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Kara Connect raises €1.2 million funding round from The New Business Venture Fund

Kara Connect raises €1.2 million funding round from The New Business Venture Fund

Kara Connect, the only GDPR compliant online therapy and practice management platform in Iceland, just raised a €1.2 million funding round, bringing in The New Business Venture Fund with a 10% share. This is the second round of VC funding for Kara Connect after an investment by Crowberry Capital

Laki Power raises undisclosed seed round led by Brunnur Ventures

Laki Power raises undisclosed seed round led by Brunnur Ventures

Laki Power, which creates real-time, autonomous surveillance of the high voltage power grid, just announced a seed round led by Brunnur Ventures. Terms of the deal are undisclosed. The company has previously received grants from the Technology Development Fund. “This round enables us to accelerate the build out of our

Nox Medical and Fusion Health merge to form Nox Health, with $10m investment from from private equity firm Alfa Framtak

Nox Medical and Fusion Health merge to form Nox Health, with $10m investment from from private equity firm Alfa Framtak

Nox Medical, the Icelandic maker of sleep monitoring and diagnostics devices, and FusionHealth, have merged to become Nox Health. As part of the merger, Icelandic private equity fund Alfa Framtak has invested $10m in the company for a 13% stake in the company. “The merger with FusionHealth, which is now

Mainframe Industries - founded by former CCP, NextGames and Remedy devs - raise €2m

Mainframe Industries - founded by former CCP, NextGames and Remedy devs - raise €2m

Mainframe Industries, a new, Reykjavik-based but pan-Nordic gaming company, has raised €2m (~$2.2m) in seed funding to build what they describe as “the first MMO specifically developed for cloud platforms.” “The creative and business opportunity that cloud gaming brings to social and immersive online games is unlike anything we’

The Best Year Yet: Funding Report for 2018

The Best Year Yet: Funding Report for 2018

In this somewhat-late funding report, we look at VC and startup funding in 2018. Note: This report has been updated with correct data. We made an error in the original article. We nicknamed 2017 “the year of the seed round” due to a record number of investments, most of which

Private Equity fund SIA III acquires Men&Mice

Private Equity fund SIA III acquires Men&Mice

Icelandic software company Men&Mice has been acquired by private equity fund SÍA III, which is managed by Stefnir. The acquisition price remains undisclosed. New Business Venture Fund and other investors are the sellers. The company was founded in 1990 by Petur Petursson and Jon Georg Adalsteinsson. The New

Figuring out how to move to Iceland just became easier with the opening of Work in Iceland

Figuring out how to move to Iceland just became easier with the opening of Work in Iceland

Today, Þórdís Kolbrún Reykfjörð Gylfadóttir, the minister for tourism, industry, and innovation, formally opened Work in Iceland, a “one-stop shop to provide comprehensive information about the job market in Iceland, to help foreign experts move to Iceland for work.” Work in Iceland is a collaborative project between Promote Iceland, Federation