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 of the accelerator) in Startup Reykjavik companies has in the mean time been ~$1.5m (176m ISK).
Einar Gunnar notes in his post that the current valuation is based on either the newest funding round which puts a price on Startup Reykjavik Invest’s equity, or “valued on likelihood of success based on their activity and communication with [Startup Reykjavik Invest].”
According to his calculations, 54% of companies are still active, 13% inactive, and 33% sold (companies where Startup Reykjavik has sold its share back to the founders, who have quit (or mostly quit) operations).
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.
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.
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).
NSA Ventures and Frumtak have sold their 37% share in food processing tech company Valka. New shares were also issued in the transaction, to current shareholders. The shares were sold to a group of current investors – Fossar, Vogabakki, Vortindur (the holding company of founder Helgi Hjálmarsson), and other investors.