Innovation, Startups and Venture Capital in Iceland

Mink Campers launch funding campaign on Funderbeam with €500k goal

Icelandic travel company Mink Campers recently launched a fundraising campaign on Funderbeam to raise a minimum of €500k. The company which designs and produces novel, light and frameless campers, as an environmentally friendly alternative to traditional camping vehicles, previously announced a $450k seed round in 2017.

“We see peoples’ growing ecological consciousness overall and especially while travelling, and their wish to be able to reach and stay in remote destinations without having a negative impact on the environment,” described Anna Ingimundardóttir, the representative of the lead investor Eldhrímnir.

“This trend is likely to continue and even strengthen in the wake of the Covid-19 crisis. International travel has been severely limited, and social distancing might be the new norm for a while. Travelling locally through a private mode of transportation will probably be more popular than ever,” Anna adds.

The funding will be used to relocate the production of the campers to Latvia, where a new assembly line production facility will be set up.

The company plans to produce in the range of 400-500 units next year with a long term goal of supplying 1.500 units per year, which the company says would translate to roughly €20m in annual revenue.

The funding currently stands at roughly €290k, with the minimum set at €500k and with aims to raise up to €1.25m. You can find Mink Camper’s fundraising page here.

Sign up for The Northstack Memo, our newsletter covering the Icelandic startup, innovation and venture capital scene.

%d bloggers like this: