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Top 15 Mobile VC (Venture Capital) Funds in Iceland in January 2026

Last updated: Jan 2026 A list of 15 VC (Venture Capital) funds that invest in Mobile startups based in Iceland. We rank investors based on the number of investments they made in Mobile companies from Iceland. We update this investor list every month.

Top 15 Mobile VC (Venture Capital) Funds in Iceland in January 2026

Investor	Mobile Iceland investments
Frumtak Ventures	6
Novator	3
Index Ventures	2
New Business Venture Fund	1
Atomico	1
Asabys Partners	1
Tuesday Capital	1
Greycroft	1
Tencent	1
boldstart ventures	1
Mesa Ventures	1
CAA Ventures	1
Sequoia Capital	1
Ridge Ventures	1
Wellington Partners	1

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Investor list

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.

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.

Novator is an alternative investment firm founded and led by the international investor and entrepreneur Thor Bjorgolfsson.Novator's investment portfolio is focused around following sectors: Telecommunications, Pharmaceuticals, IT and Renewable Energy. In addition, Novator operates a Private Equity Fund and a Credit Opportunities Fund.Novator focuses on developing strong management teams in each of its portfolio companies. While granting them the autonomy to create value, Novator maintains a supervisory role, principally through representation on the Boards of its investee companies. Novator differentiates itself from many other private equity companies in concentrating on complex situations, either by virtue of their structure or their cross-border nature. To create value, Novator undertakes the restructuring or "de-risking" of investment opportunities through re-financing, combining acquired assets with existing businesses, through sale to strategic or financial buyers, or through flotation. Novator's investment portfolio is focused around four main sectors:Telecommunications, Pharmaceuticals, IT and Renewable Energy.

Investment focus

Software, E-Commerce, Online Games
Funding Round, Series B, Series C
United Kingdom, United States, Iceland

Portfolio highlights

Numan — Convenient care, tailored to you. Offering treatments for weight loss, diagnostics, erectile dysfunction, hair loss, and more.
Nord Security — Nord Security is the leader in the field of online privacy and security. Our security tools have earned praise from respected experts and tech outlets.
Steel City Interactive — Steel City Interactive develops gaming.

Index Ventures is an international venture capital firm with dual headquarters in San Francisco and London, investing in technology-enabled companies with a focus on e-commerce, fintech, mobility, gaming, infrastructure/AI, and security.

Investment focus

Software, E-Commerce, Internet
Series A, Series B, Seed
United States, United Kingdom, France

Portfolio highlights

BIT ODD — Gaming company building games filled with wonder, weirdness and delight
Dream Games — Join Dream Games and explore a vibrant universe of characters and puzzles. Discover why millions of players worldwide love our mobile games. Visit us to learn more about our games, company culture, and career opportunities.
Acutus Medical — Acutus Medical develops medical technologies to treat complex cardiac arrhythmia. The company's platform displays the heart’s true activation pattern, turning the chaos of a complex arrhythmia into a clear vision for electrophysiologists.Acutus Medical is a privately funded company founded in 2011 and based in Carlsbad, California. Itsproducts are co-developed in the U.S. and Europe with an exceptional team of medical scientists, biomedical engineers, and other professionals.It was founded in 2011 and headquartered in Carlsbad, California.

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.

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.

Atomico invests in innovative technology companies around the world.

Investment focus

Software, Information Technology, Artificial Intelligence
Series A, Series B, Series C
United Kingdom, United States, Germany

Portfolio highlights

Gengo — People-powered translation at scale. Gengo provides fast, affordable and quality translations by native speakers located worldwide.
Ankar AI — Your AI Operating System for Patents
Ben — Ben is the all-in-one platform for any company to personalise benefits and reward.Our secret? Marrying a modern software (SaaS) platform with per-employee Mastercards and financial infrastructure. That’s how Ben instantly adds employee choice to your existing benefits, unlocks access to hundreds of additional options through Ben Card, all whilesaving you time and money.

Asabys Partners is a venture capital firm that invests across the board in human healthcare. The company is active in the health-tech and biopharma industries and aims to invest in Spain and abroad in innovative and transformative technologies. Asabys Partners are motivated by the idea of pushing the boundaries of science and medicine. This is donethrough the sourcing and financing of the most disruptive technologies, and through the collaboration with the best internal and external talents of our industry.

Investment focus

Biotechnology, Medical Device, Health Care
Series A, Seed, Series B
Spain, France, Belgium

Portfolio highlights

Quibim — Leading radiomics company pioneering quantitative imaging biomarkers and medical applications in precision medicine.
Medlumics — Medlumics is a medical device start-up born in 2009 from a compromise with improving human living standards by means of technology.
INBRAIN Neuroelectronics — We are scientists, doctors, techies and humanity lovers, with the mission of building neuroelectronic interfaces to cure brain disorders.

Tuesday Capital (formerly CrunchFund) has been helping early-stage founders build the companies of tomorrow since 2011.

Investment focus

Software, Mobile, Internet
Seed, Series A, Pre-Seed
United States, Mexico, United Kingdom

Portfolio highlights

Olio Devices — Olio Devices develops luxury lifestyle products for modern professionals. The company offers smart wearable devices such as wrist-watches alongside associated software, hardware, and a cloud-based platform for third-party services.Their first product, the Olio Model One timepiece, was announced in March, 2015. Olio Devices was founded in 2013and is based in San Francisco, CA.
Sandbox Banking — nCino Integration Gateway (formerly Glyue by Sandbox Banking) eliminates bottlenecks & accelerates digital transformation with a purpose-built platform for financial institutions.
Karma Biotechnologies — Dapatkan hasil live draw sdy pools siang ini dan live draw sgp hari ini tercepat dari singapore pools. Tersedia juga result resmi dari pusat live draw hk lotto 6d, data akurat dari hongkong pools, transparan, dan terpercaya di Indonesia dengan sistem update otomatis tanpa delay setiap hari.

Venture capital and technology investments

Investment focus

Software, Artificial Intelligence, E-Commerce
Series A, Seed, Series B
United States, United Kingdom, Germany

Portfolio highlights

MapAnything — Integrate and leverage location-based data and prioritization in your CRM, using Salesforce maps, to optimize your reps' activities.
Optimus Ride — Optimus Ride is a self-driving vehicle company based in Boston, MA. It designs technologies to enable efficient, sustainable, and equitable mobility systems and solutions.As an MIT spinoff company, it combines over 30 years of interdisciplinary university research in self‑driving technologies (DARPA Urban Challenge), electric vehicles (CityCar),and Mobility-on-Demand Systems. The team includes decades of industrial and entrepreneurial experience that combines manufacturing robots, urban design, and shared vehicle fleet management.
Resonate — Resonate's pioneering approach goes beyond traditional targeting on broad demographics, past behaviors or general interests. Political campaigns, advocacy groups and major consumer brands now use Resonate's motivations based targeting to deliver successful online ad campaigns based on otherwise unidentifiable values such as patriotism,environmentalism, taste for luxury, interest in innovation and thousands of other human dimensions.

Tencent is an internet service portal offering value-added internet, mobile, telecom, and online advertising services. Its communications and social platforms Weixin and QQ connect users with each other, with digital content and daily life services in just a few clicks. Tencent has maintained steady growth under its user-oriented operatingstrategies. It provides value-added internet, mobile, and telecom services, as well as online advertising under the strategic goal of providing users with "one-stop online lifestyle services." Tencent’s Internet platforms in China – QQ (QQ Instant Messenger), WeChat, QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai, and Tenpay – aim to address the various needs of internet users, including communication, information, entertainment, e-commerce, and others.In September 2013, Tencent's market valuation rose to $101 billion, and as of November 21, 2013, QQ had 2 billion active users and WeChat had 650 million monthly active users. The numbers of active users for QQ mail, Qzone, Tencent Weibo, and QQ news were 274 million, 626 million, 220 million, and 150 million, respectively.Tencent was founded in November of 1998. In April 2000, the IDG and PCCW invested a total of $2.2 million dollars in the company. Tencent was listed on the Hong Kong Stock Exchange (SEHK) on June 16, 2004. Baidu, Alibaba, and Netease are Tencent's major competitors.

Investment focus

Software, Financial Services, E-Commerce
Series B, Series A, Series C
China, United States, United Kingdom

Portfolio highlights

VSPN — VSPN is an internet sports and cultural media company that focuses its business on e-sports. It provides core marketing and entertainment content operations as its core business, providing brand marketing, artist brokerage, e-sports TV, and e-sports venues.Founded in 2015, Quantum Sports VSPN (Versus Programming Network) and is based in Shanghai,China.
Gaana — Gaana.com- Listen & Download latest MP3 songs online. Download new or old Hindi songs, Bollywood songs, English songs* & more on Gaana+ and play offline. Create, share and listen to streaming music playlists.
Reliance Health — Reliance Health Global. Improve the lives of your staff with innovative company healthcare benefits fit for any business. You can rely on us.

Inception venture capital for Bold Technical Founders Building the Autonomous Enterprise

Investment focus

Software, SaaS, Information Technology
Seed, Series A, Series B
United States, Canada, Israel

Portfolio highlights

Tessl — Tessl transforms software development for the AI era with its innovative AI-native development approach. Its AI-powered development platform provides secure, high-quality, and self-maintaining code tailored to the user's requirements.
CrewAI — CrewAI is a multi-agent automation platform for enterprises to automate complex tasks. With its automation platform, organizations can deploy and manage AI agents to automate complex tasks and to value across a wide range of use cases, from research and analysis to coding and reporting.The company also offers a range of advanced new featuresincluding self-iteration, performance evaluation, persistent memory, and a range of new agent collaboration structures.
Spectro Cloud — Enterprise Kubernetes management platform built for scale. Complete lifecycle management of any type of cluster, from bare metal to the edge.

MESA Ventures is a Seed and Series A venture fund focused on e-commerce, advertising, media, enterprise software, and mobile technologies. The Fund co-invests between $50,000 and $250,000 alongside established early stage venture firms. We actively support talented entrepreneurs building big businesses. To do that, we invest social capitalthat we believe valuable as financial capital. This comes from tapping into the team’s global network of media, entertainment and technology relationships to provide investor introductions, executive team hiring, business development, client & advertiser introductions, and marketing support. The Fund's goal is to help its portfolio companies whenever and wherever it can.

Investment focus

Mobile, E-Commerce, Software
Seed, Series A, Funding Round
United States, Germany, Iceland

Portfolio highlights

Arconex — Arconex - Vertical AI SaaS for the Architecture, Engineering & Construction (AEC) Industry.
Zipdrug — Discover the innovative capabilities and solutions from CarelonRx that help remove barriers, personalize experiences, and improve health outcomes.
MessageYes (formerly ReplyYes) — MessageYes' mission is to help people effortlessly discover and purchase items they love using their mobile phones. MessageYes is the first platform to offer frictionless e-commerce over mobile messaging for brands looking to engage and transact directly with their customers. Leveraging artificial intelligence (AI), human-assisted AI, andintegrated payments, the MessageYes platform learns from customer feedback to make the experience serendipitous to each person and brand. Message recipients simply reply "Yes" to instantly buy from their mobile phones.

The intersection of culture + commerce. Investing in next wave entrepreneurs.

Investment focus

Internet, Mobile, E-Commerce
Series A, Seed, Series B
United States, Canada, Iceland

Portfolio highlights

Bungalow — Bungalow is a residential real estate platform that provides renters with a more convenient, flexible, and communal living solution. It utilizes existing housing supply by signing long-term leases with homeowners, and offers multi-bedroom homes in some of the most desirable neighborhoods in cities throughout the United States.Bungalow offersprivate bedrooms with handpicked housemates in beautifully furnished homes across seven major cities. Each home comes furnished and includes wifi, utilities, housekeeping, and monthly community events for members.Andrew Collins and Justin McCarty founded Bungalow in 2016. Its headquarters is in San Francisco in California.
Harper Wilde — Real comfort for real bodies. Soft, supportive, everyday bras and underwear that actually feel good to wear.
DeSo Foundation — DeSo is a layer -1 blockchain designed to build and scale decentralized social apps to 1 Billion users. Take back ownership of your content and social graph with web3 versions of Twitter and LinkedIn.

We help the daring build We help the daring build legendary companies from idea to IPO and beyond. companies.

Investment focus

Software, Information Technology, Artificial Intelligence
Series A, Series B, Series C
United States, China, India

Portfolio highlights

Infracost — Infracost creates cloud cost estimates for infrastructure as code in pull requests, so developers know how much their cloud resources will cost before launching them, creating a cost-aware engineering organization.
Catch — Catch is a payment method that provides a new way to pay and earn store credit.
Papaya — Pay any bill in a matter of seconds. No stamps, no complicated portals, no stress.

Ridge Ventures (formerly IDG Ventures) is an early stage venture capital fund investing in experienced founders redefining how the world uses software.

Investment focus

Software, Internet, Information Technology
Series A, Seed, Series B
United States, Canada, Finland

Portfolio highlights

Trifacta — Trifacta has joined Alteryx to help customers and partners bring even more value to their businesses, powered by breakthrough data analytic insights.
Uplift — Uplift is an enterprise Buy Now, Pay Later solution serving over 100 of the world's top travel brands. Through personalized, flexible payment options, Uplift helps consumers take control of their budget and experience a world of travel. With a complete range of payment options, Uplift unlocks higher conversions and lifetime customer value formerchant partners.The company was founded in 2014 and is headquartered in Menlo Park, California.
Tempered — straightforward network segmentation and secure remote access between any two systems anywhere for IT, Operational Technology, IOT, IIOT, Cloud, Mobile. zero trust SDP

Wellington Partners is a venture capital firm that invests in technology and life sciences companies, focusing on Digital Media, Software, Electronics & Photonics, Resource Efficiency, and Biotech/Life Sciences. It is committed to providing outstanding entrepreneurs with the necessary resources to fund their strategies. We typically leadfinancing rounds ranging from € 0.5 million to € 20 million. Depending on the maturity of the company, its own commitment can go as high as € 15 million.Wellington was established in 1998 and has offices in Munich, London, and Zurich.

Investment focus

Health Care, Biotechnology, Medical
Series A, Series B, Funding Round
Germany, United States, United Kingdom

Portfolio highlights

Hilo — Founded in Switzerland in May 2018 out of a passion to turn insights into action in the fight against hypertension, Aktiia’s groundbreaking medical technology provides people and their physicians comprehensive insights into blood pressure patterns that will inform the diagnosis and management of hypertension. Now available in the United Kingdom,Aktiia has received its CE Mark as a Class IIa medical device - signifying that the device has been assessed to meet high safety, health and environmental protection requirements in Europe. To learn more, visit Aktiia.com.
UiPath — Reinvent your workplace with the leading robotic process automation platform and learn how UiPath can help your company become a fully automated enterprise.
Nuclidium — NUCLIDIUM is a clinical-stage radiopharmaceutical company that develops novel radionuclide PET tracers for precision diagnostics. Using copper isotopes, Copper-61 for diagnostics and Copper-67 for therapeutics, the company is creating a differentiated platform with the potential to overcome existing limitations in radiotheranostics.

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