Author: Kris Hróbjartsson (Page 1 of 12)

Teatime Games raise $7.5m Series A led by Index Ventures with participation from Atomico

Mobile gaming company Teatime Games just announced a $7.5m Series A round led by Index Ventures. VC fund Atomico also participated in the round. The investment brings total investment in the company to roughly $9m dollars, including a $1.6m seed round in late 2017.

“Games have always been an inherently social and multi-layer experience,” says Thor Fridriksson, CEO, and co-founder of Teatime Games.

“The overwhelming majority of mobile games, however, are single player experiences, while most multiplayer mobile games are turn-based and are played against invisible opponents. We are building Teatime Games on the premise that mobile games players crave a more social and personalized experience than they are currently getting, where communicating with friends and fellow players in real time not only enhances a game but is as important as the game itself. That’s why we’re developing the first real time communication gaming platform for mobile.”

The company will use the investment to double the team in Iceland, with a specific focus on software engineers.

Index Ventures investor Guzman Dias commented: “Like all the best games studios, Thor and the Teatime team have extraordinary pedigree in mobile games, accumulating years of experience of scaling up a gaming platform with over 100 million users. At Index we have been lucky enough to team up with games pioneers such as Supercell and King, and we believe Teatime have a similar size opportunity today – to lead the next wave in mobile games, by building the technology to spark a real time revolution in social games with the social element at its heart.”

The company was co-founded by ex-QuizUp CEO Thor Fridriksson, CFO Ymir Finnbogason, CTO Johann Bergthorsson and COO Gunnar Holmsteinn.

Teatime is currently hiring. Check them out on the Northstack Job Board.

Arctic Green Energy complete $150m equity and debt financing

Icelandic-Chinese Arctic Green Energy, developer of geothermal district heating projects in China, has completed a $150 million equity and debt funding with Chinese investors. Included in this funding round is a loan from the Chinese Development Bank. The investors were CITIC Capital and China Everbright Limited in addition to the bank.

“We have been working with Arctic Green Energy for three years now, and this milestone in the company‘s development confirms all of the accomplishments it has achieved so far in implementing geothermal technology in China and abroad.“ says Mr. Fanglu Wang, Senior Managing Partner for CITIC Capital.

Cities consume 70% of energy globally, and Arctic Green Energy’s plan is to create zero emission cities through renewable resources, technology and infrastructure. Most of their current projects are based on geothermal energy.

“The completion of this USD 150 million financing round is a significant step for Arctic Green Energy,” says Haukur Harðarson, Founder and Chairman of Arctic Green Energy in a statement.

“We welcome China Everbright to broaden the investor group to strengthen its ties with China, and build on this success in other markets. CITIC Capital and China Everbright are two global investment firms with strong roots in Asia that have special focus on clean energy and will now take part in our mission to create zero emission cities with clean, profitable renewables.“

Kúla 3D closes $300k seed round and releases lens for smartphones

Kúla 3D, maker of 3D lenses for cameras, just announced it closed a $300,000 seed round. This is the first fundraise for the company, which has previously received financing from the Technology Development Fund.

“My daughter was two years old when I started experimenting with a prototype of 3D lenses,” says Íris Ólafsdóttir, founder and CEO of Kúla. “When I look at the pictures it’s like stepping into a time machine. I still get this wow feeling, but people really need to experience it to understand.”

Kúla is releasing Kúla Bebe, a 3D lens for smartphones. The device enables people to take 3D photos and videos on their smartphones, and comes with simple software to view their creations. Kúla had previously released Kúla Deeper, a lens for DSLR cameras. Kúla Bebe was financed through a Kickstarter campaign.

Kúla Bebe is produced in Iceland, and packaged at Kúla’s Headquarters at Innovation House in Eiðistorg. People will be able to buy it at Vodafone stores in Iceland, with global availability to follow shortly.

Meniga raises $3.7m from Swedbank

Nordic bank Swedbank today announced it had invested $3.7m (€3m) in Meniga in a strategic financing round which includes other key customers of the company.

“We see Meniga as an innovation partner to give our customers a digital experience that includes a better overview and insights of all their finances both from Swedbank and external parties. We are very pleased with the agreed partnership,” says Lotta Lovén, Head of Digital Banking at Swedbank in a statement.

Georg Ludviksson, Co-founder and CEO of Meniga commented: “We are delighted to welcome Swedbank as a strategic investor and look forward to playing our part in their digital transformation.”

TripAdvisor acquires Bókun

Bókun Partners were today notified of the acquisition of Bókun by TripAdvisor.  The company sent out an email detailing the acquisition.

“As the industry leader, our opportunity in this space is enormous. We’re committed to taking the experiences sector far beyond its current online penetration of just 20%, and Bokun will play a critical role in this mission,” commented Dermot Halpin, president, TripAdvisor Experiences and Rentals said in a statement.

“We’re thrilled to join the world’s largest attractions, tours and experiences business,” commented Hjalti Baldursson, CEO and co-founder, Bokun. “TripAdvisor gives us the opportunity to serve customers in every corner of the world, and we’re excited about the significant growth that’s to come.”

The following is an excerpt from the email sent to Bókun Partners.

Dear Bokun Partner!

I’m extremely happy to announce to you, our Bokun Partner, that as of today, Bokun has been acquired by TripAdvisor.

We all know TripAdvisor and its global reach and strengths. It’s the world’s largest travel site!

By the acquisition of Bokun, TripAdvisor is expanding its offering for the global tours and activities and attractions sector by providing suppliers with technology in addition to being the industry’s largest distribution channel.

To me, the devotion of TripAdvisor to the industry is obvious, and I’m proud that Bokun will be participating in shaping the industry, along with our partners.

Our joint plan is for Bokun to be a one stop shop for suppliers and resellers of in-destination services (tours & activities and attractions). Our aim is to be the best and the largest software supplier for the industry on a global scale.

In order to achieve our goals, we’ll put more resources into development both for suppliers and resellers, along with integrating with the support and sales team of TripAdvisor for added service and support.

The Bokun headquarters will remain in Iceland and the current management will continue to lead the company, although we’ll work closely with the global team of TripAdvisor.

Bókun was one of the first travel tech startups to embrace the tourism boom in Iceland. Details of the acquisition are still under wraps, but we’ll update with more info.

No VC funds were investors in Bókun.

Kara Connect raises €1.5m led by Crowberry Capital

Kara Connect, the communication and business platform for health and educational professionals, just announced a €1.5m (180m ISK) funding round led by Crowberry Capital, with participation from individuals.

,,Kara plans to revolutionize access to health services and therapy,” says Jenný Ruth Hrafnsdóttir, GP at Crowberry Capital who takes a seat on the board of directors of Kara. “The company has already shown amazing traction and great results with speech therapists who are using the Kara platform. We believe that Kara Connect is on trend and the founding team is passionate about building a global business.”

Kara Connect is a business and communications platform that allows professionals to easily connect with clients, improving access to professional healthcare and extracurricular educational services.

The funding will allow Kara Connect to expand into Scandinavian markets. The company, which is founded in Iceland, has already seen more than 1000 Icelandic clients complete more than 9000 hours of teletherapy sessions with dozens of specialists that use Kara Connect.

“Rapid advancements in technology and increasing work-loads pose great
challenges for specialists providing their clients with therapy and support,” says CEO and founder Thorbjorg Helga Vigfusdottir. “Kara offers them a secure virtual office as well as a state of the art teleservice platform,“

Thorbjorg adds: “Our goal today is to break into sales and marketing in Scandinavia, as well as developing the Kara software even further.“

Kara Connect has previously received grants from the Technology Development Fund.

The featured image is of Crowberry Capital and Kara Connect signing the funding documents.

AirServer creator App Dynamic signs deal with Intel

Intel has started a collaboration with Icelandic tech company App Dynamic, the creators of screen mirroring software AirServer. The app, which allows people with any device to mirror and share their screen on a display, will be prominently featured on Intel’s new meeting room tech: Intel Unite.

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The ten companies that pitched at Startup Tourism 2018

Startup Tourism had its demo day yesterday, Friday March 23nd. As usual, the companies that went through the accelerator pitched to a room of investors, tourism industry executives and others. In addition to the pitches, founder of Couchsurfing Casey Fenton, gave a keynote.

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Introducing: Northstack Job Board

Today we’re very excited to announce our newest venture: The Northstack Job Board.

The Northstack Job Board will be the one stop shop for jobs in startups and tech in Iceland, making entry into the sector hopefully more open and inclusive to Icelanders and foreigners.

The tech sector is international, both in terms of business and human capital. The tech sectors clients are international. The investors are international. And the people building the companies are increasingly international.

Finding jobs in the sector should be as well.

One of our main goals at Northstack has always been to make the tech and startup scenes more accessible, more transparent, and more open to the people outside of it.

We’ve done this by writing about and analysing the ecosystem, hosting open meetups for people to mingle, but the biggest move was probably when we switched completely to English.

With this launch, we’re making another contribution to building a better, more diverse, tech ecosystem.

We’re honored by the companies that joined as first advertisers, which range from established companies to fledgling startups. We hope that Northstack Job Board becomes the place where people outside tech find their entry into tech, or where people outside Iceland find their entry into Iceland, or people simply find a good job (and companies great people).

Check out Northstack Job Board now (we recommend signing up for the job alerts!)

P.s. to celebrate we’re hosting a party with TeqHire (Facebook link)

Berlin based Klang Games raise $5m investment

Klang Games, the Berlin based, Icelander founded gaming company, just announced a $5m investment from gaming VC Makers Fund, as well as Firstminute Capital, Neoteny, Mosaic Ventures, and Novator. Gamesindustry Biz reported. The company was previously backed by notable Icelandic tech veterans David Helgason (Founder of Unity) and Adalsteinn Ottarsson (previously CCP, now Sr. Development Director at Riot Games).

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Nortstack – Reporting and analysis of the Icelandic startup scene