SidekickHealth maker Goodlifeme raises $1.5m round led by Frumtak Ventures

Frumtak Ventures just announced a $1.5m investment into Goodlifeme AB, maker of Sidekick Health. Other participants in the round include Tennin ehf. and other investors.

This investment gives our team of physicians, psychologists, public health professionals and game developers the opportunity to deepen SidekickHealth’s global reach, particularly in the United States,” said Tryggvi Thorgeirsson, co-founder and CEO of Goodlifeme said in a statement.


Sidekick Health is a lifestyle companion app, utilizing insights from behavioral economics, artificial intelligence, and evidence based guidelines from the US CDC, to enhance the effectiveness of lifestyle education and coaching.

According to the statement, the app has shown great benefit to its users:

To date, companies and health organizations that have augmented in-person Diabetes Prevention Programs (DPPs) and employee fitness initiatives with SidekickHealth have seen an 82% retention rate among participants over a 4-month period, 76% increase in participant weight loss, and a 65% reduction in soda consumption.

Eggert Claessen, managing partner of Frumtak Ventures: “SidekickHealth’s solution … presents a significant opportunity to positively impact the wellbeing of employees and patients, while also reducing health-related overhead costs for enterprise companies and organizations globally.”

Picture is of Sidekick Health co-founders Tryggvi Þorgeirsson and Sæmundur Oddsson.

Data Dwell secures $1.2m in funding

Digital asset management (DAM) company Data Dwell has secured a $1.12m (140m ISK) funding round by Frumtak Ventures. The company also received a $80K (10m ISK) marketing grant from the Technology Development Fund.

“We think Data Dwell has enormous growth potential and like the product offering,” Eggert Claessen, GP at Frumtak Ventures, said in a statement. Following the investment, Eggert takes a seat on the board of directors as chairman.

The company’s list of Icelandic clients includes Marel, Coca-Cola Iceland, and Vodafone Iceland. They also service Cartoon Network, and will use the capital to fund an expansion into the British market.

Data Dwell Signing Photo
From the signing. Left to right: Eggert Claessen (Frumtak), Ólafur Helgi Þorkelsson (Data Dwell), Svana Gunnarsdóttir (Frumtak), Skarphéðinn Steinþórsson (Data Dwell).
“The investment will help us grow in foreign markets, and speed up product development,” said Ólafur Helgi Þorkelsson, CEO of Data Dwell, in a statement.

Data Dwell is digital asset management software and was founded in 2012 by Ólafur Helgi Þorkelsson and Skarphéðinn Steinþórsson. It now employs nine people, and has customers in Iceland and the UK.

Norðurskautið covers the Icelandic Startup and Tech scene. Follow us on Twitter or sign up for our mailing list to keep up to date. You can also join our Slack community –



Tulipop closes $2m Series A round led by Frumtak Ventures

Tulipop, maker of Tulipop world and character branded products, just announced a $2m financing round led by Frumtak Ventures. Þorbergur ehf., a previous investor, also participates in the round.

“Tulipop is an exciting investment opportunity. [It] is a company built on Icelandic ingenuity which has a huge potential for international growth,” says Svana Gunnarsdóttir, GP and co-founder at Frumtak Ventures. Svana will be joining the company’s board as chairman.

The company was established in 2010 by Helga Árnadóttir and Signý Kolbeinsdóttir. In 2015 the company was named Highly Commended for Best Newcomer in the Smallish Design Awards. Its products feature characters like Mr. Tree and Bubble from the magical island of Tulipop. This August the company will unveil a new line of Tulipop products licensed to Toynami, an American maker of quality toys.

Photo by Axel Sigurðsson.
Photo by Axel Sigurðsson.

“Since founding Tulipop six years ago, our goal has been to bring the world of Tulipop and its characters to kids around the world,” Helga, who is CEO of the company, says.

Tulipop’s products are sold in more than 120 stores in 14 countries. With the investment, the company aims to accelerate its international growth.

Tulipop has previously received an undisclosed investment by Þorbergur ehf., as well as a total of ~$120K in marketing grants from TDF.

Norðurskautið covers the Icelandic Startup and Tech scene. Follow us on Twitter or sign up for our mailing list to keep up to date. You can also join our Slack community –