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Top 50 Software Startup Investors in Iceland in February 2025

Last updated: Feb 2025 A list of 50 angel investors and VC (Venture Capital) funds that invest in Software startups based in Iceland. We rank investors based on the number of investments they made in Software companies from Iceland. We update this investor list every month.

Top 50 Software Startup Investors in Iceland in February 2025

Investor	Software Iceland investments
Frumtak Ventures	16
New Business Venture Fund	13
Crowberry Capital	7
Brunnur Ventures	7
Iceland Venture Studio	3
Christian Jantzen	2
Behold Ventures	2
Saint-Gobain NOVA	2
Inventure	2
Reaktor Ventures	2
Slack Fund	2
BlueYard Capital	2
byFounders	2
Preceptor Capital	2
Shanda Group	2
Karma Ventures	2
Investa	2
Anthony Deighton	1
Seed Capital	1
Headline	1
Sigþór Sigmarsson	1
Ari Helgason	1
Greycroft	1
Eyrir Venture Management	1
Capital A Partners	1
Ridge Ventures	1
Nick Gatfield	1
Mesa Ventures	1
Omega ehf	1
Technology Development Fund	1
Ziggy Jonsson	1
Eyrir Vöxtur	1
Sequoia Capital	1
Two Ravens	1
Tencent	1
Faber	1
Eyrir Invest	1
Teya	1
whynow	1
Omega Algae	1
MGMT Ventures	1
Jeff Solomon	1
Charles Huang	1
Hermann Kristjánsson	1
Tuesday Capital	1
Kristín Pétursdóttir	1
Tennin	1
Keen Venture Partners	1
L-Acoustics	1
Export and Investment Fund	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 manufacturing
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.

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.

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.

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.

Brunnur Ventures is a top venture capital firm in Iceland for startups with high-growth potential.

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.

We help people grow and build decentralized companies

Investment focus

Health Care, Software, B2B
Seed, Pre-Seed, Funding Round
Iceland, India, Israel

Portfolio highlights

Soptle — Founded in Sep 2021, Soptle started to establish an integrated technology to the neglected regional FMCG Manufacturers in India with a B2B Retail Commmerce App. It uses tech and data to distribute at scale and use necessary components (existing Distributor/Wholesaler) in the FMCG Supply Chain to build a high growth and profitable business.
Expertrons — Expertrons is an upskilling platform that offers advanced training programs | BSFI | HR | Marketing and many more to assure 100% professional success.
Nanom — Greenvolt Nano creates nano-enhanced materials for use in battery technology. It provides a pathway to clean, inexpensive, and renewable energy sources while reducing environmental toxicity. And makes products smarter, efficient, and longer lasting. It is founded in 2017.

Danish angel investor, based in London.

Investment focus

Software, SaaS, Information Technology
Seed, Pre-Seed, Angel
Denmark, Sweden, Finland

Portfolio highlights

Medusa — The most popular ecommerce project on GitHub. Medusa provides the world's most flexible commerce platform for developers to handle specialized commerce cases.
Heyhack — Automated web application security testing, protection, and reporting for software-as-a-service businesses.
Fullview — Fullview let's you instantly monitor, control and analyze user sessions for faster real time customer support. No downloads. Easy to integrate.

Early stage (first money), venture capital - laser focused on investing in the video games industry. Based in Sweden with a deep focus on the Nordics, while also being opportunistic about investments worldwide.

Investment focus

Gaming, Sports, eSports
Seed, Pre-Seed
Sweden, Iceland, United States

Portfolio highlights

Red Rover — We're on a mission to reimagine the multiplayer gaming landscape, with an emphasis on crafting groundbreaking survival experiences that champion player agency and drama.
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, and horses.

Saint-Gobain NOVA is the ventures arm of Saint‑Gobain.

Investment focus

Software, Energy, Information Technology
Seed, Series B, Funding Round
United States, Germany, Iceland

Portfolio highlights

Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.
Fortera — 8% of global greenhouse emissions are caused by cement manufacturing, accounting for more than 3.5 billion tons of CO2 produced each year. Fortera addresses CO2 emissions directly from the kiln.
FibreCoat — Making the future affordable. EM-Shielding Composites Sustainable https://fibrecoat.de/wp-content/uploads/2022/01/20211004_FibreCoat_web.mp4 Shedule a meeting to solve your problem Mobility Affordable and damage-resistant materials for integrated EMI-shielding and weight reduction in EVs. Construction Easy retrofit shielding of electronics and people from 5G and other types of EM radiation. Government Specialized yarns for sensors, circuits, shielding and countermeasure materials. With

Since 2005, Inventure has backed over 90 companies including Wolt, Swappie, Jobbatical, aiMotive, and more.

Investment focus

Software, Information Technology, Health Care
Seed, Series A, Series B
Finland, Sweden, Denmark

Portfolio highlights

Moncyte Health — Unique technology and novel data for personalized and optimal treatment of high cholesterol
Biomatter — Biomatter Designs is pioneering the technologies for generative protein design at the intersection of synthetic biology and AI.
Avenue Biosciences — From biotechnology tools to therapy discovery and development: Our platform enhances production yield and the quality of your end product.

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.

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.

The Slack Fund is a venture capital fund that invests in and collaborates with entrepreneurs creating the next great software companies.

Investment focus

Software, SaaS, Internet
Seed, Series A, Series B
United States, Canada, United Kingdom

Portfolio highlights

WorkMade — A smarter banking solution for freelancers: Automatically calculates, prepares, pays taxes, discovers write-offs, and gets you paid fast.
Gatheround — Facilitate must-haves like regular team bonding, new hire onboarding, peer learning, and more.
Ensemble — Discover how a novel representation learning algorithm can increase the predictive power of your data in any domain and with any model.

BlueYard backs founders building the interconnected elements that can become the fabric of our future.

Investment focus

Software, Biotechnology, Internet
Seed, Series A, Funding Round
United States, Germany, United Kingdom

Portfolio highlights

bit.bio — Bit.bio specializes in the fields of coding and biology that determine the identity of every human cell. Their mission is coding cells for health. To do so, we apply the principles of computation to biology. Bit.bio's current focus is to develop a scalable technology platform capable of producing consistent batches of every human cell. Thishas the potential to unlock a new generation of medicine: it will enable research and drug discovery to move on from inappropriate models and work with the cells that actually are affected by the human disease. A scalable platform of consistent cells will also be the basis for a new generation of cell and tissue therapies. To achieve our goals, we have assembled a team of pioneers in stem cells, cellular reprogramming, mathematical modeling, and cell therapy. Collaboration is at the heart of bit.bio. We are empirical, highly ambitious, and driven by a common purpose.
Cryptio — We offer enterprise-grade accounting, reporting, and audit software for your digital assets.
Castelion — We are a modern defense production company building the next generation of military hypersonic, vehicle, and strike systems to deter future wars.

byFounders is the community-powered early-stage venture fund investing in globally ambitious teams connected to the Nordic and Baltic countries. With its unique Collective of founders and operators, byFounders offers its portfolio operational expertise and a global network. Believing in the power of tech to shape our future, byFounders takes an impact-aware approach to investing and working with the broader startup ecosystem.

Investment focus

Software, Artificial Intelligence, Mobile Apps
Seed, Pre-Seed, Series A
Denmark, United States, Sweden

Portfolio highlights

DREM — Simplifying distributed energy saving solutions
Meine Erde — Meine Erde is a provider of ecological burial option in Europe.
DataCrunch.io — DataCrunch is a cloud service provider which facilitates utilization and integration of state of the art AI/ML models

Preceptor Capital is an investment firm.

Investment focus

FinTech, Computer, Software
Seed, Series A
Iceland, United States

Portfolio highlights

Anonybit — Revolutionize identity management with Anonybit! Unmatched privacy, strong authentication, and secure solutions for a safer digital world.
Lucinity — Money laundering is the crime that fuels crime. Lucinity's mission is to Make Money Good® by combining the best of human and artificial intelligence. Lucinity uses Human AI to help banks fight financial crime more efficiently. By designing its AML platform around man and machine, Lucinity allows banks to increase their AML programs'productivity.Lucinity identifies suspicious activity through its proprietary behavior detection system. The approach is entirely risk-based and allows customers to control their risk exposure before efficiently reviewing AML alerts in the Lucinity Case Manager.The company was founded by industry veterans. The core team has experience from Tier-1 banks, international regulators, and leading legacy vendors. Lucinity takes great pride in being the enterprise-ready AML startup that brings the novelty and excitement of a startup and the professionalism and experience of an incumbent.

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.

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.

karma.vc is an early stage venture capital fund focusing on seed and early stage technology companies in Europe.

Investment focus

Software, Artificial Intelligence, Information Technology
Series A, Series B, Seed
Estonia, United States, Sweden

Portfolio highlights

Patchstack — Keep your WordPress sites safe from vulnerable plugins & themes. Protect sites with virtual patching.
BforeAI — Starting from patented technology developed in years of research, BforeAi is the prediction service that looks for newly registered or morphed domains, and score their maliciousness looking at metadata and links to other bad guys.
Pactum — Pactum autonomous negotiations help companies unlock hidden value. Our AI negotiates non-strategic supplier contracts on a massive scale.

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.

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.

Anthony Deighton is responsible for product marketing and strategy at QlikTech. Most recently, Anthony was the General Manager of Siebel System's Employee Relationship Management (ERM) business unit. Anthony help found the ERM business at Siebel and it grew to over 300 customers, $20 million a year in license revenue, was recognized asSiebel's fastest-growing product line and named Product Line of the Year. Prior to joining Siebel, Anthony worked as a management consultant at A.T. Kearney in Chicago. Deighton holds a bachelor's degree from Northwestern University and an MBA with high distinction from Harvard Business School.

Investment focus

SaaS, Software, Productivity Tools
Angel
Iceland

Portfolio highlights

GRID — Build smart, interactive web calculators & lead-gen tools powered by your spreadsheets.

Seed Capital invests in Danish tech businesses with global ambitions. We are focused on "late seed"-stage companies, typically investing 1-3 MEUR in rounds of 1-6 MEUR. Proud backers of Trustpilot, Vivino, Lunar, Templafy, Dixa, Forecast, and many other great companies.

Investment focus

Software, Health Care, SaaS
Seed, Funding Round, Series A
Denmark, United States, United Kingdom

Portfolio highlights

Flatpay — Flatpay's fair, flat-rate pricing simplifies payments & cuts costs. Benefit from our comprehensive solution & superior customer service. Join us now!
Mesh Bio — Mesh Bio is a digital health startup that is transforming chronic disease management through predictive analytics. Mesh Bio works with healthcare providers and stakeholders to provide innovative solutions that transform health screening and disease management. They translate clinical data and numbers into actionable insights that help patientsbetter manage their health, lifestyle and disease risks.
Embla — Embla provides an online medical weight loss treatment using prescription drugs and coaching. The company provides patients with evidence-based treatments, digital tools, medication, and coaching to facilitate sustainable weight loss. Embla was founded in 2021 and is headquartered in Copenhagen, Denmark.

Headline is a Venture Capital firm actively on the ground in 7 cities around the world. We invest across categories and geographies, leading rounds at every stage. Once we commit to a team, we go to the ends of the earth to make their success global.

Investment focus

Software, E-Commerce, Information Technology
Series A, Series B, Seed
United States, Germany, United Kingdom

Portfolio highlights

Nivoda — Nivoda provides jewellery businesses with a simple solution to strengthen profits, increase efficiency and accelerate growth with its B2B diamond marketplace. Designed to save you time and money whilst giving you access to the world’s diamond supply at the best prices with zero inventory risk, Nivoda is trusted by thousands of retailers all overthe globe.
Deblock — Forget your bank account: Get an IBAN, a Debit Card and a Non-custodial Crypto wallet. Deposit any crypto on your current account. Exchange Euro and Crypto without any limit.
Pi-xcels — Eco-friendly NFC digital receipts solution for actionable shopper data and enhanced customer journeys. No App, Just Tap. With one-tap convenience, Pi-xcels unlocks omni-channel marketing opportunities and boosts performance for retailers with our customer intelligence platform.

Sigþór Sigmarsson is Finance director at Novato. He attended Háskóli Íslands.

Investment focus

Software, Health Care, Banking
Seed, Series D, Funding Round
Iceland, United Kingdom

Portfolio highlights

Genis — Genis is pioneering the development and application of therapeutic chitin derivatives.
Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.
3Z Pharmaceuticals — 3Z Pharmaceuticals provides research services intended to provide drug development services. It offers drug screening on sleep and epilepsy assays that helps in the development of drugs used to treat neurological disorders, enabling patients to get multiple drug efficacy and toxicity assays.Karl Karlsson and Haraldur Thorsteinsson founded 3ZPharmaceuticals in 2008. It based their company on their research on the sleeping patterns of the zebrafish at the Reykjavik University Neurolab in 2006.

Ari Helgason

Investment focus

Software, SaaS, Developer Tools
Seed, Series A, Angel
United Kingdom, France, Denmark

Portfolio highlights

Cutover — Cutover is a Work Orchestration and Observability platform. It enables teams to plan, orchestrate, and analyze complex work faster, smarter, and with greater visibility.
GRID — Spreadsheets run the world and we run spreadsheets.
LiveFlow — The easiest way to bring financial data into your spreadsheet. Automate your finances, consolidate your accounts and collaborate in real-time. Try LiveFlow for free today!

Venture capital and technology investments

Investment focus

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

Portfolio highlights

Reflexivity — Say goodbye to stodgy terminals and clunky, decades-old interfaces. By asking questions in natural language, our institutional-grade analytic tools come alive and at your service.
Hippocratic AI — The First Safety Focused LLM for Healthcare
Thread AI — Thread AI makes infrastructure simple for enterprises and can drive adoption and innovation in AI.

Eyrir Venture Management is the venture investment arm of Eyrir Invest, and manages the Eyrir Sprotar venture fund. Eyrir Sprotar focuses on supporting promising ventures for international growth and value creation, investing in seed-stage and early-stage companies. The firm's investment strategy spans all stages of a company´s growth, fromseed capital to funding early-stage companies as well as partaking in international growth.Eyrir Sprotar was founded in 2015 and is based in Reykjavík, Gullbringusysla.

Investment focus

Software, B2B, SaaS
Pre-Seed, Series A
Iceland, United States

Portfolio highlights

Digiphy — Build QR codes and templated pages to connect directly with customers, capture first-party data, tell your origin story, drive sales, product registration and more.
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.

venture capital and private equity for early stage businesses

Investment focus

3D Printing, Software, 3D Technology
Seed, Series A, Funding Round
United States, India, Sweden

Portfolio highlights

Quizy — Quizy Games is an online platform to participate in pool of quizzes and get earn money instantly. Try out your brain and luck together, earning money is fun.
Kaptio — Kaptio is the next generation booking system that places customer experience at the heart of the travel economy. Powered by the Salesforce Platform, it frees travel companies from their legacy systems – equipping them to embrace new ways of working, transform the customer experience and deliver operational efficiencies. Kaptio was launched byArnar Laufdal Olafsson and Ragnar Fjölnisson in 2012 and has offices in United Kingdom, Iceland and Germany.
Chargeup — Chargeup is a full-stack EV Financing & Asset Management Platform. We enable last-mile drivers with ownership and higher earnings

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

Besty AI — Bloom is the creator of an online data analysis platform that aims to transform data into revolutionary business outcomes. The firm platform uses artificial intelligence to give real time analytics and business insights, as well as interactive and enterprise data analytics, allowing business teams to monitor and make data-driven choices in realtime.
Scoop Analytics — Explore Scoop, your single platform for effortlessly combining and analyzing business data. Unlock actionable insights faster with our unique tool that scoops data from all your applications, allowing you to focus on making informed decisions without needing a data team.
Arya Health — Arya Works is more than just payroll software. It's a opporations and finance tool set powered by automation and real-time data. We help businesses streamline operations, save costs, and make employees happy by getting more out of pay.

Nick Gatfield - Co-Founder @ Synchronized

Investment focus

Internet, TV, Apps
Seed, Pre-Seed, Funding Round
France, Iceland, United Kingdom

Portfolio highlights

Karhoo — Karhoo, the first fully-integrated global booking platform for regulated Taxis and PHVs, is funded by RCI Bank and Services (Groupe Renault). It was reborn and remoulded from the assets of a previous business that learnt the hard way that competing against Uber, Didi and Lyft required a radically different and more collaborative approach tomobility. Now Karhoo remains an independent business contributing to Groupe Renault’s sustainable mobility‑as‑a‑service strategy, which covers connected, autonomous, shared, electric vehicles part of multimodal transport.
Overtune — With Overtune you can easily make your own music. Record with voice effects and make videos.
Synchronized — Synchronized.tv | Maximize the value of your video content in a digital world

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.

Omega ehf is a private investment vehicle that makes investments in private equity and a variety of ventures.

Investment focus

Banking, FinTech, Software
Series D
United Kingdom

Portfolio highlights

Meniga — Meniga helps banks use data to drive Digital Engagement, build Customer Loyalty & increase Revenue.
Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.

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.

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's LMS is your go-to for seamless training, compliance, and quality management systems. Enhance performance, retention and growth with our unified platform.
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.

Co-founder+CTO @ TheNumber - Senior Partner @ One Zero Capital

Investment focus

Apps, SaaS, Software
Angel, Series A
Iceland, Singapore

Portfolio highlights

GRID — Spreadsheets run the world and we run spreadsheets.
abillion — Find tips for plant-based food & products near you. Join the community to share reviews of restaurants & brands. Raise funds & drive sustainability!

Eyrir Vöxtur is an ESG fund, which focuses on investing in promising ventures for international growth and value creation. The fund invests in companies that have a positive impact on society and the environment.

Investment focus

Legal, Legal Tech, Document Management
Seed
Iceland

Portfolio highlights

Justikal — Justikal is an eCourt system that allows different stakeholders in legal proceedings to handle documents in a trusted & secure way by using eIDAS compliant trust services.
Laki Power — We supply power grid operators with advanced high-voltage line monitoring stations that enable them to optimise performance, safety and cost.

We help the daring build legendary companies.

Investment focus

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

Portfolio highlights

Roon — Your Trusted Guide for Health Conditions. Today we are focused on GBM, ALS, Dementia, and Fertility and Family Building.
Harmonic — Harmonic builds mathematical superintelligence. The company develops Mathematical Superintelligence (MSI), a next-generation artificial intelligence based on mathematical principles that ensures accuracy and eliminate hallucinations.
Pydantic Services — The team behind Pydantic are build developer tools that put developers first.

Two Ravens focuses on investing in pre-seed and early seed stage technology companies.

Investment focus

Portfolio highlights

Senvo — Centralized last mile data analytics for optimization, automation, and financial transparency.
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.

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

Zhipu AI — Zhipu AI combines large-scale knowledge map built by itself to form a two-wheel-driven artificial intelligence framework through R&D.
TrueLayer — We power faster and safer online payments with our open banking payments network. Onboard users, accept payments & make payouts in seconds. Learn more today.
Remedy Entertainment — Known for story-driven and visually stunning action games, Remedy have created blockbuster games such as Control, Alan Wake, and Max Payne.

Faber is a Lisbon-based venture capital firm investing in outstanding entrepreneurs who innovate at the intersection of science and technology to drive digital transformation and climate action. The firm combines a specialist focus on deep tech early-stage startups with dedicated funds, investment teams and expert advisors to actively help foundersbuild global companies powered by AI/data or climate/ocean technologies. Faber’s unique approach in Southern Europe is led by an entrepreneurial management partnership and backed by notable thesis-driven institutions and private investors. Investing since 2013, the firm has been an early investor in hard tech companies such as Unbabel, SWORD Health, Codacy, iLoF or YData

Investment focus

Software, Machine Learning, SaaS
Seed, Pre-Seed, Series A
Portugal, United Kingdom, United States

Portfolio highlights

Meight — Run your cargo on budget and on time with a few simple clicks, from your laptop. Forget phone calls, driver headaches, hardware and tech nightmares, forever.
PHOTON IP — PHOTON IP is a deeptech startup based in Eindhoven, the Netherlands. The company develops cutting edge technologies for advanced photonics applications.
1s1 Energy — 1s1 Energy is developing material technology for PEM water electrolysis systems for green hydrogen production. The company's mission is to develop viable and scalable solutions to reduce carbon emissions within the decade. 1s1 Energy Inc. was founded in 2019 by Daniel Sobek, Sukanta Bhattacharyya, and T. Don Tilley.

Eyrir Invest is an international investment company that focuses on investments in industrial companies that have the potential to become true global leaders.

Investment focus

Big Data, Analytics, Enterprise Software
Funding Round
Iceland

Portfolio highlights

Activity Stream — Activity Stream is a marketing platform made exclusively for the event industry.

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.

Investment focus

Information Technology, Apps, Sales
Funding Round
Turkey, Iceland

Portfolio highlights

Odeal — Oedeal is a online payment service company, dedicated in providing wide range of financial solutions to entrepreneurs.
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.

We bring you the Positive, Powerful and Personal stories from both emerging creatives and established giants in art, fashion, music and entertainment.

Investment focus

Apps, Music
Seed
Iceland

Portfolio highlights

Overtune — With Overtune you can easily make your own music. Record with voice effects and make videos.

Omega Algae Iceland emphasis to become a global, innovative, cost-effective and sustainable supplier of high quality ingredients extracted from Algae.Omega Algae, based in Iceland, emerged from an initiative of five founders who developed specific systems to maximize the utilisation of the resources supplied by nature to grow one of the oldestand essential organisms in the existence of life on earth. Realizing that the world population is growing, and food chains are stressed to supply the essential elements for the continuance of a healthy future, Omega Algae is able to address these challenges with efficient solutions.

Investment focus

Software, Information Technology
Seed
Iceland

Portfolio highlights

Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.

MGMT Ventures mission is to support and invest in founders pushing the boundaries of innovation in emerging and future industries.

Investment focus

Gaming, Sports, Seafood
Pre-Seed
Iceland

Portfolio highlights

Loki Foods — We're producing sustainable, plant-based foods from the Arctic. Iceland’s first plant-based cod and seafood!
Esports Coaching Academy — Esports Coaching Academy, the leading platform for youth esports training, education, and certification. Our academy offers top-quality courses, exercises, training sessions, and certifications.

Jeff Solomon is the Co-Founder of Markup Hero.

Investment focus

Mobile, iOS, Android
Seed
United States, Iceland

Portfolio highlights

The Kive Company — The Kive Company operates under the names Artkive and Lifekive. Artkive the leading service that helps parents celebrate their kids' art. Artkive offers the Artkive app for people who want to DIY or the Artkive Box for people who want to send in their art to be professionally photographed and turned into keepsake books or custom-framed mosaicprints. The Kive Company was incorporated in 2012 and is based in Los Angeles, California.
Umano — Umano is an audio streaming service.
Cubcoats — 2-in-1 wearable & playable transforming friends. A take everywhere that kids and parents equally adore.

Charles Huang, founder of the iconic gaming franchise, Guitar Hero.

Investment focus

Apps, Music, Computer
Seed, Series B
Taiwan, Iceland

Portfolio highlights

Bitmark — Bitmark develops technology that secures the property rights of unique digital assets, without relying on trusted third parties.
Overtune — With Overtune you can easily make your own music. Record with voice effects and make videos.

Hermann Kristjánsson

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.

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, Funding Round
United States, Mexico, Israel

Portfolio highlights

Grazzy — Grazzy improves retention and recruiting for hotels, bars, restaurants and salons by powering cashless tipping and instant payouts. Safe, secure, and simple to get started.
Kollegio — Kollegio is an AI-driven platform for college applications.
Foundation Health — Foundation Health is a telehealth and nationwide pharmacies and diagnostic distribution centre

Kristín Pétursdóttir

Investment focus

SaaS, Software, Productivity Tools
Angel
Iceland

Portfolio highlights

GRID — Spreadsheets run the world and we run spreadsheets.

Tennin is an early-stage angel investment firm.

Investment focus

Series A
Iceland

Portfolio highlights

Alda — Alda is a DEI software solution that actually works and offers Dashboard, Survey, Action plan and Micro-learning all in one place!
Smitten — Smitten Dating app makes it super easy to start a conversation with the people you match. Always have something to say; with engaging icebreakers, your conversations never dry up. Smitten dating app is free and available on Android and iOS.

Keen Venture Partners is a radically human venture capital firm that invests in fast-growing European scale-ups at the Series A and Series B stages

Investment focus

Software, SaaS, Artificial Intelligence
Series A, Series B, Seed
The Netherlands, Germany, United States

Portfolio highlights

Feather — Feather gives you insurance advice for expats in Germany. Our digital insurance agent will help you get the right insurance policies for your need.
Avalor AI — Enchaning the Tactical Value of Military Unmanned Systems
allO — Discover the best all-in-one restaurant system to manage operation and delight guests.

Welcome to L-Acoustics. We set the benchmark for pro audio sound systems and are always at the cutting-edge of audio technology.

Investment focus

Audio, Music, Software
Series B
United States

Portfolio highlights

Mixhalo — Mixhalo is a real-time audio platform that delivers an immersive experience for live events including concerts, conferences, festivals, sporting events, and anywhere people gather to hear content. Founded by Incubus Guitarist and songwriter Mike Einziger and internationally-acclaimed violinist, Ann Marie Simpson-Einziger, Mixhalo enables live eventorganizers to give audiences exactly what they came for, with real-time audio delivered directly to attendees’ own phones (via a free app) and headphones.It was established in 2016 and is headquartered in San Francisco, California.
Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.

Denmark's Export and Investment Fund (EIFO) serves as a single point of contact for Danish firms seeking risk-tolerant government finance. We aspire to help successful enterprises that can expand the Danish economy and green the world on a daily basis, guided by professionalism and an international perspective.

Investment focus

Software, Biotechnology, Information Technology
Seed, Series A, Funding Round
Denmark, United States, United Kingdom

Portfolio highlights

Orbex Space — Founded in 2015, Orbex is Europe’s leading private launch services company, focused entirely on supporting the needs of the small satellite industry.Orbex has developed one of the most advanced, low carbon, high performance micro-launch vehicles in the world. They launch customer satellites into polar and sun-synchronous low Earth orbits from aunique, modern launch location in the heart of the European continent.They offer a flexible core launch service and a wide suite of supporting services that make life easier for customers. Their European location means shorter supply lines, easier communications and reduced operational costs. Their advanced launch vehicle means higher reliability, more flexible mission profiles and a regular, scheduled launch service.
Capra Robotics — Our Mobile Robot Platform is a versatile solution optimized for outdoor use in any terrain. Read more about how the CAPRA can work for you.
Orbis Medicines — Orbis Medicines is a novel macrocyclic chemistry and computational platform for high-throughput drug discovery.

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