Northstack Editorial

Northstack Editorial

Lauf Forks raise $2.5m led by New Business Venture Fund

Lauf Forks raise $2.5m led by New Business Venture Fund

Icelandic bicycle manufacturer Lauf Forks has just announced a $2.5m (300m ISK) funding round led by New Business Venture Fund (Nýsköpunarsjóður). The funding will be used to grow in the United States. “The bicycles from Lauf Forks have been well received in the United States, so focusing on growth

GRID raises an additional $3.5m seed round led by BlueYard capital

GRID raises an additional $3.5m seed round led by BlueYard capital

GRID, the SaaS company with the goal of “freeing the spreadsheet,” just announced a $3.5m seed funding round, only five months after their initial $1m angel round. The funding round is led by Berlin-based BlueYard, with participation from Slack Fund, Acquia Capital and angel investor Charles Songhurst. Previous investors,

Avo becomes first Icelandic company to be selected for Y Combinator

Avo, the SaaS company preventing human error when implementing analytics, is the first Icelandic company to be accepted into Y Combinator, widely regarded as the world’s best accelerator. As part of the program, Y Combinator invests $150,000 in the company. Avo (then as Viska Learning), previously raised a

Nordic Web Ventures announces Fund II

Nordic Web Ventures announces Fund II

The Nordic Web, just announced that it has raised its second investment fund. The company, founded and led by Neil S W Murray, has been investing out of its first fund, and has already (if you count a not-yet-announced investment out of the second fund) invested in all Nordic countries

Drone startup Flygildi raises angel funding

Drone startup Flygildi raises angel funding

Drone startup Flygildi, which is creating a drone that is disguised as a bird, flies flapping wings, and is undetectable by radar, has raised an angel round. The amount is undisclosed. Flygildi was founded by the two engineers Hjalti Harðarson and Dr. Leifur Þór Leifsson. In a press release, Helga

Startup Reykjavik Values its Portfolio since 2012 at $2.3m (278m ISK)

Startup Reykjavik Values its Portfolio since 2012 at $2.3m (278m ISK)

In a new post by Einar Gunnar Guðmundsson of Arion Banki, he reveals that Arion Banki’s daughter company Startup Reykjavik Invest currently values its portfolio of companies that have participated in Startup Reykjavik at $2.3m (278m ISK). The bank’s total direct investment (not counting the operational fees

Iceland Venture Studio announces new fund

Last week, Dattaca Labs announced Iceland Venture Studio, a new “growth solution for entrepreneurs and startup founders.” The Studio has raised a $1m fund, working towards a total size of $5m, to invest in early stage companies. “We’re very committed to our investment thesis,” CEO and co-founder Bala Kamallakharan