Top 5 Travel Startup Investors in Iceland (September 2026)

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

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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venture capital and private equity for early stage businesses

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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For nearly four decades, State Street Global Advisors has been committed to helping their clients, and those who rely on them, achieve financial security. They partner with many of the world’s largest, most sophisticated investors and financial intermediaries to help them reach their goals through a rigorous, research-driven investment processspanning both indexing and active disciplines. With trillions1 in assets, their scale and global reach offer clients unrivaled access to markets, geographies and asset classes, and allow us to deliver thoughtful insights and innovative solutions.State Street Global Advisors is the investment management arm of State Street Corporation.

Investment focus

Industry: Financial Services, FinTech, Finance
Stage:Venture - Series Unknown, Series A, Series D
Geography: United States, India, United Kingdom

Investor stats

Total investments: 23
Round size: Series A $200k–$20M; Series D $35M–$64M; Venture - Series Unknown $5M–$20M
Lead/follow: 43% lead, 57% follow

Portfolio highlights

Micruity — Learn more about Micruity and our mission to close the retirement savings gap
Coller Capital Limited — Discover Coller Capital's pioneering role in secondaries markets, delivering strong, consistent performance for over 30 years. Explore our solutions today.
Groww Asset Management — Groww Mutual Funds offers investors the opportunity to invest in diversified Equity, Debt, Hybrid, and ETF mutual funds. Invest in Growwmf now to build a strong and yielding investment portfolio.

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Dedicated to supporting and investing in innovative startups

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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