China
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.
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.
Show more
Investment focus
- Software, Internet, Health Care
- Seed, Pre-Seed, Series A
- Finland, Germany, United States
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.
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.
Show more
Investment focus
- Software, Information Technology, Enterprise Software
- Seed, Funding Round, Series A
- Iceland, United States, United Kingdom
Portfolio highlights
- PLAIO — The only AI-assisted decision-making platform developed for pharmaceutical supply chain planning
- Moombix — Join us for the launch of our advanced learning platform for online music lessons
- Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.
Since 2005, Inventure has backed over 90 companies including Wolt, Swappie, Jobbatical, aiMotive, and more.
Show more
Investment focus
- Software, Information Technology, Health Care
- Seed, Series A, Series B
- Finland, Sweden, Denmark
Portfolio highlights
- ReOrbit — Looking for a way to keep your data flowing in space? ReOrbit has you covered with our line of autonomous and inter-networking satellites!
- Hedera Dx — A diagnostics platform that makes liquid biopsies a reality in cancer care
- Hamina Wireless — Fast and simple wireless network design and site survey tools for network engineers and IT admins - For better Wi-Fi, Private 5G, and wireless IoT. Get started in just 2 minutes!
Leading global venture capital fund that invests in resource intensive industries across North America and Europe.
Show more
Investment focus
- Energy, Manufacturing, CleanTech
- Series B, Series A, Funding Round
- United States, Canada, The Netherlands
Portfolio highlights
- General Fusion — General Fusion is developing fusion energy: a clean, safe, abundant and on-demand approach to generating electricity.
- Q5D Technology — Additive manufacturing with conductors. Eliminate traditional wiring, saving space and weight. Unique 5-axis robots add power and data functions to products. Simplify supply chains and manufacturing. Transform productivity with our hardware, software, and support.
- VerAI Discoveries — VerAI Discoveries is disrupting Mineral Exploration by deploying a revolutionary Artificial Intelligence Platform that detects concealed mineral deposits.
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.
Show more
Investment focus
- Biotechnology, Artificial Intelligence, Health Care
- Seed, Series A, Pre-Seed
- United States, China, Israel
Portfolio highlights
- Xunlu AI — Xunlu AI is an innovative startup that focuses on the development of AI-powered customer service technologies. Xunlu AI provides AI intelligent customer service and sales robots to businesses in a variety of industries via highly tailored AI solutions, assisting businesses in achieving their goals of cost reduction and increased productivity.
- Mojo Vision — Mojo Vision is a developer of augmented reality products and platforms intended to invent the future of computing. The company has developed a smart contact lens with a built-in display that gives timely information without interrupting the focus and delivers immediate, powerful, and relevant information without the intrusions of today'smobile devices, enabling users to connect with others at a glance, anytime, anywhere handsfree.Mojo Vision was founded in 2015 and headquartered in Saratoga, California.
- Rubedo Life Sciences — Rubedo Life Sciences is the Premier Longevity Company. Rubedo discovers and develops medicines to keep you biologically young.
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.
Show more
Investment focus
- Software, Gaming, Health Care
- Seed, Series A, Pre-Seed
- Iceland, Denmark, Finland
Portfolio highlights
- Tiimo — Tiimo helps you manage your daily life and improve your wellbeing. Visualize your day. Improve your routines. Stress less.
- Quanscient — We are building next generation simulation software-as-a-service utilizing Quantum computing algorithms. Our specialty domain of simulations is Computational Electromagnetics.
- Porcelain Fortress — Porcelain Fortress was founded by a small band of romantics in the summer of 2016 in Reykjavik, Iceland.
Investa is an early stage investor in some of Iceland's most innovative startups. It invests primarily in companies in the technology sector offering products and solutions that have an international appeal.Its policy is to invest in a select few startups and spend a lot of time with them. In addition to investing, the company also providevarious advisory services from time to time to companies, investors and institutions that need help evaluating new opportunities.
Show more
Investment focus
- Software, SaaS, Crowdsourcing
- Seed, Angel
- Iceland, United States
Portfolio highlights
- GRID — Spreadsheets run the world and we run spreadsheets.
- 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.
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.
Show more
Investment focus
- Software, B2B, Apps
- Angel, Series A
- Denmark, Iceland
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.
Behold Ventures is a venture capital fund supporting early-stage video game startups led by passionate entrepreneurs shaping the future of interactive entertainment.
Show more
Investment focus
- Gaming, Sports, eSports
- Seed, Pre-Seed
- Sweden, Iceland, United States
Portfolio highlights
- Dead Astronauts — Dead Astronauts reinvents open-world game experiences with technical innovation at the core of the company and PLAYER CREATIVITY at the core of the games we make.
- Porcelain Fortress — Porcelain Fortress was founded by a small band of romantics in the summer of 2016 in Reykjavik, Iceland.
- Blue Scarab Entertainment — Blue Scarab Entertainment is Stockholm-based video game studio developing a surprising MMORPG for fans of cozy escapism, true-crime, supernatural mystery, and horses.
Hermann Kristjánsson - CEO & Managing Director @ Vaki
Show more
Investment focus
- Drones, Electronics
- Seed
- Iceland
Portfolio highlights
- Flygildi ehf — 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.
The role of the fund is to support research and development activities, which aim towards innovation in Icelandic industry. The Technology Development Fund is a competitive fund which issues its calls for proposals twice a year.
Show more
Investment focus
- Software, Health Care, Manufacturing
- Grant, Seed
- Iceland, United States, Japan
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.
- Abler — Abler brings simplicity to the complexities of team management. With easy scheduling, messaging, payment, and data tools, Abler empowers users to spend more time cultivating the essential life skills and values learned through sports and other organised activities.
Discover Novelis, the world leader in aluminum rolling and recycling. Learn how our innovative solutions and sustainability initiatives drive the future of lightweight, durable, and recyclable aluminum for industries worldwide.
Show more
Investment focus
- Information Technology, Manufacturing, Artificial Intelligence
- Series A, Seed, Series B
- United States, Iceland, United Kingdom
Portfolio highlights
- Sortera Technologies — Sortera Alloys manufactures low-cost, high-quality metal alloys for domestic manufacturing using its artificial intelligence technology.
- Multiscale Technologies — 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.
Hermann Kristjánsson
Show more
Investment focus
- Hardware, Software, Photography
- Seed
- Iceland
Portfolio highlights
- Kúla 3D — Making your own 3D images and videos is easy. New devices to watch 3D are popping up, but something is missing: your own personal 3D imagery; your friends and family in three dimensions. Since 2013 Kúla has made solutions for 3D photography with regular camera because they believe everyone should capture their precious moments in 3D. They make 3Dlenses for DSLR cameras and smartphones accompanied by the image processing software Kúlacode.
Investors by industry
Google
Marketplace
Hardware
Energy
Proptech
Health Care
Biotech
Artificial intelligence
Climate
Consumer
Community
Impact
Gaming
FinTech
EdTech
Sustainability
Venture Capital
Big Data
Web3
B2B
Financial Services
Finance
Infrastructure
Education
Photography
Payments
Food and Beverage
Video Games
Organic Food
Retail
Beauty
Publishing
Clean Energy
Real Estate
Manufacturing
Art
Music
Android
Internet
Enterprise Software
eSports
Franchise
Sports
Construction
Digital Media
Email
Medical
Social Network
Wellness
Social Media
Mobile
Legal
Local
Recruiting
Cannabis
Platforms
Fitness
Travel
Mobile Advertising
Biotechnology
Hospitality
Social
Automotive
Crowdfunding
Wine And Spirits
Medical Device
CleanTech
Transportation
Mobile Apps
InsurTech
Enterprise
LGBT
Fashion
Oil and Gas
Life Science
Theatre
Film
Non Profit
Renewable Energy
SaaS
Sporting Goods
Restaurants
Social Impact
Software
Celebrity
Cryptocurrency
Machine Learning
Agriculture (agtech)
Media (entertainment)
Facebook
Blockchain
Investors by country
United Kingdom
Canada
South Korea
Ireland
United States
New Zealand
India
Germany
Australia
Armenia
South Africa
Spain
Japan
Africa
China
Sri Lanka
Singapore
Qatar
Asia
Indonesia
Vietnam
Oceania
LATAM
Middle East
Europe
Saudi Arabia
Brazil
Bulgaria
Belize
Bahrain
Croatia
Georgia
Belarus
Hungary
France
Ghana
Ethiopia
Gibraltar
Chile
Egypt
Finland
Costa Rica
Greece
Barbados
Belgium
Estonia
Bermuda
Czech Republic
Denmark
Algeria
Hong Kong
Ecuador
Faroe Islands
Sierra Leone
Liechtenstein
El Salvador
Liberia
Lebanon
Mauritius
Peru
Norway
Israel
Malaysia
Mexico
Nicaragua
Jersey
Panama
Morocco
Uganda
Mali
Lithuania
Italy
Philippines
Kuwait
Malta
Myanmar
Dominican Republic
Venezuela
Azerbaijan
Iceland
Sweden
Slovenia
Nigeria
Bahamas
Namibia
Iraq
Poland
United Arab Emirates
Uruguay
Jamaica
Honduras
Ukraine
Isle of Man
Tajikistan
Puerto Rico
Bolivia
Portugal
Luxembourg
Tunisia
Taiwan
Pakistan
Albania
Tanzania
Turkey
San Marino
Senegal
Togo
Uzbekistan
Serbia
Russian Federation
Grenada
Jordan
Zambia
Rwanda
Romania
Bangladesh
Argentina
Zimbabwe
Thailand
Kazakhstan
Kenya
Cayman Islands
Cambodia
Austria
Oman
Latvia
Cyprus
Switzerland
Cameroon
Colombia
Guatemala
Seychelles
Marshall Islands
Investors in Iceland by industry
Art
Manufacturing
Financial Services
Climate
Marketplace
Education
Payments
Food and Beverage
Medical
Medical Device
Internet
Android
Music
Mobile
Software
Sports
Enterprise Software
FinTech
Platforms
Enterprise
Health Care
Biotech
EdTech
SaaS
Community
Gaming
Social
Video Games
Sustainability
Hardware
Big Data
Artificial intelligence
Impact
Travel
Biotechnology
Energy
Media (entertainment)
Transportation