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Top 20 Health Care Startup Investors in Iceland in October 2023

A list of 20 angel investors and VC (Venture Capital) funds that invest in Health care startups based in Iceland. We rank investors based on the number of investments they made in Health care companies from Iceland. We update this investor list every month.

Top 20 Health Care Startup Investors in Iceland in October 2023

Investor Health Care Iceland investments
New Business Venture Fund 9
Novator 3
Frumtak Ventures 3
Brunnur Ventures 2
Iceland Venture Studio 2
Sigþór Sigmarsson 2
Sigurgeir Gudlaugsson 1
Kvika Asset Management 1
TM 1
Probiocon 1
Yanu Holdings 1
Silicon Valley Bank 1
Crowberry Capital 1
Andri Sveinsson 1
Flerie Invest 1
Asabys Partners 1
Silfurberg 1
Baliopharm 1
ABC Ventures 1
Wellington Partners 1

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Investor list
New Business Venture Fund
VC Fund · Reykjavík, Gullbringusysla, Iceland · 1 investment in the past 12 months

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.

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Investment focus

  • Software, Health Care, Medical
  • Seed, Funding Round, Series A
  • Iceland, United States, China

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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Novator
VC Fund · London, England, United Kingdom

Novator is an alternative investment firm founded and led by the international investor and entrepreneur Thor Bjorgolfsson.Novator's investment portfolio is focused around following sectors: Telecommunications, Pharmaceuticals, IT and Renewable Energy. In addition, Novator operates a Private Equity Fund and a Credit Opportunities Fund.Novator focuses on developing strong management teams in each of its portfolio companies.  While granting them the autonomy to create value, Novator maintains a supervisory role, principally through representation on the Boards of its investee companies. Novator differentiates itself from many other private equity companies in concentrating on complex situations, either by virtue of their structure or their cross-border nature. To create value, Novator undertakes the restructuring or "de-risking" of investment opportunities through re-financing, combining acquired assets with existing businesses, through sale to strategic or financial buyers, or through flotation. Novator's investment portfolio is focused around four main sectors:Telecommunications, Pharmaceuticals, IT and Renewable Energy.

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Investment focus

  • Information Technology, Software, E-Commerce
  • Funding Round, Series A, Series B
  • United Kingdom, Iceland, Germany

Portfolio highlights

  • Olive — Olive's technology evaluation platform finds & compares your best-match enterprise software & manages the selection process. Build requirements from pre-built libraries. Compare all solutions in the market against your unique business needs. Olive takes the best practices of digital transformation and shortens the process allowing you to make smart decisions, faster.
  • Klang Games — Klang Games is an entertainment & game development studio in Berlin, developing the MMO Simulation and Virtual World, Seed. Klang is always hiring!
  • Sidekick Health — Our mission is to develop and deliver effective personalized digital therapeutics that prevent suffering and add millions of quality life years to people around the world. Our multi-chronic digital care platform allows us to scale the production of clinical treatments across major chronic diseases.
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Frumtak Ventures
VC Fund · Reykjavík, Gullbringusysla, Iceland

Frumtak (a.k.a. Frumtak Investment Fund, Frumtak I, Frumtak 1) was founded December 23rd. 2008. The objective was to invest in early stage growth companies that were post seed and had growth potential. This would result in leading companies that could deliver a good return to investors.At the close of Frumtak‘s investment period on December 31st.2012, the fund had invested in fifteen companies with nine investments still active. The remainder of lifetime of the fund is used to follow on investments and divest assets.Frumtak Ventures (Frumtak II, Frumtak 2) started in February 2015. The fund builds on the legacy of Frumtak 1. The fund invests in early stage innovative companies that are post seed and show great potential for growth. The fund invests primarily in Iceland but is allowed to invest abroad as allowed by law in connection with its portfolio investments to ensure success in foreign markets.Frumtak II emphasizes to invest in companies where growth and sales in foreign markets are the primary objective, but does not specialize in any particular industry. The fund wants to ensure that original ideas get a chance and thereby increasing the probability of creating growth and value. By doing this, it enforces the image that Icelandic innovation is profitable.Frumtak II aspires to be a trusted and popular ally. The fund strives to have a good relationship and co-operation with all stakeholders within the start-up and innovation community. The fund puts a special emphasis on co-operating with stakeholders outside Iceland.

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Investment focus

  • Software, Information Technology, Enterprise Software
  • Seed, Funding Round, Series A
  • Iceland, United States, United Kingdom

Portfolio highlights

  • 50skills — Bring people, information and tools together. 50skills is a hiring system and so much more.
  • Spectaflow — Simple housekeeping and task management for hospitality. More effective operations without printouts, phone calls, and yellow stickers. Learn more!
  • Abler — Abler brings simplicity to the complexities of team management. With easy scheduling, messaging, payment, and data tools, Abler empowers users to spend more time cultivating the essential life skills and values learned through sports and other organised activities.
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Brunnur Ventures
VC Fund · Reykjavík, Gullbringusysla, Iceland · 4 investments in the past 12 months

Brunnur Ventures invests in entities in Iceland and has the ability to invest abroad as a part of the expansion of its portfolio companies internationally. The venture firm does not have a specific industry focus. However, it investments in companies that show great growth potential in specific industry sectors. Brunnur Ventures is the GeneralPartner of Brunnur Venture Capital Fund a USD 40M fund.

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Investment focus

  • Software, SaaS, Biotechnology
  • Seed, Series A, Angel
  • Iceland, United States, Denmark

Portfolio highlights

  • PaxFlow — We empower tour operators to streamline operations PaxFlow helps streamline tour operations with resource management, data based workflows, customer communication and self service tools. Discover Streamlined Tour Management PaxFlow integrates with leading booking system providers and integrates booking data with operational features like resource management, shift scheduling, departure management and customer self service portal to...
  • Vitar Games — A WW1 Strategy driven Management Game
  • Standby Deposits — Standby Deposits is a rental security deposit replacement based on credit.
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Iceland Venture Studio
VC Fund · Reykjavík, Gullbringusysla, Iceland · 2 investments in the past 12 months

We help people grow and build decentralized companies

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Investment focus

  • Health Care, Software, B2B
  • Seed, Pre-Seed, Funding Round
  • Iceland, India, Israel

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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Sigþór Sigmarsson
Angel · London, England, United Kingdom · 1 investment in the past 12 months

Sigþór Sigmarsson is Finance director at Novato. He attended Háskóli Íslands.

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Investment focus

  • Health Care, Medical, Software
  • Seed, Funding Round
  • Iceland

Portfolio highlights

  • Genis — GENIS is a biotechnology company headquartered in Siglufjörður, Iceland. They strive to discover, develop and commercialize novel and life-changing products, supplements and medical devices derived from crustacean exoskeletons. The GENIS team has been developing cutting-edge research on the production of chitin, chitosan, and short chain chitosanfor two decades. Their mission is to leverage this accumulated body of world-class scientific research with the intent of providing life-altering benefits for individuals.
  • Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.
  • 3Z Pharmaceuticals — 3Z Pharmaceuticals provides research services intended to provide drug development services. It offers drug screening on sleep and epilepsy assays that helps in the development of drugs used to treat neurological disorders, enabling patients to get multiple drug efficacy and toxicity assays.Karl Karlsson and Haraldur Thorsteinsson founded 3ZPharmaceuticals in 2008. It based their company on their research on the sleeping patterns of the zebrafish at the Reykjavik University Neurolab in 2006.
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Sigurgeir Gudlaugsson
Angel · 1 investment in the past 12 months

Sigurgeir Gudlaugsson is the Chief Executive Officer of Genis.

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Investment focus

  • Health Care, Biotechnology, Medical Device
  • Funding Round
  • Iceland

Portfolio highlights

  • Genis — GENIS is a biotechnology company headquartered in Siglufjörður, Iceland. They strive to discover, develop and commercialize novel and life-changing products, supplements and medical devices derived from crustacean exoskeletons. The GENIS team has been developing cutting-edge research on the production of chitin, chitosan, and short chain chitosanfor two decades. Their mission is to leverage this accumulated body of world-class scientific research with the intent of providing life-altering benefits for individuals.
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Kvika Asset Management
VC Fund · Reykjavík, Gullbringusysla, Iceland

Kvika Asset Management manages a broad range of funds including equity funds, bond funds and mixed funds.

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Investment focus

  • Medical, Health Care, Biotechnology
  • Series A
  • Iceland

Portfolio highlights

  • EpiEndo Pharmaceuticals — Welcome to EpiEndo Pharma | Developing epithelial barrier enhancing drugs to treat chronic respiratory diseases
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TM
VC Fund · Reykjavík, Gullbringusysla, Iceland · 1 investment in the past 12 months

TM is a company that provides all insurance and damage related services through call, online chats & emails.

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Investment focus

  • Health Care, Biotechnology, Medical Device
  • Funding Round
  • Iceland

Portfolio highlights

  • Genis — GENIS is a biotechnology company headquartered in Siglufjörður, Iceland. They strive to discover, develop and commercialize novel and life-changing products, supplements and medical devices derived from crustacean exoskeletons. The GENIS team has been developing cutting-edge research on the production of chitin, chitosan, and short chain chitosanfor two decades. Their mission is to leverage this accumulated body of world-class scientific research with the intent of providing life-altering benefits for individuals.
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Probiocon
VC Fund

Probiocon is a consulting company offering comprehensive services for pharmaceutical and biotechnological companies. We give advice and support for all kind of corporate development activities (services) needed for biotech and pharma companies, including but not limited to Corporate Financing, Licensing & Partnering, Merger & Acquisition,and Corporate Organisation.Their vision is to provide optimized and cost-effective solutions to the special needs of companies developing biopharmaceutical compounds.

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Investment focus

  • Medical, Consulting, Health Care
  • Seed
  • Iceland

Portfolio highlights

  • 3Z Pharmaceuticals — 3Z Pharmaceuticals provides research services intended to provide drug development services. It offers drug screening on sleep and epilepsy assays that helps in the development of drugs used to treat neurological disorders, enabling patients to get multiple drug efficacy and toxicity assays.Karl Karlsson and Haraldur Thorsteinsson founded 3ZPharmaceuticals in 2008. It based their company on their research on the sleeping patterns of the zebrafish at the Reykjavik University Neurolab in 2006.
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Yanu Holdings
VC Fund · 1 investment in the past 12 months

Yanu Holdings is a global investment firm.

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Investment focus

  • Health Care, Biotechnology, Medical Device
  • Funding Round
  • Iceland

Portfolio highlights

  • Genis — GENIS is a biotechnology company headquartered in Siglufjörður, Iceland. They strive to discover, develop and commercialize novel and life-changing products, supplements and medical devices derived from crustacean exoskeletons. The GENIS team has been developing cutting-edge research on the production of chitin, chitosan, and short chain chitosanfor two decades. Their mission is to leverage this accumulated body of world-class scientific research with the intent of providing life-altering benefits for individuals.
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Silicon Valley Bank
VC Fund · Santa Clara, California, United States · 38 investments in the past 12 months

Silicon Valley Bank works with technology, life science, cleantech, venture capital, private equity, and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment, and international banking services to its clients worldwide through 27 U.S. offices and seven internationaloperations. Banking innovative companies and exclusive wineries, Silicon Valley Bank’s diverse financial services, knowledge, global network, and world-class service increase its clients’ probability of success. Forbes Magazine ranks SVB among America’s Best Banks, and Fortune Magazine named SVB one of the Best Companies to Work For in 2012.

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Investment focus

  • Software, Health Care, Biotechnology
  • Debt Financing, Series B, Series A
  • United States, United Kingdom, Canada

Portfolio highlights

  • SafeRide Health — SafeRide Health provides technology-forward non-emergency medical transportation (NEMT) services for care providers and health plans offering Medicare Advantage and Medicaid. We intelligently improve and simplify NEMT to improve health outcomes and healthcare satisfaction.
  • Rainforest — Rainforest focuses on providing software platforms for payment processing. Rainforest is headquartered in Atlanta, United States.
  • Olema Oncology — At Olema Oncology, we leverage our deep understanding of endocrine-driven cancers, nuclear receptors and mechanisms of acquired resistance with the goal of transforming the standard of care for women living with cancer by focusing on developing more convenient and effective therapies. Join us as we aim to design therapies for improving lives.
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Crowberry Capital
VC Fund · Reykjavík, Gullbringusysla, Iceland · 4 investments in the past 12 months

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.

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Investment focus

  • Software, Gaming, Information Technology
  • Seed, Pre-Seed, Series A
  • Iceland, Denmark, United States

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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Andri Sveinsson
Angel · Ísafjörður, Vestur-Isafjardarsysla, Iceland · 1 investment in the past 12 months

Andri Sveinsson is a partner at the Novator Partners investment firm.Andri earned a master's degree in economics with a concentration on accounting from the University of Iceland. Andri’s first job in the finance and banking sector was with Skandia. He subsequently moved on to Bunadarbanki, where he was asked to serve as the director ofcorporate finance. Andri and several other colleagues then established Gilding, an investment company, which merged in 2001 with Bunadarbanki. Andri began to work alongside Thor in 2002 and was a founding partner of Novator in 2005.At Novator, Andri’s primary focus has been mergers and acquisitions, sourcing investments, finance, and operations. He has worked in several industries, most specifically in the health, telecommunications, and high-tech industries.Andri currently sits on the board and oversees investments in several companies, including SideKick Health, Catapult, Dreamlines, Xantis, Playfusion, and Nova, which are involved primarily in the fields of generic pharma, high-tech, and healthcare.Andri has many other interests, such as skiing, music, football, motorcycles, and boxing. He co-founded the Icelandic Punk Museum, which opened in 2016, and also produced several films.

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Investment focus

  • Health Care, Medical Device, Mobile
  • Series A, Funding Round
  • Iceland

Portfolio highlights

  • Genis — GENIS is a biotechnology company headquartered in Siglufjörður, Iceland. They strive to discover, develop and commercialize novel and life-changing products, supplements and medical devices derived from crustacean exoskeletons. The GENIS team has been developing cutting-edge research on the production of chitin, chitosan, and short chain chitosanfor two decades. Their mission is to leverage this accumulated body of world-class scientific research with the intent of providing life-altering benefits for individuals.
  • Sidekick Health — Our mission is to develop and deliver effective personalized digital therapeutics that prevent suffering and add millions of quality life years to people around the world. Our multi-chronic digital care platform allows us to scale the production of clinical treatments across major chronic diseases.
Show more investments...

Flerie Invest
VC Fund

Flerie is an active long-term life science investor, focusing on biotech and pharmaceutical investments globally.

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Investment focus

  • Biotechnology, Health Care, Medical
  • Series A, Funding Round, Series B
  • Sweden, Israel, Iceland

Portfolio highlights

  • AnaCardio — AnaCardio develops drugs targeting a novel mechanism that improves cardiac contractility and aims to improve clinical outcomes in heart failure.
  • XNK Therapeutics — XNK Therapeutics, founded in 2012, is one of the pioneering companies within the landscape of cell therapy.
  • Vitara Biomedical — Vitara Biomedical has developed a therapeutic platform to support premature infants. Vitara Biomedical's platform was inspired by natural physiological processes to transform neonatal care.
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Asabys Partners
VC Fund · Barcelona, Catalonia, Spain · 3 investments in the past 12 months

Asabys Partners is a venture capital firm that invests across the board in human healthcare. The company is active in the health-tech and biopharma industries and aims to invest in Spain and abroad in innovative and transformative technologies. Asabys Partners are motivated by the idea of pushing the boundaries of science and medicine. This is donethrough the sourcing and financing of the most disruptive technologies, and through the collaboration with the best internal and external talents of our industry.

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Investment focus

  • Biotechnology, Health Care, Medical Device
  • Series A, Seed, Series B
  • Spain, Belgium, Germany

Portfolio highlights

  • DeepUll — DeepUll is a biotech company that focuses its activity on the development of a new diagnostic system for early-stage sepsis condition. DeepUll’s proposal is based on quickly identifying the pathogens and offering the antibiogram within a few hours on the one hand, and on using the data and learning about the patient’s immunological and functionalstatus on the other. The system allows doctors to predict the future appearance and evolution of sepsis within a short period of time and thus provide a suitable clinical response even before the symptoms arise.
  • Orikine Bio — Orikine Bio is a pioneer biotech company in the field of tailored cytokines with unmatched biological properties for the treatment of immune-mediated disorders.
  • Nuage Therapeutics — Nuage Therapeutics is a pharmaceutical company which utilizes chemical biology and biomolecular condensation to develop selective drugs that target proteins with disordered regions for challenging indications to improve patient’s life. The focus of the medication is to enhance selective inhibitors of intrinsically disordered proteins involved inchallenging indications in order to meet unmet medical needs.
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Silfurberg
VC Fund · Reykjavík, Gullbringusysla, Iceland

Silfurberg is an international venture capital firm that invests in early-stage health care, biotech, and other life science companies. The firm follows up its investments as an active participant in the company and aims all the time to add value to its investments whenever possible. Silfurberg was founded in 2002 and is based in Reykjavík,Iceland.

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Investment focus

  • Health Care, Biotechnology, Pharmaceutical
  • Series A
  • Iceland

Portfolio highlights

  • Oculis — The Oculis drug delivery platform consists of a novel technique to facilitate drug absorption to both anterior and posterior parts of the eye. The advantage is a drug delivery system where diseases of the posterior part of the eye can be treated with a simple topical application. The Oculis drug delivery platform allows diseases such as DME(diabetic macular edema) at the posterior part of the eye to be treated with a non-invasive topical application. Furthermore, the technique has been demonstrated to allow diseases at the anterior part of the eye to be treated with a reduced number of topical applications compared to conventional eye-drops.
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Baliopharm
VC Fund · Jülich, Nordrhein-Westfalen, Germany

Baliopharm AG is a biotechnology company focusing on the development of novel therapeutics for the treatment of autoimmune diseases like rheumatoid arthritis, Crohn`s disease, psoriasis and multiple sclerosis, and for cancer.

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Investment focus

  • Medical, Consulting, Health Care
  • Seed
  • Iceland

Portfolio highlights

  • 3Z Pharmaceuticals — 3Z Pharmaceuticals provides research services intended to provide drug development services. It offers drug screening on sleep and epilepsy assays that helps in the development of drugs used to treat neurological disorders, enabling patients to get multiple drug efficacy and toxicity assays.Karl Karlsson and Haraldur Thorsteinsson founded 3ZPharmaceuticals in 2008. It based their company on their research on the sleeping patterns of the zebrafish at the Reykjavik University Neurolab in 2006.
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ABC Ventures
VC Fund · 1 investment in the past 12 months

ABC Ventures operates as an investment firm.

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Investment focus

  • Water, Medical, Health Care
  • Pre-Seed, Series A
  • India, Iceland

Portfolio highlights

  • Polka Pop — Polka Pop is India's first brand to serve naturally flavored sparkling water with zero calories and no added sugar. Supporting a sustainable lifestyle choice, this healthy drink is available in four flavors, i.e. lemon-lime, orange, peach, and cranberry. The fizz makes this the best mix for cocktails and mocktails.
  • EpiEndo Pharmaceuticals — Welcome to EpiEndo Pharma | Developing epithelial barrier enhancing drugs to treat chronic respiratory diseases
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Wellington Partners
VC Fund · Munich, Bayern, Germany · 3 investments in the past 12 months

Wellington Partners is a venture capital firm that invests in technology and life sciences companies, focusing on Digital Media, Software, Electronics & Photonics, Resource Efficiency, and Biotech/Life Sciences. It is committed to providing outstanding entrepreneurs with the necessary resources to fund their strategies. We typically leadfinancing rounds ranging from € 0.5 million to € 20 million. Depending on the maturity of the company, its own commitment can go as high as € 15 million.Wellington was established in 1998 and has offices in Munich, London, and Zurich.

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Investment focus

  • Health Care, Biotechnology, Medical
  • Series A, Series B, Funding Round
  • Germany, United States, United Kingdom

Portfolio highlights

  • Nosto — Use Powerful Personalization Made Easy on e-Commerce Platforms. Nosto generates a 10-30% Average Increase in Revenue.
  • Minervax — MinervaX is pursuing the development of a vaccine against Group B streptococcus (GBS) infections by utilizing a particular fusion protein : click to read more
  • Seamless Therapeutics — Seamless Therapeutics is changing the paradigm of gene editing through a pioneering approach to restore health in patients with severe conditions in a safe and precise manner. Seamless technology platform unlocks the reprogramming of recombinases, a highly versatile class of enzymes.
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