Tag: fundraise (Page 2 of 3)

Influencer marketing platform Takumi raises $4m Series A round

Takumi, the influencer marketing platform, just announced the successful raise of a $4m (£3.2m) Series A financing round. The investment will be used to fuel its US and global expansion. The investors are a mix of family offices and high-net worth individuals.

“Influencer marketing is still in its early stages but will grow into a major marketing channel over the next five years,” said Mats Stigzelius, co-founder and CEO. “By offering the best platform possible for influencers and brands, it has allowed us to scale quickly and this will also drive our future growth. However, with this new funding, our undoubted aim is to make Takumi the leading global influencer platform, both for brands and influencers.”

The company, which recently launched in Ireland and Germany, now takes aim at the US market, and has recently opened an office there. Apart from sales and business development offices in London, Berlin and New York, Takumi operates a product development office in Reykjavik, Iceland, where all development takes place. Two of the company’s three founders – Jökull Sólberg Auðunsson and Gummi Eggertsson – are Icelandic.

In addition to the newly raised $4m, the company previously raised two seed rounds, totalling $3.1m (£2.5m), one of which was announced last fall.

TripCreator raises $2m, shuts down B2C product

TripCreator, maker of the AI-driven travel planning solution, just announced a $2m funding round. Investors are undisclosed. Previous investors include Míó, the investment company of Magnús Ingi Óskarsson, founder of Calidris, and Salting ehf.

The company also announced that it will shut down its B2C product to focus solely on developing and selling its B2B whitelabel software.

Head of marketing Bragi Antoniusson says:

“It’s simply a better business model to leverage the technology we’ve already built and get a steady income from our customers.We decided to shut down the consumer site so that we’re not seen as competitors to our current and potential customers and to focus our marketing and development efforts on what is now our main product.

“We decided to shut down the consumer site so that we’re not seen as competitors to our current and potential customers and to focus our marketing and development efforts on what is now our main product.”

According to the statement, Icelandair will be the first carrier to integrate the platform, and other travel companies are expected to start using it soon.

This makes the second funding announcement in a couple of weeks, which could signal an active Q2 in the Icelandic scene.

Meniga raises €7.5m led by Industrifonden

Fintech company Meniga just announced a €7.5m funding round led by Nordic investment fund Industrifonden. Previous investors – Velocity Capital, Frumtak Ventures and Kjölfesta – also participated in the round.

From TechCrunch:

“Today’s banks are under pressure to innovate and improve their customer experiences online and yet they are beholden to legacy processes and legacy systems and are usually ill equipped to provide their customers with world class user experience in digital banking,” Meniga co-founder and CEO Georg Ludviksson tells me.

“Meniga has built a reputation as a strong innovation partner to banks and its software solutions help some of the world’s largest banks utilise their data to make their online and mobile banking more personalised and inspiring”.

Ludviksson’s coining of Meniga as an “innovation partner” to banks isn’t simply startup speak, nor is it bluster (the Meniga founder talks in soft, considered Icelandic tones). The company holds five-day onsite design sprints with its banking clients, and last year it conducted more than 80 user testing sessions in four countries — again, many of them in partnership with the banks.

SidekickHealth maker Goodlifeme raises $1.5m round led by Frumtak Ventures

Frumtak Ventures just announced a $1.5m investment into Goodlifeme AB, maker of Sidekick Health. Other participants in the round include Tennin ehf. and other investors.

This investment gives our team of physicians, psychologists, public health professionals and game developers the opportunity to deepen SidekickHealth’s global reach, particularly in the United States,” said Tryggvi Thorgeirsson, co-founder and CEO of Goodlifeme said in a statement.


Sidekick Health is a lifestyle companion app, utilizing insights from behavioral economics, artificial intelligence, and evidence based guidelines from the US CDC, to enhance the effectiveness of lifestyle education and coaching.

According to the statement, the app has shown great benefit to its users:

To date, companies and health organizations that have augmented in-person Diabetes Prevention Programs (DPPs) and employee fitness initiatives with SidekickHealth have seen an 82% retention rate among participants over a 4-month period, 76% increase in participant weight loss, and a 65% reduction in soda consumption.

Eggert Claessen, managing partner of Frumtak Ventures: “SidekickHealth’s solution … presents a significant opportunity to positively impact the wellbeing of employees and patients, while also reducing health-related overhead costs for enterprise companies and organizations globally.”

Picture is of Sidekick Health co-founders Tryggvi Þorgeirsson and Sæmundur Oddsson.

Icelandic/Dutch fintech startup Five Degrees raises €10 million

Five Degrees, the Icelandic / Dutch Fintech startup, recently announced a €10m funding round from new investors Karmijn Kapitaal. Previous investors 5square and Velocity Capital (also an investor in Meniga) also participated.

“For us, Karmijn Kapitaal is more than just a new shareholder. Their investment is a sign of trust in our belief that delivering top technology is about people and creating an environment that is about unconventional thinking brought to perfection,” Martijn Hohman, CEO of Five Degrees said in a statement.

The company’s connection to Iceland (and the reason we’re writing about it) is deep. The CTO, and only listed co-founder in the management team, is Björn Hólmþórsson, and the company has offices in Iceland.

According to a statement, this new capital will allow Five Degrees to focus on product development and international expansion. The company develops the banking platform Matrix, which they say “offers an agile customer centric architecture that supports banking operations in a future proof manner, ready for the bank 3.0 paradigm where real, virtual and social meet.”


Oculis Pharma raises Series A led by Brunnur Ventures and Silfurberg

The pharmaceutical startup Oculis Pharma announced a Series A financing led by investors Brunnur Ventures and Silfurberg. The amount is undisclosed.

“We are delighted to receive this support from Brunnur Ventures, Silfurberg and their co-investors to progress our development of DexNP,” Páll Ragnar Jóhannesson, CEO of Oculis, said in a statement. “In addition to providing financial resources, these experienced investors bring Oculis a wealth of operational and industry expertise.”

According to a statement, the new capital will support continued development of the company’s patented solubilizing nanoparticle (SNP) drug delivery platform and the company’s drug candidates, including the first topical eye-drops for treatment of diabetic macular edema. In layman’s terms, the company is both developing a patented technology that increases the effectiveness of eyedrops and solves some of their limitations, and drugs that use this technology. Their diabetic macular edema drug has been approved for treatment in both Europe and the United States.

“Our investment to support the development of Oculis is based on Oculis’ strong scientific research, combined with a great market potential for the company’s drug candidates,” said Árni Blöndal in a statement, GP at Brunnur Ventures, who joins the board following the investment. “The option of drug treatment of DME with self-administered eye-drops, rather than having the only option of surgically injecting drugs into the eye, would by a major advantage in the global battle with this common and severe diabetes complication.”

Stefán Jökull Sveinsson, former head of global R&D at Actavis, one if Iceland’s leading pharmaceuticals, also joins the board in connection with the financing.

Greenqloud raises $4m from investor Kelly Ireland

kelly ireland

Kelly Ireland

Greenqloud, the maker of cloud management software Qstack, just announced a $4m investment from investor Kelly Ireland. Kelly will join the board of directors of the company. This was announced by Viðskiptablaðið today, and Kelly on Twitter a week ago.

In a conversation with Viðskiptablaðið, Jónsi Stefánsson CEO of Greenqloud said this was a very important partnership. “We are moving into the American market, and partnering with a seasoned expert in the technology industry is very good for us,” Jónsi said (translated from Icelandic).

The company (for the lack of a better word) pivoted in 2015, when they moved from providing environmentally friendly cloud hosting solutions, to selling cloud management software.

Previous investors in the company include NSA Ventures, Keel investments and Novator.

Pharmaceutical company 3Z raises $400K seed round

3Z pharmaceuticals has closed a $400K seed round. The investors were Swiss biotech companies Baliopharm and Probiocon, as well as previous investors NSA Ventures and Sigþór Sigmarsson.

“3Z offers a unique technology to speed up the development of innovative drugs for the treatment of all kind of neurological disorders,” says Andreas Hermann of Baliopharm and Probiocon, who will join the company’s board of directors.

3Z pharmaceuticals is a contract research company focusing on the discovery of Central Nervous System (CNS) drugs. It provides pharmaceutical companies with expert services in high throughput screening of small molecule libraries for CNS effects diseases like epilepsy, Parkinson‘s disease, Insomnia and ALS.

Dr. Andreas Hermann and Dr. Karl Ægir Karlsson

Dr. Andreas Hermann and Dr. Karl Ægir Karlsson

The company was founded in 2008 by Karl Ægir Karlsson and Haraldur Þorsteinsson with support of Reykjavik University Resarch Lab. With the investment, the company aims at focusing on sales, as well as preparing for an A round.

“For 3Z this is a giant step towards bringing to market what we believe is an excellent solution for a large number of companies,” Karl says. “After years of R&D, proof-of-principle studies we are ready for take-off.”

Norðurskautið covers the Icelandic Startup and Tech scene. Follow us on Twitter or sign up for our mailing list to keep up to date. You can also join our Slack community – http://bit.ly/slack-is


Industrial equipment maker DTE raises $1.1 from Brunnur

Industrial process and quality control equipment maker Dynamic Technology Equipment has raised ~$1.1 million (135m ISK) from venture capital fund Brunnur. This is announced on the website of Einar Gunnar Guðmundsson, who is Chairman of the Board at SER Holding, the Startup Energy Reykjavik investment company.

The company develops specialized industrial equipment aimed at the aluminum smelting industry. The products optimize production processes and help aluminum smelters reduce costs.

DTE has previously received a ~$200K (25m ISK) grant  from the TDF and participated in Startup Energy Reykjavik in 2014.

This marks the first announced investment we’ve recorded in Q2 2016, and the first investment by Brunnur in 2016.

Norðurskautið covers the Icelandic Startup and Tech scene. Follow us on Twitter or sign up for our mailing list to keep up to date. You can also join our Slack community – http://bit.ly/slack-is

Kaptio raises $2.6 million from Capital A and Frumtak 2

Kaptio, maker of Kaptio Travel, has raised a $2.6 million round from Frumtak 2 and Capital A Partners. Previous investors NSA and Kaskur also participated in the round.

Kaptio creates Kaptio Travel, a plug in for SalesForce, designed to help travel professionals manage their work in the cloud. Kaptio is one of two companies to have shown good promise building addons and plugins for established cloud platforms. The other is Tempo, maker of Tempo for Jira.

The financing is intended to strengthen the product development and sales efforts in the UK, as well as preparing the company for further international growth, according to a blog post on Einar Gunnar Guðmundsson’s website.

Kaptio had previously raised a little under $1 million (120 million ISK) from NSA and Kaskur in January 2015, and took part in Startup Reykjavik in 2012.

Norðurskautið covers the Icelandic Startup and Tech scene. Follow us on Twitter or sign up for our mailing list to keep up to date. You can also join our Slack community – http://bit.ly/slack-is

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Nortstack – Reporting and analysis of the Icelandic startup scene