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The Memo: Funding rounds and Startup Reykjavik's term sheet

Last week was eventful. Two funding rounds announced and Icelandic media wrote a lot about startups. Norðurskautið was also working on some interesting news – we’ll get to that later. Before the memo, a short request. We would like your term sheet 🙏 We’re researching how the term sheet culture

Oculis Pharma raises Series A led by Brunnur Ventures and Silfurberg

The pharmaceutical startup Oculis Pharma announced a Series A financing led by investors Brunnur Ventures and Silfurberg. The amount is undisclosed. “We are delighted to receive this support from Brunnur Ventures, Silfurberg and their co-investors to progress our development of DexNP,” Páll Ragnar Jóhannesson, CEO of Oculis, said in a

Greenqloud raises $4m from investor Kelly Ireland

Greenqloud, the maker of cloud management software Qstack, just announced a $4m investment from investor Kelly Ireland. Kelly will join the board of directors of the company. This was announced by Viðskiptablaðið today, and Kelly on Twitter a week ago. In a conversation with Viðskiptablaðið, Jónsi Stefánsson CEO of Greenqloud

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

Pharmaceutical company 3Z raises $400K seed round

3Z pharmaceuticals has closed a $400K seed round. The investors were Swiss biotech companies Baliopharm and Probiocon, as well as previous investors NSA Ventures and Sigþór Sigmarsson. “3Z offers a unique technology to speed up the development of innovative drugs for the treatment of all kind of neurological disorders,” says

Q2 2016 Funding & Exit Report

After an eventful end of June in Icelandic news – we elected a new president, and kept on owning the Euro 2016 – we bring you the quarterly funding report. Next Monday’s Memo will be dedicated to commentary on the funding report results. We highly recommend you sign up here. As

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