Top 5 Education Startup Investors in Iceland (May 2026)

The New Business Venture Fund is an evergreen investment fund that actively contributes to the development and growth of the Icelandic economy by investing in promising innovation and start-up companies.The New Business Venture Fund invests at seed and early stage in promising growth companies with great business ideas and strong management anddevelopment teams.The New Business Venture Fund is a state owned investment fund intended to strengthen and develop the Icelandic venture capital market along with promoting startups and business in Iceland thus encouraging economic growth.

Investment focus

Industry: Software, Health Care, Medical
Stage:Seed, Series A
Geography: Iceland, United States, China

Investor stats

Total investments: 37
Round size: Seed $400k–$2.6M; Series A $450k–$3.4M
Lead/follow: 62% lead, 38% follow

Portfolio highlights

HorseDay — HorseDay is a mobile application to track horse activities.
Spectaflow — Simple housekeeping and task management for hospitality. More effective operations without printouts, phone calls, and yellow stickers. Learn more!
PayAnalytics — PayAnalytics helps companies monitor, address and close pay gaps. Comply with regulations, use built-in reports or customize your own. Pay equity decisions made easy for HR and compensation managers as well as consultants. Used in over 75 countries for organizations of all sizes.

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We help people grow and build decentralized companies

Investment focus

Industry: Health Care, Software, B2B
Stage:Seed, Pre-Seed
Geography: Iceland, India, Israel

Investor stats

Total investments: 11
Round size: Seed $500k–$3M
Lead/follow: 27% lead, 73% follow
Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

Soptle — Founded in Sep 2021, Soptle started to establish an integrated technology to the neglected regional FMCG Manufacturers in India with a B2B Retail Commmerce App. It uses tech and data to distribute at scale and use necessary components (existing Distributor/Wholesaler) in the FMCG Supply Chain to build a high growth and profitable business.
Expertrons — Expertrons is an upskilling platform that offers advanced training programs | BSFI | HR | Marketing and many more to assure 100% professional success.
Nanom — Greenvolt Nano creates nano-enhanced materials for use in battery technology. It provides a pathway to clean, inexpensive, and renewable energy sources while reducing environmental toxicity. And makes products smarter, efficient, and longer lasting. It is founded in 2017.

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Sisu Game Ventures is an early-stage venture capital fund focused 100% on games. We set up shop in 2014 to support the most promising founders in the industry. Sisu has deep roots in the Nordic region, but our network of founders is fully global.The Sisu team consists of Samuli, Paul, Erik, Kalle, Moaffak, Kadri, and Jere - all of whom haveextensive backgrounds in the game industry and startup circles, both as entrepreneurs and investors. We've founded and built sixteen game companies since the early 90s and had several successful exits. Apart from funding companies, the team uses their expertise to act as a studio builder. Individual founders are supported in building their team, honing their product strategy and in gathering the right group of investors.

Investment focus

Industry: Gaming, Video Games, Virtual Reality
Stage:Seed, Series A
Geography: Finland, United States, Iceland

Investor stats

Total investments: 45
Round size: Seed $193k–$4.6M; Series A $6M–$38M
Lead/follow: 22% lead, 78% follow
Last fund: Likely still investing — raised $50M in 2021

Portfolio highlights

Unagi — Collect your favorite football players and pick your best 11 every week!
Multiscription — Multiscription is a cross-product subscription service. Introducing Unleashd, the first in-game and cross-publisher subscription service for free-to-play games.
Esports Coaching Academy — ECA's software solution consists of an educational hub and a SaaS solution that provides exercises and complete programming for esports clubs and coaches.

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Crowberry Capital invests at seed and early stage in emerging technology ventures in the Nordics. Our mission is to back people that are good for companies and build companies that are good for people. We have a strong follow-through philosophy and commit to putting your company first.

Investment focus

Industry: Software, Gaming, Information Technology
Stage:Seed, Pre-Seed, Series A
Geography: Iceland, Denmark, United States

Investor stats

Total investments: 34
Round size: Seed $1M–$3M; Pre-Seed $400k–$1.3M; Series A $6.1M–$15M
Lead/follow: 50% lead, 50% follow
Last fund: Likely still investing — fund raised in 2021

Portfolio highlights

Embla — Embla provides an online medical weight loss treatment using prescription drugs and coaching. The company provides patients with evidence-based treatments, digital tools, medication, and coaching to facilitate sustainable weight loss. Embla was founded in 2021 and is headquartered in Copenhagen, Denmark.
SNERPA Power — SNERPA Power develops intelligent energy services.
Ellie.ai — Grasp your business needs and validate your product ideas before building your data pipelines. Use Ellie's conceptual data models and logical data models to design great data products.

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