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Tax-breaks proposed to help startups

The Ministry of Finance has introduced a bill to change various tax regulations in regards to startups in Iceland. We’ve previously written about these changes, and it’s good news that the Ministry has followed promises with actions. Too bad about the timing though. The highlights of the bill

Iceland Q1 2016 Funding & Exits Report

The first quarter of 2016 starts off with a $13.4 million disclosed in fundings in seven funding rounds. Comparison to Q1 2015 The number of investments more than doubled from the same quarter last year (from three to seven) . Total amount invested, however, fell drastically, only due to one

Klappir invests undisclosed amount in Datadrive

Datadrive, maker of a system that tracks and analyses driving patterns, has closed a funding round from Klappir. The amount is undisclosed. Datadrive was in the 2015 batch of Startup Reykjavik and pitched to investors at the demoday last August. Klappir is an investment company focused on green technologies. It

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

Brunnur – one year later: $3.2 million in two investments

Last week we dug into Frumtak 2’s investment and funds and this time around we’re looking at Brunnur. Brunnur is a 4 bn ISK (~$31 million) fund, focused mainly on various technology sectors as well as food production. We covered the fund in more detail last year. Investments

Eyrir Sprotar has closed its fund on $27 million (3.5bn ISK)

Last November, Eyrir Sprotar closed its fund with a final size of $27 million (3.5 bn ISK), Norðurskautið has learned. The fund had previously announced in February 2015 raising around $19 million (2.5 bn ISK) but foresaw increasing the size of the fund. The fund has a four

Frumtak 2 – one year later: $10.85 million in six investments

Roughly one year ago, GP’s at Frumtak announced the closing of their second fund, Frumtak 2. The fund is a 5 billion ISK ($38.5 million) fund focused on investing in companies that are past their seed stage and show promise of growth and expansion. For more info about