Top 10 Internet VC Funds & Investors in Iceland (June 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, United States, United Kingdom | Seed, Series A | Software, Information Technology, SaaS | $974k–$20M |
|
Brunnur Ventures
VC Fund
|
2 | Iceland, United States, Denmark | Seed, Series A | Software, SaaS, Gaming | $1M–$18M |
|
Two Ravens
VC Fund
|
1 | United States, Germany, Iceland | Seed, Pre-Seed | Software, Information Technology, SaaS | $1.5M–$2.7M |
|
MD ONE Ventures
VC Fund
|
1 | United Kingdom, Israel, Iceland | Seed, Series A, Pre-Seed | Software, Aerospace, Machine Learning | $3.5M–$20M |
|
Innoport
VC Fund
|
1 | India, Germany, Togo | Seed, Series A | Software, SaaS, Logistics | $1.1M–$10M |
|
Sukna Ventures
VC Fund
|
1 | Saudi Arabia, United States, United Arab Emirates | Seed, Pre-Seed | Software, Financial Services, Information Technology | $100k–$10M |
|
Menlo Ventures
VC Fund
|
1 | United States, Canada, Sweden | Series B, Series A, Series C | Software, Information Technology, Artificial Intelligence | $6.2M–$104M |
|
Riverstone Ventures
VC Fund
|
1 | Iceland | SaaS, Software, Marine Technology | ||
|
Crowberry Capital
VC Fund
|
1 | Iceland, Denmark, Finland | Seed, Series A, Pre-Seed | Software, Gaming, Health Care | $1k–$17M |
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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: 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.
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, United States, United Kingdom
Investor stats
- Total investments: 37
- Round size: Seed $974k–$4.7M; Series A $1.2M–$20M
- Lead/follow: 70% lead, 30% follow
- Last fund: Likely actively investing — fund raised in 2024
Portfolio highlights
- PLAIO — PLAIO is a web-based SaaS platform intended to help generic pharmaceutical companies to digitize their demand, manufacturing, and purchase planning.PLAIO offers features like visual and capacity planning, advanced constraint/overhead calculations.
- 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.
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: 29
- Round size: Seed $1M–$3.5M; Series A $1.5M–$18M
- Lead/follow: 62% lead, 38% follow
- Last fund: May invest from a new fund soon — raised $65M in 2021
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.
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: 5
- Round size: Seed $1.8M–$2.7M; Pre-Seed $1.5M–$1.5M
- Lead/follow: 60% lead, 40% follow
Portfolio highlights
- Senvo — AI-powered parcel audit platform identifies overcharges, service failures, and damage. Automatically recover shipping costs with 100% transparency.
- 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.
- Outfox Health — AI copilots answer benefits questions instantly. Lower costs without changing carriers. Launch in under 30 days.
MD One Ventures is the Venture Capital team dedicated to supporting National Security Innovation for the UK and Allies. We invest in the frontier technologies that matter.
Show more...Investment focus
- Industry: Software, Aerospace, Machine Learning
- Stage:Seed, Series A, Pre-Seed
- Geography: United Kingdom, Israel, Iceland
Investor stats
- Total investments: 21
- Round size: Seed $3.5M–$9.3M; Series A $8M–$20M
- Lead/follow: 0% lead, 100% follow
Portfolio highlights
- Januus — Januus enables cryptocurrency, working to accelerate its adoption by the global financial community. They collects data from around the internet to develop linkages between bitcoin wallets and identities, bridging the blockchain divide.
- 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.
- Milvus Advanced — Our Midas-touch alloys replicate the functional properties of platinum-group metals at a fraction of the cost.
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: 16
- Round size: Seed $1.1M–$3.9M; Series A $5M–$10M
- Lead/follow: 19% lead, 81% follow
Portfolio highlights
- Portcast — Our solution improves your supply chain resilience and profitability by accurately predicting arrival times and monitoring valuable container shipments around-the-clock.
- ANNEA — ANNEA help renewable energy companies to reduce OPEX by up to 50% while increasing green energy production by up to 15%.ANNEA provides the next generation of condition-based predictive maintenance and underperformance detection for renewable energy assets. It enables automated drive train vibration analysis, based on cutting edge artificialintelligence, physical modelling, and normal behaviour modelling.Operators receive notifications about future failures up to 12 months in advance, containing detailed information on which component has a problem, the root cause of the problem, and the best time window for repair. Besides, ANNEA detects underperformance of renewable assets and helps to maximise energy production.We optimise operations and maintenance across renewable energy sectors, reducing unplanned downtime and lost profit significantly, making green energy more affordable. Let's accelerate the energy transition together!
- 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.
Sukna ventures is a venture studio and fund based in Saudi Arabia.
Show more...Investment focus
- Industry: Software, Financial Services, Information Technology
- Stage:Seed, Pre-Seed
- Geography: Saudi Arabia, United States, United Arab Emirates
Investor stats
- Total investments: 14
- Round size: Seed $100k–$10M
- Lead/follow: 36% lead, 64% follow
Portfolio highlights
- MoneyHash — Emerging and Global markets first all-in-one flexible payment orchestration and revenue operations platform that covers all of your payment needs. We help you build, optimize, and scale your payment infrastructure at any stage of growth.
- OCTA — OCTA automates accounts receivable, accounts payable, collections, and reconciliation using AI agents. Trusted by 500+ companies to reduce DSO and accelerate cash flow.
- InfiniLink — Empowering Hyperscale Datacenters Building Energy-Efficient Ultra-High-Speed Connectivity Solutions
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: 643
- Round size: Series A $6.2M–$52M; Series B $10M–$75M; Series C $12M–$104M
- Lead/follow: 36% lead, 64% follow
- Last fund: Likely actively investing — fresh fund, raised $100M in 2024
Portfolio highlights
- Aisera — Aisera's AI Service Management (AISM) solution helps enterprises to automate IT tasks & workflows to deliver exceptional service experience.
- Dedrone — Dedrone is the global leader in anti-drone / counter-drone solutions with the most customers in more countries
- Immersive — Cyber Workforce Optimization The One Platform that Powers Your Entire Organization Book a Demo Our vision What is Immersive Labs? An enterprise platform that measures and evidences the cyber security capabilities of your workforce, Immersive Labs is the leader in cyber workforce optimization. Organizations use the
Riverstone Ventures focuses on early stage climatetech companies.
Show more...Investment focus
- Industry: SaaS, Software, Marine Technology
- 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.
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: 45
- Round size: Seed $1.6M–$4.7M; Pre-Seed $1k–$1.3M; Series A $5.7M–$17M
- Lead/follow: 51% lead, 49% 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.
- Porcelain Fortress — Porcelain Fortress was founded by a small band of romantics in the summer of 2016 in Reykjavik, Iceland.
Internet VC funding in Iceland at a glance
Stats across 15 deals from 7 investors.
Access all 7 VC funds in Iceland Internet startups.
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