Northstack Editorial

Northstack Editorial

Brunnur Ventures closes its second fund at $65 million

Brunnur Ventures closes its second fund at $65 million

Brunnur Ventures GP is launching its sequel venture fund (“Brunnur II”) of USD 65 million (ISK 8.3 billion) in co-operation with Landsbréf, according to Brunnur’s press release. The fund’s LPs include ten Icelandic pension funds and Landsbanki. This is the second venture fund of Brunnur Ventures.

iceland light city dawn

Twitter sets up a corporate entity in Iceland

Twitter has set up a corporate entity in Iceland, but Twitter Netherlands B.V. registered a branch in the Icelandic company directory in late January. The move follows Twitter’s purchase of the Icelander founded design agency Ueno. Haraldur Thorleifsson, founder of Ueno and now, a Twitter employee, said on

German investor and Bitcoin miner wants to buy a geothermal power plant in Iceland

German investor and Bitcoin miner wants to buy a geothermal power plant in Iceland

Marco Andreas Streng, founder and CEO of Genesis Mining, expressed his interest in buying a geothermal power plant in Iceland in an interview with Viðskiptablaðið earlier this week. Streng, who is 32 years old and from Germany, founded Genesis Mining in 2013. A year later, the company started operating in

Price of CCP not to include $200 million earn out due to delay in Chinese gaming permits

Price of CCP not to include $200 million earn out due to delay in Chinese gaming permits

The Icelandic video game developer CCP was sold to the South-Korean company Pearl Abyss at $225 million, which is $200 million lower than the maximum agreed price in the purchase contract. This was first reported by Viðskiptablaðið. Pearl Abyss bought CCP in 2018 for $225 million, but agreed to pay

Grid team

GRID to launch in late March

GRID, the SaaS startup that wants to revolutionize how people work with data and numbers, announced on Thursday that it would launch its product in a few weeks time, but GRID has been running a Beta program since November 2019. “In late March, our Beta-baby will be officially grown up

Startup Orkídea kicks off with five teams involved

Startup Orkídea kicks off with five teams involved

Five teams are currently participating in the Startup Orkídea business accelerator, a joint program by Icelandic Startups and Orkídea. Startup Orkídea is a new platform for the development of business ideas and innovation projects related to sustainable solutions in the field of high-tech food production and biotechnology. Each of the

Teatime Games to close

Teatime Games to close

Teatime Games, the Icelandic startup that is best known for a hit mobile game called Trivia Royale, has ceased operations. According to Thor Friðriksson, one of Teatime’s founders, the revenue stream from the company’s products hasn’t proved sufficient and talks regarding further funding have broken down. Teatime