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Top 50 Software Startup Investors in Iceland (August 2026)

The most active venture capital funds and angel investors investing in Iceland Software startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Iceland Software startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Frumtak Ventures
VC Fund
19 Iceland, Estonia, United States Seed, Series A Software, Information Technology, SaaS $974k–$20M
New Business Venture Fund
VC Fund
16 Iceland, United States, China Seed, Pre-Seed Software, Health Care, SaaS $299k–$2.6M
Brunnur Ventures
VC Fund
12 Iceland, United States, Japan Seed, Series A, Angel Software, SaaS, Gaming $878k–$16M
Crowberry Capital
VC Fund
10 Iceland, Denmark, Finland Seed, Series A, Pre-Seed Software, Gaming, Health Care $400k–$17M
Iceland Venture Studio
VC Fund
4 Iceland, United States, India Seed, Pre-Seed Software, SaaS, Education $500k–$3M
Karma Ventures
VC Fund
3 Estonia, United States, Finland Series A, Seed, Series B Software, Artificial Intelligence, Information Technology $549k–$30M
Preceptor Capital
VC Fund
3 Iceland, United States Seed, Series A FinTech, Computer, Software $2M–$6.1M
Sisu Game Ventures
VC Fund
3 Finland, United States, France Seed, Series A, Pre-Seed Gaming, Video Games, Software $110k–$38M
byFounders
VC Fund
3 Denmark, United States, Sweden Seed, Pre-Seed, Series A Software, Artificial Intelligence, Health Care $800k–$65M
Eyrir Vöxtur
VC Fund
2 Iceland Venture - Series Unknown, Seed, Series A Legal, Retail, Sensor $1.8M–$3M
Inventure
VC Fund
2 Finland, Sweden, United States Seed, Series A, Series B Software, Information Technology, Health Care $549k–$25M
David Helgason
Angel
2 United States, Denmark, Finland Seed, Series A, Pre-Seed Software, Gaming, Artificial Intelligence $242k–$30M
Teya
VC Fund
2 Iceland, Turkey, United Kingdom Seed, Venture - Series Unknown, Pre-Seed Software, Financial Services, Information Technology $1.2M–$4M
BlueYard Capital
VC Fund
2 United States, Germany, United Kingdom Seed, Series A, Pre-Seed Software, Biotechnology, Blockchain $200k–$47M
Saint-Gobain NOVA
VC Fund
2 United States, Germany, Israel Seed, Series B, Series A Energy, Construction, Information Technology $1.2M–$25M
Slack Fund
VC Fund
2 United States, Canada, United Kingdom Seed, Series A, Series B Software, SaaS, Information Technology $2M–$50M
Shanda Group
VC Fund
2 United States, China, Israel Seed, Series A, Pre-Seed Artificial Intelligence, Software, Health Care $100k–$44M
Behold Ventures
VC Fund
2 Sweden, Iceland, Finland Seed, Pre-Seed, Series A Gaming, Sports, eSports $500k–$7M
Investa
VC Fund
2 Iceland, United States Seed, Angel SaaS, Software, Events $1M–$1.3M
Chrysalix Venture Capital
VC Fund
2 United States, Canada, The Netherlands Series B, Series A Energy, Manufacturing, CleanTech $2M–$24M
Reaktor Ventures
VC Fund
2 Finland, Germany, United States Seed, Pre-Seed, Series A Internet, Software, E-Commerce $137k–$6.8M
Christian Jantzen
Angel
2 Denmark, Sweden, Finland Seed, Pre-Seed, Angel SaaS, Software, Artificial Intelligence $233k–$3.5M
Arion Bank
VC Fund
2 Iceland Debt Financing, Seed, Post-IPO Debt Farming, Seafood, Mobile $15k–$148M
Nordic Ignite
VC Fund
2 Norway, Iceland, Sweden Pre-Seed, Angel SaaS, Travel, Content
Kristín Pétursdóttir
Angel
1 Iceland Angel SaaS, Software, Productivity Tools
Sequoia Capital
VC Fund
1 United States, China, India Series A, Series B, Series C Software, Information Technology, Artificial Intelligence $6.4M–$230M
Eyrir Venture Management
VC Fund
1 United States, Iceland, Switzerland Pre-Seed, Series A Software, B2B, SaaS $3.4M–$17M
Bragiel Brothers
VC Fund
1 United States, Finland, Japan Seed, Series A, Pre-Seed Software, Information Technology, FinTech $255k–$68M
1/0 Capital
VC Fund
1 United States, Singapore, Iceland Seed, Series A, Series B FinTech, Financial Services, Software $850k–$36M
Ziggy Jonsson
Angel
1 Iceland, Singapore Angel, Series A Apps, SaaS, Software $10M–$10M
Charles Huang
Angel
1 Taiwan, Iceland Seed, Series B Apps, Music, Computer
Sukna Ventures
VC Fund
1 Saudi Arabia, United States, United Arab Emirates Seed, Series A Financial Services, FinTech, Information Technology
Riverstone Ventures
VC Fund
1 Iceland SaaS, Software, Marine Technology
Innoport
VC Fund
1 Germany, India, Togo Seed, Series A Software, SaaS, Logistics
Faber
VC Fund
1 Portugal, United States, United Kingdom Seed, Pre-Seed, Series A Software, Artificial Intelligence, SaaS
Omega ehf
VC Fund
1 United Kingdom Series D Banking, FinTech, Software
KOMPAS VC
VC Fund
1 Germany, Israel, United States Series A, Seed, Series B Software, Construction, Information Technology
Shubert Organization
VC Fund
1 Iceland Big Data, Analytics, Enterprise Software
Export and Investment Fund
VC Fund
1 Denmark, United States, United Kingdom Seed, Series A Software, Biotechnology, Information Technology
Menlo Ventures
VC Fund
1 United States, Canada, Sweden Series B, Series A, Series C Software, Information Technology, Artificial Intelligence $6.3M–$120M
Omega Algae
VC Fund
1 Iceland Seed Software, Virtual Reality, AI Infrastructure
Capital A Partners
VC Fund
1 United States, India, Sweden Seed, Series A Software, 3D Printing, 3D Technology $270k–$7M
Tencent
VC Fund
1 China, United States, United Kingdom Series B, Series A, Series C Software, Financial Services, Artificial Intelligence $4M–$400M
Sigþór Sigmarsson
Angel
1 Iceland, United Kingdom Seed, Series D, Venture - Series Unknown Software, Health Care, Banking $400k–$1.8M
Ridge Ventures
VC Fund
1 United States, Canada, Finland Series A, Seed, Series B Software, Internet, Information Technology $1.4M–$65M
Kjartan Olafsson
Angel
1 Denmark, Iceland Angel, Series A Software, B2B, Apps
Anthony Deighton
Angel
1 Iceland Angel SaaS, Software, Productivity Tools
Mesa Ventures
VC Fund
1 United States, Germany, Iceland Seed, Series A Mobile, Software, E-Commerce $1M–$5.8M
Ari Helgason
Angel
1 United Kingdom, France, Denmark Seed, Series A, Angel Software, SaaS, Analytics $2.5M–$17M
New Enterprise Associates
VC Fund
1 United States, India, United Kingdom Series A, Series B, Series C Software, Health Care, Biotechnology $5.8M–$110M
Access all 78 investors in Iceland Software startups.

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

Frumtak Ventures
VC Fund · Reykjavík, Gullbringusysla, Iceland · 19 investments in Iceland Software startups

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.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A
  • Geography: Iceland, Estonia, United States

Investor stats

  • Total investments: 41
  • 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 the self-improving B2B website platform that automatically ships data-driven improvements every week so you get more leads and customers without becoming a website expert.
  • 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 — Euler is a software company focused on addressing the issue of build-to-build and machine-to-machine variability in metal additive manufacturing (AM).
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New Business Venture Fund
VC Fund · Reykjavík, Gullbringusysla, Iceland · 16 investments in Iceland Software startups

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.

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Investment focus

  • Industry: Software, Health Care, SaaS
  • Stage:Seed, Pre-Seed
  • Geography: Iceland, United States, China

Investor stats

  • Total investments: 42
  • Round size: Seed $400k–$2.6M; Pre-Seed $299k–$520k
  • Lead/follow: 62% lead, 38% 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
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Brunnur Ventures
VC Fund · Reykjavík, Gullbringusysla, Iceland · 12 investments in Iceland Software startups

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

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Investment focus

  • Industry: Software, SaaS, Gaming
  • Stage:Seed, Series A, Angel
  • Geography: Iceland, United States, Japan

Investor stats

  • Total investments: 32
  • Round size: Seed $1M–$5.3M; Angel $878k–$1M; 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 — Building Next-Generation RNA-LNP Therapeutics: experienced drug developers with distinctive technologies - for partners, programs and patients
  • 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.
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Crowberry Capital
VC Fund · Reykjavík, Gullbringusysla, Iceland · 10 investments in Iceland Software startups

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.

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Investment focus

  • Industry: Software, Gaming, Health Care
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Iceland, Denmark, Finland

Investor stats

  • Total investments: 50
  • Round size: Seed $1.6M–$4.4M; Pre-Seed $400k–$1.3M; Series A $5.7M–$17M
  • Lead/follow: 48% lead, 52% follow
  • Last fund: Likely still investing — fund raised in 2021

Portfolio highlights

  • Quanscient — Quanscient develops multiphysics simulation software utilizing quantum computing algorithms to improve simulation technology. Its Computer Aided Engineering (CAE) platform integrates a unique combination of cloud-native multiphysics solvers, advanced cloud computing, and future quantum integration. The platform also offers engineers over ahundredfold increase in simulation throughput to enable fully digital R&D processes, addressing complex technology challenges in industries like fusion energy, 6G/7G, advanced semiconductors, biomedical, automotive, and aerospace.
  • 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 — Read more about danish audiology scale-up Augmented Hearing, driving the world's most ambitious audiology solutions and innovations.
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Iceland Venture Studio
VC Fund · Reykjavík, Gullbringusysla, Iceland · 4 investments in Iceland Software startups

We help people grow and build decentralized companies

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Investment focus

  • Industry: Software, SaaS, Education
  • Stage:Seed, Pre-Seed
  • Geography: Iceland, United States, India

Investor stats

  • Total investments: 13
  • Round size: Seed $500k–$3M; Pre-Seed $950k–$1M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — raised $5M in 2019

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.
  • 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.
  • Expertrons — Expertrons is an upskilling platform that offers advanced training programs | BSFI | HR | Marketing and many more to assure 100% professional success.
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Karma Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 3 investments in Iceland Software startups

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

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Series A, Seed, Series B
  • Geography: Estonia, United States, Finland

Investor stats

  • Total investments: 52
  • Round size: Seed $549k–$4.4M; Series A $4M–$16M; Series B $3.1M–$30M
  • Lead/follow: 60% lead, 40% follow
  • Last fund: Likely still investing — raised $106M in 2021

Portfolio highlights

  • Infermedica — Clinical AI triage that guides patients to the right care via chat, voice, or call center. Built by clinicians trusted by patients.
  • Leil Storage — ON-PREMISES DISTRIBUTED FILE STORAGE WITH CLOUD-SCALE DENSITY+23% extra FREE capacity and density NOW +23% extra FREE capacity and density NOW +20% lower CO₂ emissions and power costs NOW up to +70% saved energy in the futureFirst distributed filesystem that supports the biggest HDDs on the planet, enabling enterprises with HM-SMR basedstorage.
  • Starship Technologies — The future of delivery - today!
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Preceptor Capital
VC Fund · 3 investments in Iceland Software startups

Preceptor Capital is an investment firm.

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Investment focus

  • Industry: FinTech, Computer, Software
  • Stage:Seed, Series A
  • Geography: Iceland, United States

Investor stats

  • Total investments: 4
  • Round size: Seed $2M–$6.1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Anonybit — QQEMAS merupakan situs slot777 rekomendasi penggemar situs slot gacor hari ini yang populer memberikan bonus member baru 100% dan cashback.
  • 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.
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Sisu Game Ventures
VC Fund · Helsinki, Southern Finland, Finland · 3 investments in Iceland Software startups

Sisu Game Ventures is an early-stage venture capital fund focused 100% on games. We set up shop in 2014 to support the most promising founders in the industry. Sisu has deep roots in the Nordic region, but our network of founders is fully global.The Sisu team consists of Samuli, Paul, Erik, Kalle, Moaffak, Kadri, and Jere - all of whom haveextensive backgrounds in the game industry and startup circles, both as entrepreneurs and investors. We've founded and built sixteen game companies since the early 90s and had several successful exits. Apart from funding companies, the team uses their expertise to act as a studio builder. Individual founders are supported in building their team, honing their product strategy and in gathering the right group of investors.

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Investment focus

  • Industry: Gaming, Video Games, Software
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Finland, United States, France

Investor stats

  • Total investments: 58
  • Round size: Seed $576k–$4.6M; Pre-Seed $110k–$1.2M; Series A $6.3M–$38M
  • Lead/follow: 21% lead, 79% follow
  • Last fund: May invest from a new fund soon — raised $50M in 2021

Portfolio highlights

  • Torpor Games — Experiences that challenge and provoke. Suzerain - a fictional political drama set in the 1950s. How will you rule? Out now for PC, Mobile, Xbox, PS & Switch
  • Kinoa Labs — A real-time, AI-powered platform to engage, retain, and monetize mobile game users - launched and updated live, without waiting on development.
  • Antihero Studios — Games Worth Sharing- by former Brawl Stars, Clash Royale and Candy Crush devs.
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byFounders
VC Fund · Copenhagen, Hovedstaden, Denmark · 3 investments in Iceland Software startups, 17 in the past 12 months

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.

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Investment focus

  • Industry: Software, Artificial Intelligence, Health Care
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Denmark, United States, Sweden

Investor stats

  • Total investments: 124
  • Round size: Seed $1.5M–$9.4M; Pre-Seed $800k–$4.2M; Series A $6.1M–$65M
  • Lead/follow: 51% lead, 49% follow
  • Last fund: May invest from a new fund soon — raised $117M in 2021

Portfolio highlights

  • Visoid — Render your 3D models with ease! Quick and easy rendering software for architects, powered by AI. Try Visoid for free!
  • Verda (formerly DataCrunch) — DataCrunch is a cloud service provider which facilitates utilization and integration of state of the art AI/ML models
  • Spiral Hydrogen — All-in-one, bubble-free centrifugal electrolyzer with an embedded axial flux generator that sets a new standard in efficiency and simplicity.
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Eyrir Vöxtur
VC Fund · Reykjavík, Gullbringusysla, Iceland · 2 investments in Iceland Software startups

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.

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Investment focus

  • Industry: Legal, Retail, Sensor
  • Stage:Venture - Series Unknown, Seed, Series A
  • Geography: Iceland

Investor stats

  • Total investments: 4
  • Round size: Venture - Series Unknown $1.8M–$3M
  • Lead/follow: 75% lead, 25% follow

Portfolio highlights

  • Tulipop — The enchanting world of Tulipop, dreamt up by mother of two Signy and brought to market by her best friend Helga, is an original, beautiful and magical children's range unlike any other. Both cuddly and gothic and strongly inspired by forms and colours in nature, the Tulipop world features intriguing characters such as Bubble, a shy and dreamymushroom boy and Gloomy, an adventurous mushroom girl, who loves surprises and cheeky little pranks - challenging gender stereotypes.
  • Laki Power — We supply power grid operators with advanced high-voltage line monitoring stations that enable them to optimise performance, safety and cost.
  • DTE ehf — DTE introduces breakthrough real-time process control analytics for metals production and processing towards Industry 4.0, through our robotic hardware and software solutions, automating current manual sampling processes for improved quality, cost, efficiency and safety.
Show all investments...

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

Browse database — It's Free!
Inventure
VC Fund · Helsinki, Southern Finland, Finland · 2 investments in Iceland Software startups

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

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Seed, Series A, Series B
  • Geography: Finland, Sweden, United States

Investor stats

  • Total investments: 176
  • Round size: Seed $549k–$5.9M; Series A $1.3M–$17M; Series B $1.3M–$25M
  • Lead/follow: 48% lead, 52% follow
  • Last fund: Likely still investing — raised $169M in 2022

Portfolio highlights

  • Leetify — We help gamers identify their weaknesses, work on those weaknesses and track their progression.
  • UpCloud — World's fastest cloud servers with a 100% uptime SLA! Sign up for a free trial today.
  • ONEiO — ONEiO is a cloud-native integration service provider connecting people, processes, and tools – enabling seamless collaboration without traditional integration hassle. Provided as a turn-key solution, as self-service, or something in between. You choose.
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David Helgason
Angel · Copenhagen, Hovedstaden, Denmark · 2 investments in Iceland Software startups

David is a technologist, the founder of Unity Technologies, non-exec director to others, and a restless entrepreneur with a passion for creating feedback loops between innovation and teams and products, applying new and old business models to changing industries, and pushing people to do the very best they can do.David's background is inprogramming, an assortment of university dabbling, creating companies, and helping entrepreneurs. He served as CEO of Unity Technologies since co-founding it in 2003 and until October 2014, with an unflinching vision to democratize game development, and to develop technology and business models for the next phase of the games industry. David Helgason attended the University of Copenhagen.

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Investment focus

  • Industry: Software, Gaming, Artificial Intelligence
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Denmark, Finland

Investor stats

  • Total investments: 79
  • Round size: Seed $1.1M–$8M; Pre-Seed $242k–$2.4M; Series A $4.3M–$30M
  • Lead/follow: 3% lead, 97% follow

Portfolio highlights

  • ScyAI — Risk intelligence that thinks with you.
  • Noah — API-first stablecoin payments, enterprise-grade compliance and real-time settlements, powered by stablecoin technology.
  • Flow Engineering — Requirements management, made collaborative
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Teya
VC Fund · London, England, United Kingdom · 2 investments in Iceland Software startups

Teya is an all-in-one solution for small and growing businesses. From payments, to loyalty, to the cash advance merchants use to give their shops that facelift – Teya has helped over 300,000 business owners to connect with the joy of running their business.

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Investment focus

  • Industry: Software, Financial Services, Information Technology
  • Stage:Seed, Venture - Series Unknown, Pre-Seed
  • Geography: Iceland, Turkey, United Kingdom

Investor stats

  • Total investments: 6
  • Round size: Seed $1.2M–$3.8M; Venture - Series Unknown $3M–$4M
  • Lead/follow: 100% lead, 0% 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.
  • Fanbase — Fan engagement software built for the business of sport. Launch digital ticketing, memberships, hospitality packages in a matter of hours.
  • Flow — Flow is FinTech 3.0: It let's you automate payments between your bank accounts and wallets. Based on triggers and actions you can transfer your money automatically to the accounts you choose. Use Flow to automate a budgetting system, your investing, buying crypto or to distribute your money the way you like it. Where the previous generationpayment companies needed to build and maintain expensive payment rails, Flow focusses on leveraging Open Banking. People trust Flow to help with their cashflow automation.
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BlueYard Capital
VC Fund · Berlin, Berlin, Germany · 2 investments in Iceland Software startups

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

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Investment focus

  • Industry: Software, Biotechnology, Blockchain
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Germany, United Kingdom

Investor stats

  • Total investments: 112
  • Round size: Seed $1.2M–$14M; Pre-Seed $200k–$5.4M; Series A $7M–$47M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely still investing — raised $185M in 2022

Portfolio highlights

  • Rapidata — Fast and reliable data labeling that powers your AI. Define your label needs now and get the results in minutes.
  • Blockspace — Blockspace is an Ethereum infrastructure company operate out-of-protocol transaction pipelines.
  • Blockspace — Connecting the world to Ethereum.
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Saint-Gobain NOVA
VC Fund · Courbevoie, Ile-de-France, France · 2 investments in Iceland Software startups

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

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Investment focus

  • Industry: Energy, Construction, Information Technology
  • Stage:Seed, Series B, Series A
  • Geography: United States, Germany, Israel

Investor stats

  • Total investments: 25
  • Round size: Seed $1.2M–$7M; Series A $3M–$12M; Series B $4.2M–$25M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • LIGHTYX — LightYX has developed BeamerOne‏‏™, a robotic system that utilizes a precise laser to project any 2D/3D digital plan onto construction surfaces, whether they are flat or curved. This innovation allows construction workers to view the blueprint, accurately scaled, directly on the work surface. This capability enables them to quickly comprehendthe necessary actions with minimal errors.Additionally, the BeamerOne‏‏™ by LightYX facilitates the identification of inconsistencies between the digital plan and the actual construction ("as built") through a mobile app. Workers can effortlessly align the projected plans with the "as built" conditions. Once the adjustments are complete, the worker can save the updated drawing and seek approval from architects or share it with other stakeholders involved in the project.By offering this solution, LightYX ensures that construction workers can accurately implement 2D and 3D plans right from the start, while providing managers with the ability to continually monitor the progress of the layout implementation process.
  • Solar Materials — Solar Materials primarily engages in the development of technologies for the sustainable and economical recycling of solar modules.
  • Noble Gas Systems — Noble Gas manufactures high pressure, safe, light-weight, conformable gas storage and delivery for all compressed gasses, including nitrogen, air, oxygen, hydrogen and natural gas.
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Slack Fund
VC Fund · Daly City, California, United States · 2 investments in Iceland Software startups

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

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Seed, Series A, Series B
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 111
  • Round size: Seed $2M–$6.1M; Series A $8M–$30M; Series B $16M–$50M
  • Lead/follow: 17% lead, 83% follow

Portfolio highlights

  • Knapsack — Knapsack unites your design and product teams around a shared design system: a central source of truth. A design system platform serving designers and developers.
  • WorkMade — A smarter banking solution for freelancers: Automatically calculates, prepares, pays taxes, discovers write-offs, and gets you paid fast.
  • Ensemble AI — Ensemble introduces Dark Matter, a net-new ML algorithm that creates richer representations of your data to make any model, in any domain, perform better.
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Shanda Group
VC Fund · Menlo Park, California, United States · 2 investments in Iceland Software startups

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.

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Investment focus

  • Industry: Artificial Intelligence, Software, Health Care
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, China, Israel

Investor stats

  • Total investments: 41
  • Round size: Seed $839k–$11M; Pre-Seed $100k–$750k; Series A $5.6M–$44M
  • Lead/follow: 34% lead, 66% follow

Portfolio highlights

  • MiroFish — The World's First Open-Source Swarm Agent Prediction System. Web: https://t.co/F7gQDy0yXO Github: https://t.co/9MhcLAIs7N Discord: https://t.co/wCnMAT2I8f IG: @mirofish_ai
  • Buildroid — Autonomous steel factories. A new Steel Robotics experience is on the way.
  • Trener Robotics — Trener Robotics develops AI software that enables industrial robots to operate autonomously, adapt to variability, and deploy faster in manufacturing.
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Behold Ventures
VC Fund · 2 investments in Iceland Software startups

Behold Ventures is a venture capital fund supporting early-stage video game startups led by passionate entrepreneurs shaping the future of interactive entertainment.

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Investment focus

  • Industry: Gaming, Sports, eSports
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Sweden, Iceland, Finland

Investor stats

  • Total investments: 12
  • Round size: Seed $2.1M–$7M; Pre-Seed $500k–$750k
  • Lead/follow: 67% lead, 33% follow
  • Last fund: Likely still investing — raised $26M in 2022

Portfolio highlights

  • Honig Games — Honig Games is a mobile gaming company that builds and distributes high-quality games designed to be shared and experienced together. The company uses a multi-platform distribution approach to reduce reliance on any single app store for user acquisition. It incorporates AI-first development strategies to scale game production efficiently andsustainably. The studio focuses on creating mobile-first games that encourage community sharing and viral engagement.
  • Seven Stars — De perfecte match in IT. Die maken wij. Als IT-flex regisseur en specialist in IT-bemiddeling verbinden we professionals met de beste IT-opdrachten. Snel, soepel en zonder gedoe. We make IT spark.
  • Seven Stars — Seven Stars is a startup for creating captivating mobile games with a talented, diverse team.
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Investa
VC Fund · Reykjavík, Gullbringusysla, Iceland · 2 investments in Iceland Software startups

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.

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Investment focus

  • Industry: SaaS, Software, Events
  • Stage:Seed, Angel
  • Geography: Iceland, United States

Investor stats

  • Total investments: 4
  • Round size: Seed $1M–$1.3M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • GRID — GRID is the spreadsheet engine for agentic products. Install from npm with a free evaluation license, build with your agent, and license commercially when you ship.
  • 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.
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Chrysalix Venture Capital
VC Fund · Vancouver, British Columbia, Canada · 2 investments in Iceland Software startups

Leading global venture capital fund that invests in resource intensive industries across North America and Europe.

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Investment focus

  • Industry: Energy, Manufacturing, CleanTech
  • Stage:Series B, Series A
  • Geography: United States, Canada, The Netherlands

Investor stats

  • Total investments: 107
  • Round size: Series A $2M–$16M; Series B $5.4M–$24M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • Luffy AI — Discover Luffy AI's Neuroplastic AI for rapid, adaptive industrial control in robotics, drives, automotive, and more. Enhance system performance and reduce calibration needs. Replace or complement PID loops with Adaptive Control for your Physical AI usecase.
  • Geopyörä Oy — Geopyörä is the state of the art in rock breakage characterization testing and it was developed to allow mining companies to test several samples at low cost for geometallurgical, comminution design and control applications
  • Rithmik Solutions — We increase uptime in mines with advanced analytics that optimize maintenance and extend equipment life.
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Reaktor Ventures
VC Fund · Helsinki, Southern Finland, Finland · 2 investments in Iceland Software startups

Reaktor Ventures they invest in seed stage companies and helps them to create markets.

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Investment focus

  • Industry: Internet, Software, E-Commerce
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Finland, Germany, United States

Investor stats

  • Total investments: 58
  • Round size: Seed $137k–$2M; Pre-Seed $159k–$1.8M; Series A $1.7M–$6.8M
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • Valpas — Valpas is the hygiene protocol that reassures your future guests and keeps your hotel clean from the most uncontrollable: bed bugs
  • allies.digital — Allies is a match-making platform curating businesses with IT-, digital and creative agencies. No more miss-matches when buying IT & creative services.
  • StarBerry Games — StarBerry Games GmbH is a mobile games company based in Berlin, Germany. The company develops free-to-play casual mobile games and is best known for its games Merge Mayor and Idle Coffee Corp.
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Christian Jantzen
Angel · London, England, United Kingdom · 2 investments in Iceland Software startups

Danish angel investor, based in London.

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Investment focus

  • Industry: SaaS, Software, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Denmark, Sweden, Finland

Investor stats

  • Total investments: 31
  • Round size: Seed $500k–$3.5M; Pre-Seed $233k–$1.8M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Heyhack — Automated web application security testing, protection, and reporting for software-as-a-service businesses.
  • Leetify — We help gamers identify their weaknesses, work on those weaknesses and track their progression.
  • 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!
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Arion Bank
VC Fund · Reykjavík, Gullbringusysla, Iceland · 2 investments in Iceland Software startups

Arion bank offers financial services to companies, institutional investors, and individuals.

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Investment focus

  • Industry: Farming, Seafood, Mobile
  • Stage:Debt Financing, Seed, Post-IPO Debt
  • Geography: Iceland

Investor stats

  • Total investments: 8
  • Round size: Seed $15k–$670k; Debt Financing $84M–$148M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • LAXEY — LAXEY specializes in sustainable land-based aquaculture and the development of fish farming facilities.
  • Kaldvik — Kaldvík is a fishing company specializing in sustainable salmon farming. The company focuses on environmental responsibility, with an emphasis on eco-conscious practices, community engagement, and advanced salmon welfare management. Their operations are free from antibiotics and salmon lice, ensuring high-quality, ethically sourced products.
  • First Water — First Water is revolutionizing the salmon farming industry with its innovative approach to sustainable aquaculture. Founded in 2017, the company set out with a clear vision: to produce high-quality salmon while minimizing environmental impact and leading the way in responsible seafood production.
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Nordic Ignite
VC Fund · Oslo, Oslo, Norway · 2 investments in Iceland Software startups

Dedicated to supporting and investing in innovative startups

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Investment focus

  • Industry: SaaS, Travel, Content
  • Stage:Pre-Seed, Angel
  • Geography: Norway, Iceland, Sweden

Investor stats

  • Total investments: 5
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • 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.
  • Vandre — Vandre - Sustainable workwear lifecycle management
  • Vilje Bionics — 1 in 4 will be affected by a stroke during their lifetime. Many stroke survivors must live with permanently impaired arm and hand function. This significant disability makes them dependent on others for activities in daily life and leads to painful complications such as stiff joints. Vilje Bionics offers the world’s first commercial and mobilerobotic exoskeleton that assists motion in the entire arm. With the help of our smart sensors and unique software, the user controls the movement of the assistive device. The aid is hence not a prosthesis, but an exoskeleton assisting a disabled arm. Our solution transforms dreams into possibilities. We provide a) independence in tasks that require two hands, b) increased energy for hobbies and social activities, c)support of weakened shoulder, without passivizing it, and d) preventing strain injuries and pain due to e.g., contractures and stiff joints.
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Kristín Pétursdóttir
Angel · 1 investments in Iceland Software startups

Kristín Pétursdóttir

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Investment focus

  • Industry: SaaS, Software, Productivity Tools
  • Stage:Angel
  • Geography: Iceland

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • GRID — GRID is the spreadsheet engine for agentic products. Install from npm with a free evaluation license, build with your agent, and license commercially when you ship.
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Sequoia Capital
VC Fund · Menlo Park, California, United States · 1 investments in Iceland Software startups

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

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Series A, Series B, Series C
  • Geography: United States, China, India

Investor stats

  • Total investments: 2067
  • Round size: Series A $6.4M–$50M; Series B $11M–$100M; Series C $12M–$230M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: May invest from a new fund soon — raised $65M in 2018

Portfolio highlights

  • Medallion — Provider credentialing and enrollment reimagined. Accelerate time-to-revenue, stay compliant, and scale provider operations, without adding headcount, through automated credentialing and enrollment.
  • Faire — Faire helps local stores discover and try thousands of unique items risk-free.
  • Faire — A wholesale technology platform empowering brands and retailers to strengthen the unique character of local communities.
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Eyrir Venture Management
VC Fund · Reykjavík, Gullbringusysla, Iceland · 1 investments in Iceland Software startups

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.

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Investment focus

  • Industry: Software, B2B, SaaS
  • Stage:Pre-Seed, Series A
  • Geography: United States, Iceland, Switzerland

Investor stats

  • Total investments: 4
  • Round size: Series A $3.4M–$17M
  • Lead/follow: 25% lead, 75% follow

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.
  • Hedera Dx — With the use of Hedera Dx's liquid biopsy solution, hospital labs will be able to conduct clinically useful liquid biopsies on their own. This will greatly simplify tumor profiling. It is difficult to accomplish IVD compliance, privacy infrastructure, and validation, and even if these challenges are overcome, the current software workflows areinefficient to use and lack key capabilities.Hedera Dx was established on July 1, 2021 in Epalinges, Vaud.
  • 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.
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Bragiel Brothers
VC Fund · San Francisco, California, United States · 1 investments in Iceland Software startups

Bragiel Brothers is an early-stage venture capital fund that invests in seed and Series A rounds. Dan Bragiel launched the firm in San Francisco, California in 2016.

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Investment focus

  • Industry: Software, Information Technology, FinTech
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Finland, Japan

Investor stats

  • Total investments: 77
  • Round size: Seed $1M–$7M; Pre-Seed $255k–$3.8M; Series A $6.7M–$68M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Salmon Labs — Use Salmon to transform your CRM. Effortlessly clean, verify, and enrich your data. with AI capabilities. Keep Your CRM Data Fresh and Dynamic.
  • Assured Health — Streamline healthcare credentialing, licensing & payor enrollment with Assured's all-in-one platform. Automate admin Ops, boost efficiency & manage providers effortlessly.
  • Inspectify — If you are looking to buy or sell a home, Inspectify helps you find the best home inspectors in your area.
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1/0 Capital
VC Fund · New York, New York, United States · 1 investments in Iceland Software startups

1/0 Capital is a privately held partnership that invests in growth stage companies.

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Investment focus

  • Industry: FinTech, Financial Services, Software
  • Stage:Seed, Series A, Series B
  • Geography: United States, Singapore, Iceland

Investor stats

  • Total investments: 23
  • Round size: Seed $850k–$5.3M; Series A $7M–$30M; Series B $2.7M–$36M
  • Lead/follow: 17% lead, 83% follow

Portfolio highlights

  • Span — Span reinvented the electrical panel. Control every circuit in your home from your phone. Contact us!
  • abillion — Find tips for plant-based food & products near you. Join the community to share reviews of restaurants & brands. Raise funds & drive sustainability!
  • Climb Credit — Climb Credit (NMLS# 1240013) is an innovative student lending platform that makes career creation and transformation more accessible, affordable, and accountable than ever before. Driven by a mission to empower individuals to unlock their career potential – no matter what their credit profile – Climb identifies programs and schools with ademonstrated ability to improve the earnings of their graduates. Then they provide learners with financing options that are priced and structured to meet the unique needs of those seeking career elevation and increased earning power.Recognizing the dynamic and diverse nature of an economy in rapid change, Climb partners with schools that teach everything from cybersecurity to pilot training, heavy machine operation to data science, and culinary arts to coding. While some colleges are struggling to meet the real-world needs of their students, Climb and its partner schools are committed to an inspiring practicality that brings real career results as individuals Own Their Next chapter.
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Ziggy Jonsson
Angel · New York, New York, United States · 1 investments in Iceland Software startups

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

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Investment focus

  • Industry: Apps, SaaS, Software
  • Stage:Angel, Series A
  • Geography: Iceland, Singapore

Investor stats

  • Total investments: 3
  • Round size: Series A $10M–$10M
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • GRID — GRID is the spreadsheet engine for agentic products. Install from npm with a free evaluation license, build with your agent, and license commercially when you ship.
  • abillion — Find tips for plant-based food & products near you. Join the community to share reviews of restaurants & brands. Raise funds & drive sustainability!
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822 industries, 177 countries. Updated daily. Emails and phones included.

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Charles Huang
Angel · 1 investments in Iceland Software startups

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

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Investment focus

  • Industry: Apps, Music, Computer
  • Stage:Seed, Series B
  • Geography: Taiwan, Iceland

Investor stats

  • Total investments: 2
  • Lead/follow: no public data

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.
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Sukna Ventures
VC Fund · Riyadh, Ar Riyad, Saudi Arabia · 1 investments in Iceland Software startups

Sukna ventures is a venture studio and fund based in Saudi Arabia.

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Investment focus

  • Industry: Financial Services, FinTech, Information Technology
  • Stage:Seed, Series A
  • Geography: Saudi Arabia, United States, United Arab Emirates

Investor stats

  • Total investments: 14
  • Lead/follow: no public data

Portfolio highlights

  • Octa — Reduce DSO by 30%, save 20+ hours per week, and delight customers with our all-in-one platform.
  • 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.
  • InfiniLink — Empowering Hyperscale Datacenters Building Energy-Efficient Ultra-High-Speed Connectivity Solutions
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Riverstone Ventures
VC Fund · Nyack, New York, United States · 1 investments in Iceland Software startups

Riverstone Ventures focuses on early stage climatetech companies.

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Investment focus

  • Industry: SaaS, Software, Marine Technology
  • Geography: Iceland

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

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.
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Innoport
VC Fund · Hamburg, Hamburg, Germany · 1 investments in Iceland Software startups

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.

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Investment focus

  • Industry: Software, SaaS, Logistics
  • Stage:Seed, Series A
  • Geography: Germany, India, Togo

Investor stats

  • Total investments: 16
  • Lead/follow: no public data

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.
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Faber
VC Fund · Lisbon, Lisboa, Portugal · 1 investments in Iceland Software startups

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 helpfounders build global companies powered by AI/Data, Web3 or Ocean/Climate 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.

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Investment focus

  • Industry: Software, Artificial Intelligence, SaaS
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Portugal, United States, United Kingdom

Investor stats

  • Total investments: 76
  • Lead/follow: no public data

Portfolio highlights

  • YPLASMA — YPlasma, an INTA spin-off, develops plasma actuators for ionic flow control, enabling advancements in Energy and Electronics.
  • RESONIKS — It's data that drives resilient and sustainable supply chains. Implement SUPPLYZ solutions to gather real-time inventory data for your products and materials and use this data to automate your processes, offer new services and prevent supply chain disruptions. SUPPLYZ can be implemented for both industrial and consumer applications
  • Zymvol Biomodeling — Physics-AI hyperrealistic enzyme discovery. ZYMVOL helps R&D managers uncover hidden opportunities and screen areas overlooked by traditional methods.
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Omega ehf
VC Fund · 1 investments in Iceland Software startups

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

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Investment focus

  • Industry: Banking, FinTech, Software
  • Stage:Series D
  • Geography: United Kingdom

Investor stats

  • Total investments: 2
  • Lead/follow: no public data

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.
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KOMPAS VC
VC Fund · Copenhagen, Hovedstaden, Denmark · 1 investments in Iceland Software startups

KOMPAS is an early-stage venture capital firm with offices in Amsterdam, Berlin, Copenhagen and Tel Aviv. We fund breakthrough innovations that accelerate the digital transformation and decarbonisation of the building and manufacturing industries. KOMPAS invests €1.0 – 5.0 million in Seed and Series A rounds with continued support throughout thecompany’s entire lifecycle. We partner with exceptional founders who disrupt the way buildings are designed, built and managed. We strive to eliminate emissions from building and manufacturing activity, reduce energy consumption, promote sustainable building materials, eliminate waste and support a circular economy. We invest in digital technology and automation to make industrial processes from procurement to manufacturing more efficient. We operate with purpose whilst delivering strong financial returns to our investors.

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Investment focus

  • Industry: Software, Construction, Information Technology
  • Stage:Series A, Seed, Series B
  • Geography: Germany, Israel, United States

Investor stats

  • Total investments: 31
  • Lead/follow: no public data

Portfolio highlights

  • Tibo Energy — To make sure you operate within the limits of your contract we control your network. We avoid congestion in your energy network.
  • NeoLogic (VLSI) — NeoLogic was founded to address the increasing workloads of video, artificial intelligence, machine learning, data analytics, and more in the cloud and at the edge. we developer a unique technology that cuts down the transistor count of circuits by a factor of up to 3x at any technology node.
  • Makersite — AI, data and apps for procurement, product design and expert teams to make faster sustainable product and supply chain decisions, at scale.
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Shubert Organization
VC Fund · New York, New York, United States · 1 investments in Iceland Software startups

Shubert Organization owns, operates, and manages theatres in New York; and Philadelphia, Pennsylvania.The organization also produces plays and musicals in New York City and other parts of the United States; operates a ticketing agency for theatres in New York City; and provides a research repository of theatrical documents and other relateditems. In addition, the company offers a source for various ticketing needs, including box office, telephone, internet, season and subscription, group, and more sales to various segments of the entertainment industry.Shubert Organization was formerly known as Select Theatres Corporation and changed its name to Shubert Organization in 1973.The company was founded in 1900 and is based in New York, United States. It operates as a subsidiary of The Shubert Foundation, Inc.

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Investment focus

  • Industry: Big Data, Analytics, Enterprise Software
  • Geography: Iceland

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • Activity Stream — Activity Stream is a marketing platform made exclusively for the event industry.
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Export and Investment Fund
VC Fund · Hellerup, Hovedstaden, Denmark · 1 investments in Iceland Software startups

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.

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Investment focus

  • Industry: Software, Biotechnology, Information Technology
  • Stage:Seed, Series A
  • Geography: Denmark, United States, United Kingdom

Investor stats

  • Total investments: 82
  • Lead/follow: no public data

Portfolio highlights

  • Kvantify — Quantum computing will revolutionize many aspects of computing. We can help your business harness the full potential of Quantum Computing and High-Performance Computing today.
  • Propane — Propane is an AI-powered operating system for customer intelligence, built for modern product and GTM teams. It automates continuous customer and user research through embedded AI agents, integrated workflows, and real-time analysis—turning feedback into a scalable system, not a one-off task.
  • Akson Robotics — Akson Robotics is a developer of AI and robotics-based products that focus on greener and efficient agriculture through precision farming.
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Menlo Ventures
VC Fund · San Francisco, California, United States · 1 investments in Iceland Software startups

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.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Series B, Series A, Series C
  • Geography: United States, Canada, Sweden

Investor stats

  • Total investments: 721
  • Round size: Series A $6.3M–$60M; Series B $10M–$100M; Series C $12M–$120M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: Likely still investing — raised $100M in 2024

Portfolio highlights

  • Lumosity — Challenge your mind with Lumosity, the #1 app with 50+ brain games for memory, math, vocabulary, and more. Start training today!
  • Rover — Connect with 5-star sitters and dog walkers near you who offer dog boarding, dog walking, house sitting, or doggy day care. Book and pay securely.
  • Talari Networks — Create new digital experiences with 5G and IoT business models. Let us show you how with our suite of cloud applications and network infrastructure solutions.
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Omega Algae
VC Fund · Hveragerði, Arnessysla, Iceland · 1 investments in Iceland Software startups

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.

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Investment focus

  • Industry: Software, Virtual Reality, AI Infrastructure
  • Stage:Seed
  • Geography: Iceland

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.
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Capital A Partners
VC Fund · Charleston, South Carolina, United States · 1 investments in Iceland Software startups

venture capital and private equity for early stage businesses

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Investment focus

  • Industry: Software, 3D Printing, 3D Technology
  • Stage:Seed, Series A
  • Geography: United States, India, Sweden

Investor stats

  • Total investments: 10
  • Round size: Seed $270k–$7M; Series A $750k–$3.5M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Chargeup — Empowering drivers, NBFCs, and OEMs through AI-driven financing and asset management solutions for India's EV ecosystem.
  • OpenRatio — Enterprise Mobile Engagement Platform OpenRatio empowers enterprises to rapidly build context-aware and personalised apps to engage with their employees, clients and partners Our mission is engagement: We empower enterprises to rapidly build context-aware and personalised cross platform mobile apps to engage with their employees, clientsand partners.Why engagement? Because the payoff Is evident. Enterprises improve efficiency, productivity. satisfaction and interaction for employees and customers.By licensing OpenRatio mobile platform enterprises will be:------------------------------------------------------------------------------- 1- Cutting mobile development costs by over 80%2 - Move mobile publishing in-house and leveraging your exciting IT department know-how3 - Start building and deploying applications fast4 - Simplicity: Anyone within the organisation can start building and managing enterprise mobile applications5 - Open platform for partners to build modules and plugins 6 - Bring the consumer mobile experience to your enterprise
  • Svenska Aerogel — Svenska Aerogel develops aerogel materials designed to improve thermal insulation, fire protection and energy efficiency across industries
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Tencent
VC Fund · Shenzhen, Guangdong, China · 1 investments in Iceland Software startups

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.

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Investment focus

  • Industry: Software, Financial Services, Artificial Intelligence
  • Stage:Series B, Series A, Series C
  • Geography: China, United States, United Kingdom

Investor stats

  • Total investments: 660
  • Round size: Series A $4M–$230M; Series B $15M–$200M; Series C $30M–$400M
  • Lead/follow: 46% lead, 54% follow

Portfolio highlights

  • Fenda — Fenda is an app where users can set their own price for answering questions in a field they are good at, and others can ask questions and pay for answers. Additionally, users can pay to listen to other questions and answers in the app
  • 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.
  • Full Truck Alliance — Full Truck Alliance is a platform that connects shippers with truckers to facilitate shipments across distance ranges and cargo weights. its revenues principally from shippers' and truckers' use of its platforms in connection with freight matching services.
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Sigþór Sigmarsson
Angel · London, England, United Kingdom · 1 investments in Iceland Software startups

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

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Investment focus

  • Industry: Software, Health Care, Banking
  • Stage:Seed, Series D, Venture - Series Unknown
  • Geography: Iceland, United Kingdom

Investor stats

  • Total investments: 4
  • Round size: Seed $400k–$1.8M
  • Lead/follow: 25% lead, 75% follow

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.
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Ridge Ventures
VC Fund · San Francisco, California, United States · 1 investments in Iceland Software startups

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

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Investment focus

  • Industry: Software, Internet, Information Technology
  • Stage:Series A, Seed, Series B
  • Geography: United States, Canada, Finland

Investor stats

  • Total investments: 196
  • Round size: Seed $1.4M–$7M; Series A $4M–$20M; Series B $6M–$65M
  • Lead/follow: 21% lead, 79% follow
  • Last fund: Likely still investing — raised $180M in 2023

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
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Kjartan Olafsson
Angel · 1 investments in Iceland Software startups

Kjartan Olafsson is an entrepreneur and angel-investor-on-occasion with one foot in New York and the other in Iceland. Kjartan is the owner of Volta Labs Venture Development (Volta.is) and the founder of Basno.com, a platform for digital goods. He sits on the board of directors at a handful of companies and organizations in Iceland and theU.S., including Basno and Datamarket.com. Previously Kjartan served as the Director of Business Development for the international media company Bertelsmann Inc. in New York. Kjartan studied philosophy and logic in Iceland and Italy, and holds a master’s degree in business administration from the Harvard Business School.

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Investment focus

  • Industry: Software, B2B, Apps
  • Stage:Angel, Series A
  • Geography: Denmark, Iceland

Investor stats

  • Total investments: 2
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Taktikal — Simple and secure digital signatures Offer high-end signatures to save both your business and your customers valuable time and cost.
  • Watchbox — Watchbox combines technology and the elements of team-building to unite local and distributed teams. Employees capture all the great things at work or outside of work, with photos and videos. These moments vary from random highlights at work, events, celebrations, and conferences to something interesting in employees’ personal lives outside ofwork. Posts can be viewed in the app, but are also displayed 24/7 in dedicated Watchbox display units, placed in common areas across the office. Watchbox provides fun Concepts designed to motivate diverse content creation that reinforces positive culture.
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Anthony Deighton
Angel · Boston, Massachusetts, United States · 1 investments in Iceland Software startups

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.

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Investment focus

  • Industry: SaaS, Software, Productivity Tools
  • Stage:Angel
  • Geography: Iceland

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • GRID — GRID is the spreadsheet engine for agentic products. Install from npm with a free evaluation license, build with your agent, and license commercially when you ship.
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Mesa Ventures
VC Fund · New York, New York, United States · 1 investments in Iceland Software startups

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.

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Investment focus

  • Industry: Mobile, Software, E-Commerce
  • Stage:Seed, Series A
  • Geography: United States, Germany, Iceland

Investor stats

  • Total investments: 57
  • Round size: Seed $1M–$3.5M; Series A $1M–$5.8M
  • Lead/follow: 2% lead, 98% follow
  • Last fund: May invest from a new fund soon — raised $10M in 2012

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.
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Ari Helgason
Angel · London, England, United Kingdom · 1 investments in Iceland Software startups

Ari Helgason - co-founder @ Transition

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Investment focus

  • Industry: Software, SaaS, Analytics
  • Stage:Seed, Series A, Angel
  • Geography: United Kingdom, France, Denmark

Investor stats

  • Total investments: 12
  • Round size: Seed $2.5M–$8.3M; Series A $10M–$17M
  • Lead/follow: 50% lead, 50% follow

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 — GRID is the spreadsheet engine for agentic products. Install from npm with a free evaluation license, build with your agent, and license commercially when you ship.
  • 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!
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New Enterprise Associates
VC Fund · Menlo Park, California, United States · 1 investments in Iceland Software startups

Foundational partners to ambitious founders at every stage of company-building.

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Investment focus

  • Industry: Software, Health Care, Biotechnology
  • Stage:Series A, Series B, Series C
  • Geography: United States, India, United Kingdom

Investor stats

  • Total investments: 1679
  • Round size: Series A $5.8M–$60M; Series B $10M–$85M; Series C $15M–$110M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely still investing — raised $2.8B in 2022

Portfolio highlights

  • NeuroPace — The NeuroPace RNS System is the only FDA-approved epilepsy device that delivers personalized treatment by responding to abnormal brain activity and provides EEG data that can help improve patient care.
  • Packeteer — Packeteer is a global leader in WAN Application Delivery and WAN Optimization. The company offers an integrated family of appliances and software products. Packeteer is a provider of network software products that enhance mission-critical application performance over enterprise WANs and the Internet. These application-adaptive bandwidth managementsolutions give businesses and service providers per-application control of bandwidth at congested WAN access links.
  • Alteon Websystems — Alteon Websystems is a computer network hardware company that provides internet infrastructure solutions enabling e-businesses to meet their increasing demands.  The company’s portfolio of web data center products includes switches, server adapters, and software that are optimized to meet the specific challenges of managing web application trafficand provide high performance network infrastructure solutions.Alteo Websystems was founded in 1996 and is headquartered in San Jose, California.
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Software Investor funding in Iceland at a glance

Stats across 104 deals from 78 investors.

78
investors
in Iceland Software startups
104
deals
in Iceland Software startups
$765k
median round
in Iceland Software startups
46%
lead investors
lead at least one round
31%
Grant
most common funding stage
85/15
VC / Angel
share of investor count

Access all 78 investors in Iceland Software startups.

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