Top 5 Marketplace Startup Investors in Iceland (October 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
|
3 | Iceland, United States, China | Seed, Venture - Series Unknown | Software, Health Care, SaaS | $400k–$3.8M |
|
Frumtak Ventures
VC Fund
|
2 | Iceland, Estonia, United States | Seed, Venture - Series Unknown | Software, Information Technology, SaaS | $974k–$14M |
|
General Electric
VC Fund
|
1 | United States, Israel, China | Series B, Series A, Series C | Energy, Software, Renewable Energy | $5M–$653M |
|
Teya
VC Fund
|
1 | Turkey, Iceland | Venture - Series Unknown | Information Technology, Apps, Sales | |
|
TGC Capital Partners
VC Fund
|
1 | Norway, Sweden, Finland | Venture - Series Unknown, Seed, Pre-Seed | Artificial Intelligence, Retail, Apparel | |
| Access all 18 investors in Iceland Marketplace startups. | |||||
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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, 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
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, Venture - Series Unknown
- Geography: Iceland, Estonia, United States
Investor stats
- Total investments: 46
- Round size: Seed $974k–$4.7M; Venture - Series Unknown $1.2M–$14M
- Lead/follow: 70% lead, 30% follow
- Last fund: Likely still investing — raised $87M in 2024
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.
General Electric Company offers infrastructure and financial services worldwide. It operates in various segments, including power and water, oil and gas, energy management, aviation, healthcare, transportation, appliances and lighting, GE capital, and more.Its power and water segment offers gas, steam and aeroderivative turbines, nuclearreactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment. Its oil and gas segment provides surface and subsea drilling and production systems, equipment for floating production platforms, compressors, turbines, turboexpanders, reactors, industrial power generation, and auxiliary equipment. The company’s energy management segments offers plant automation hardware, software, and embedded computing systems. Its aviation segment offers jet engines; aerospace systems and equipment; and replacement parts and repair and maintenance services. The healthcare segment provides medical imaging, software and information technology (IT), patient monitoring and diagnostics, drug discovery, biopharmaceutical manufacturing technologies, and performance improvement solutions. Its transportation segment offers freight and passenger locomotives, and diesel engines for rail, marine, and stationary power applications; railway signaling and communications systems; underground mining equipment; motorized drive systems; IT solutions; and replacement parts and value added services. The appliances and lighting segment manufactures home appliances; and lighting products for commercial and industrial applications. Its capital segment offers commercial loans and leases, fleet management, financial programs, credit cards, personal loans, and other financial services.General Electric Company was founded in 1892 and is headquartered in Fairfield, Connecticut.
Show more...Investment focus
- Industry: Energy, Software, Renewable Energy
- Stage:Series B, Series A, Series C
- Geography: United States, Israel, China
Investor stats
- Total investments: 31
- Round size: Series A $10M–$36M; Series B $5M–$106M; Series C $46M–$653M
- Lead/follow: 23% lead, 77% follow
Portfolio highlights
- ThetaRay — ThetaRay's big data analytics solutions are based on AI & machine learning, empowering businesses to find opportunities and threats hidden in their big data
- Travelshift — Transform the travel industry with Travelshift software. Work with the complete industry marketplace platform, top partners and regional expertise. Learn More.
- Crowntech Photonics — Crowntech Photonics is an ISO 9001 and ISO 14001 certified world leading designer and manufacturer of passive fiber-optics components, integrated modules, and subsystems serving the telecommunications and datacom industries. Driven by the increasing broadband demands, Crowntech Photonics is committed to deliver the solutions enabling the bandwidthgrowth through our innovative fiber-optics product lines.Crowntech Photonics was incorporated in 2008 with headquarters, sales division and R&D center in Shanghai while operations center, and the large manufacturing facilities are located in Yingkou City, Liaoning Province, China. Over 120,000 square feet (12,000 square meters) of facilities were commenced in operations with 40,000 square feet of manufacturing cleanroom space positioning Crowntech to serve the ever increasing demand of fiber-optics products to our valuable partners with high quality, competitive pricing, and superior customer service.
SaltPay is a FinTech company dedicated to building a better future for merchants by servicing them through payment and management tools. Focused on efficiency, technology, and people, they give merchants the help they need to grow.
Show more...Investment focus
- Industry: Information Technology, Apps, Sales
- Stage:Venture - Series Unknown
- Geography: Turkey, Iceland
Investor stats
- Total investments: 2
- Lead/follow: 50% lead, 50% follow
Portfolio highlights
- Odeal — Oedeal is a developer of an app designed for companies to take payments via mobile. With the help of the company's platform, shops can do away with cash registers and accept payments from customers using tablets, smartphones, or point-of-sale devices, allowing them to finish their purchases right away. Making it simpler for all entrepreneursto access financial services is central to their mission of boosting the competitiveness of both enterprises and the nation.
- Salescloud — The power behind your point of sales. Our cloud-based sales and management solutions provide you with powerful tools to help you run and grow your business.
Operator-led growth capital pairing minority equity with embedded engineering, GTM, and governance - an alternative to PE and VC for B2B SaaS founders.
Show more...Investment focus
- Industry: Artificial Intelligence, Retail, Apparel
- Stage:Venture - Series Unknown, Seed, Pre-Seed
- Geography: Norway, Sweden, Finland
Investor stats
- Total investments: 5
- Lead/follow: 100% lead, 0% 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.
- Smilee.ai — Smilee is revolutionizing the digital customer experience by replacing passive websites with proactive, autonomous AI Agents. We provide an end-to-end AI platform that acts not only as a 24/7 sales and service engine but also as a data-driven development consultant for B2B, retail, and public sector organizations.Moving beyond traditionalchatbots and basic web analytics, Smilee AI deeply analyzes 100% of customer interactions. Our intelligent agents translate conversational data into concrete, actionable insights, telling organizations exactly where their digital customer journeys break and how to fix them. Integrated seamlessly into CRMs, ERPs, and backend systems, our AI Agents autonomously execute complex workflows—saving months of human resources and continuously optimizing the conversion funnel.Pioneering Autonomous Retail: The Automotive AI Sales Agent At the forefront of our vertical expansion is our cutting-edge AI Sales Agent for automotive retail, integrated with our CarWeb.shop platform. Smilee is building the future of digital car sales by fully automating the automotive retail process. From initial lead qualification and real-time trade-in vehicle valuation to complex financing calculations and digital contract signing, our AI Sales Agent autonomously handles the complete end-to-end car buying journey. This delivers an unparalleled, hyper-personalized customer experience while dramatically reducing sales costs for dealerships and marketplaces.Secure & Scalable Architecture Built on advanced technology and compliant with strict NIS2 and strong electronic authentication standards, Smilee guarantees a secure, hallucination-free environment. Smilee is poised to become the leading autonomous AI partner for organizations seeking to maximize their digital ROI and accelerate revenue growth towards market dominance.
- Carsale24 — Carsale24.de is the unique online platform where individuals can sell their car free of charge in bid rounds to professional certified used car dealers every day.
Marketplace Investor funding in Iceland at a glance
Stats across 47 deals from 18 investors.
Access all 18 investors in Iceland Marketplace startups.
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