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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

New, bigger grants introduced at the Technology Development Fund

Earlier this month, the Icelandic Centre for Research (Rannís) unveiled its strategy for the Technology Development Fund going forward. According to a statement, the purpose of the changes is to make the fund more open and effective for applications from a wider range of individuals and organizations. The first new

Iceland Q4 2015 Funding Analysis

We start the year 2016 off with a roundup and analysis of the Q4 funding numbers for Iceland. Norðurskautið has been documenting and publicizing investments since it started, and these analysis will be recurring content on the site. To kick things off, we’d like to establish our methodology, as

Various tax-reform measures for the startup community likely passed in 2016

Last Friday at the Federation of Icelandic Industry’s Technology Summit, Bjarni Benediktsson, Iceland’s Minister of Finance, spoke of changes to the tax system to help the startup community. Bjarni announced plans to change the taxation of both stock-options and convertible bonds, making both a more viable instrument than

NSA Ventures: A profile of Iceland's biggest VC fund

NSA Ventures is a permanent, semi-official early stage venture fund in Iceland. It was founded in 1997 by a one-time endowment from the Icelandic government of 3 billion ISK ($~25MM) but operates without additional official funds. Its current size is around 5.5 billion ISK ($~44MM). This makes it Iceland’

Mesher is a new way to shop for clothes online

Mesher is a smartphone app that helps you buy clothes that fit. It uses the camera on the device to scan your body and estimate your measurements, and in turn recommend clothes for you based on fit and style preference using a Netflix-style recommendation algorithm. The Mesher team participated in

Milljarðar króna í nýsköpun: Hvernig virka nýju sjóðirnir?

Í vor tilkynntu þrír rekstraraðilar um að hafa lokið fjármögnun á jafn mörgum sjóðum sem ætlaðir eru til fjárfestinga í nýsköpunar- og sprotafyrirtækjum. Samanlögð fjárhæð sem mun fara í fjárfestingar er 11,5 milljarðar króna og munu sjóðirnir fjárfesta í fyrirtækjum á mismunandi vaxtarstigum. Til að setja íslensku sjóðina í