Top 10 Internet Startup Investors in Iceland (July 2026)
For AI agents: Short investor table (Markdown), Detailed investor list (Markdown)
| Investor | Relevant Deals | Geography | Stage | Focus | Round Size |
|---|---|---|---|---|---|
|
New Business Venture Fund
VC Fund
|
5 | Iceland, United States, China | Seed, Series A | Software, Health Care, Medical | $400k–$3.4M |
|
Frumtak Ventures
VC Fund
|
4 | Iceland, Estonia, United States | Seed, Series A | Software, Information Technology, SaaS | $974k–$20M |
|
Innoport
VC Fund
|
1 | India, Germany, Togo | Seed, Series A | Software, SaaS, Logistics | $1.1M–$14M |
|
Jon S. von Tetzchner
Angel
|
1 | Iceland | Seed | Travel, Tourism, Search Engine | |
|
Brunnur Ventures
VC Fund
|
1 | Iceland, United States, Denmark | Seed, Series A | Software, SaaS, Gaming | $1M–$16M |
|
Crowberry Capital
VC Fund
|
1 | Iceland, Denmark, Finland | Seed, Series A, Pre-Seed | Software, Gaming, Health Care | $1k–$17M |
|
Two Ravens
VC Fund
|
1 | United States, Germany, Iceland | Seed, Pre-Seed | Software, Information Technology, SaaS | $1.5M–$2.8M |
|
Riverstone Ventures
VC Fund
|
1 | Iceland | Venture - Series Unknown | SaaS, Software, Marine Technology | |
|
Menlo Ventures
VC Fund
|
1 | United States, Canada, Sweden | Series B, Series A, Series C | Software, Information Technology, Artificial Intelligence | $6.3M–$120M |
|
Sukna Ventures
VC Fund
|
1 | Saudi Arabia, United States, United Arab Emirates | Seed, Series A | Software, Information Technology, SaaS | $100k–$12M |
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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.
Show more...Investment focus
- Industry: Software, Health Care, Medical
- Stage:Seed, Series A
- Geography: Iceland, United States, China
Investor stats
- Total investments: 40
- Round size: Seed $400k–$2.6M; Series A $450k–$3.4M
- Lead/follow: 60% lead, 40% follow
Portfolio highlights
- Sundra — Sundra is a translation software that helps HR teams translate their learning content so every employee feels included.
- HorseDay — HorseDay is a mobile application to track horse activities.
- Arcana Bio — ArcanaBio is developing realtime biosurveillance solutions that minimize workplace disruptions and support health & wellness
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
- 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 still 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 —
We invest in innovative and high-potential startups.We focus on the global maritime and logistics sectors.We are striving to find disruptive technologies and business models.
Show more...Investment focus
- Industry: Software, SaaS, Logistics
- Stage:Seed, Series A
- Geography: India, Germany, Togo
Investor stats
- Total investments: 17
- Round size: Seed $1.1M–$3.7M; Series A $5M–$14M
- Lead/follow: 18% lead, 82% follow
Portfolio highlights
- Secro — Digitize Negotiable Documentary Workflows , Improve Compliance , Manage Risks , All Commodities & transportation Modes With One Secure Platform Low-code SaaS to digitize & automate key trade documents. Ensure clarity before you commit with a guided process. Adapts to your...
- Portcast — Our solution improves your supply chain resilience and profitability by accurately predicting arrival times and monitoring valuable container shipments around-the-clock.
- Hefring Marine — Hefring Marine's on-board AI saves fuel consumption, significantly reduces carbon emissions and improves safety in boats and vessels through our real time sea navigation guidance for both manned and unmanned vessels.
Jon von Tetzchner is co-founder and CEO of Vivaldi Technologies, the company behind the Vivaldi web browser and other services for the web’s most demanding and savviest users. He co-founded Opera Software where he served as CEO for 15 years. Jon steered Opera from a small basement nook shared into a global company with more than 900 employees in 13countries.Under his leadership, Opera was an early pioneer in mobile web browsing and more than 350 million people used Opera to enjoy the web on their terms. Jon is now steering Vivaldi which was came out with its final version in April 2016. He and his team are making a personal and a feature – rich browser that takes into consideration the needs of every user. Vivaldi is self-funded and aims to be this way where the employees hold equity.
Show more...Investment focus
- Industry: Travel, Tourism, Search Engine
- Stage:Seed
- Geography: Iceland
Investor stats
- Total investments: 1
- Lead/follow: 0% lead, 100% follow
Portfolio highlights
- Dohop — Dohop is an award-winning technology provider founded in Iceland with 15 years’ experience in developing innovative solutions in the field of aviation and travel. Its core technology is focused on creating connecting itineraries. Being at the forefront of digital innovation in the field of interline technology, Dohop has developed solutions forforward-thinking airlines, alliances, and airports all around the globe, including easyJet, Transavia, Eurowings, Jetstar Group, Gatwick Airport, and SkyTeam.
Brunnur Ventures is a top venture capital firm in Iceland for startups with high-growth potential.
Show more...Investment focus
- Industry: Software, SaaS, Gaming
- Stage:Seed, Series A
- Geography: Iceland, United States, Denmark
Investor stats
- Total investments: 32
- Round size: Seed $1M–$5.3M; Series A $1.5M–$16M
- Lead/follow: 66% lead, 34% follow
- Last fund: May invest from a new fund soon — raised $65M in 2021
Portfolio highlights
- Axelyf — Axelyf is a biotechnology company that offers RNA medicines through safer and more effective lipid nanoparticle delivery.
- 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.
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
- Industry: Software, Gaming, Health Care
- Stage:Seed, Series A, Pre-Seed
- Geography: Iceland, Denmark, Finland
Investor stats
- Total investments: 49
- Round size: Seed $1.6M–$4.2M; Pre-Seed $1k–$1.3M; Series A $5.7M–$17M
- Lead/follow: 49% lead, 51% follow
- Last fund: Likely still investing — fund raised in 2021
Portfolio highlights
- Quanscient — We are building next generation simulation software-as-a-service utilizing Quantum computing algorithms. Our specialty domain of simulations is Computational Electromagnetics.
- Hemi Health — Hemi Health is a Danish digital-first headache and migraine clinic specializing in diagnosis, personalized treatment, and care for headaches using technology like an app for symptom tracking and video consultations.
- Augmented Hearing — Augmented Hearing is creating game-changing technology that will be used in fields such as voice assistants, hearing health, environmental noise suppression in phone calls, and many more.
Two Ravens focuses on investing in pre-seed and early seed stage technology companies.
Show more...Investment focus
- Industry: Software, Information Technology, SaaS
- Stage:Seed, Pre-Seed
- Geography: United States, Germany, Iceland
Investor stats
- Total investments: 6
- Round size: Seed $1.8M–$2.8M; Pre-Seed $1.5M–$1.5M
- Lead/follow: 67% lead, 33% follow
Portfolio highlights
- Coworked — Coworked is redefining the Fortune 500 enterprise project management office (PMO) with Harmony, the AI Project Manager coworker that takes on 70%+ of routine project tasks, so your team can focus on driving outcomes, not chasing updates.What Harmony does: Harmony acts as a true team member, managing documents, timelines, resources, stakeholders,risks, meetings, and communication across your existing enterprise systems like Microsoft 365, Google Workspace, and your procurement, project, contract and financial tools.How Harmony works: Powered by Coworked’s proprietary agentic AI framework, Harmony operates autonomously as a headless project orchestrator within your workflows, without requiring new tools, systems, or disruptive process change.Why it matters: With Harmony, Fortune 500 enterprises reduce dependency on costly consultants, avoid the need to add headcount, and keep institutional knowledge alive across every project. The result: more projects delivered, with higher quality and less overhead.Our mission is simple, to make enterprise change as seamless as day-to-day operations.A Techstars-backed company.
- Gripp — Gripp Ag revolutionizes farm activity and equipment tracking with a simple yet effective QR code and mobile app that allows users to capture unrecorded events.
- Outfox Health — AI copilots answer benefits questions instantly. Lower costs without changing carriers. Launch in under 30 days.
Riverstone Ventures focuses on early stage climatetech companies.
Show more...Investment focus
- Industry: SaaS, Software, Marine Technology
- Stage:Venture - Series Unknown
- Geography: Iceland
Investor stats
- Total investments: 1
- Lead/follow: 0% lead, 100% follow
Portfolio highlights
- Hefring Marine — Hefring Marine's on-board AI saves fuel consumption, significantly reduces carbon emissions and improves safety in boats and vessels through our real time sea navigation guidance for both manned and unmanned vessels.
Menlo Ventures is a Bay Area venture capital firm that pursues companies with the potential to disrupt huge markets. We invest in all stages, across consumer, enterprise, and healthcare technologies.
Show more...Investment focus
- Industry: Software, Information Technology, Artificial Intelligence
- Stage:Series B, Series A, Series C
- Geography: United States, Canada, Sweden
Investor stats
- Total investments: 673
- Round size: Series A $6.3M–$60M; Series B $10M–$78M; Series C $12M–$120M
- Lead/follow: 35% lead, 65% follow
- Last fund: Likely still investing — raised $100M in 2024
Portfolio highlights
- nLIGHT — Leading the world in high-power lasers for mission-critical directed energy, sensing, and advanced manufacturing applications.
- Scality — Object storage solutions for enterprises to store, protect, and manage data across hybrid and multi-cloud environments.
- Socialcast — Socialcast is a leading provider of Enterprise collaboration software to facilitate real-time employee communication while analyzing the social graph for measures of productivity. Socialcast is deployed either on-premise or on-demand using activity streams to effectively accelerate information awareness amongst employees.
Sukna ventures is a venture studio and fund based in Saudi Arabia.
Show more...Investment focus
- Industry: Software, Information Technology, SaaS
- Stage:Seed, Series A
- Geography: Saudi Arabia, United States, United Arab Emirates
Investor stats
- Total investments: 26
- Round size: Seed $100k–$7M; Series A $10M–$12M
- Lead/follow: 23% lead, 77% follow
Portfolio highlights
- Flend — Egypt’s first tech enabled, data driven financing solutions platform dedicated to small businesses.
- Anecdote —
- InfiniLink — Empowering Hyperscale Datacenters Building Energy-Efficient Ultra-High-Speed Connectivity Solutions
Internet Investor funding in Iceland at a glance
Stats across 16 deals from 8 investors.
Access all 8 investors in Iceland Internet startups.
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