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Nýherji CEO takes a jab at Icelandic policies regarding R&D investment

In today’s Q1 earnings call for Nýherji, CEO Finnur Oddsson, took a jab at Icelandic policies regarding tax refunds based on investment in research and development. Finnur discussed the growth of Tempo, and why management decided to focus their growth in Montreal. “The reason is very practical: developing technology

Key takeaways from the EVE Fanfest 2016 opening keynote

The 12th annual EVE fanfest, the ‘árshátíð’ of players, developers and other stakeholders was kicked off yesterday with a keynote address by CEO Hilmar Veigar Pétursson. He discussed the state and future plans of CCP the makers of EVE and a number of VR games. Norðurskautið was present, here are

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

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

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

Biotech Startup Key Natura Secures $2.4m Funding

Biotech startup KeyNature has closed a $2.4m financing round. The round is fully financed by Eyrir Sprotar. The company produces astaxanthin, an antioxidant dietary supplement. According to the company’s website the company is a vertically integrated biotech company that focuses on consumer health products from microalgae. This was