42 Best Startups in Iceland to Watch in 2025

The Definitive Seedtable Ranking of Startups in Iceland

We track 71,000+ companies and rank them dynamically using our Seedtable Score – a score that uses quantitative and qualitative data points to signal the momentum behind a company. We then monitor the list manually leveraging our expertise as founders and investors.

There are 42 start-ups with an aggregate funding of $870.7m. The average funding per company in this subset is $20.7m.

Last update to the database: Feb 18, 2025. See changelog.

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2

Funding Rounds

$133.4k

Money raised

Scintilla Iceland is an interior textile design company based in Reykjavik, Iceland.

9

Funding Rounds

$1.2m

Money raised

Carbon Recycling International is a Kópavogur-based carbon capture company producing methanol for use as an alternative fuel source.

8

Funding Rounds

$226.0m

Money raised

Kerecis is an Icelandic company developing and commercializing fish-skin products for human wounds and tissue regeneration.

6

Funding Rounds

$28.3m

Money raised

Sound simulation platform and synthetic audio data generation platform.

Location:

Key people:

3

Funding Rounds

$4.5m

Money raised

Avo is a company that provides analytics for cross-platform consumer products.

Key people:

1

Funding Rounds

$20.0m

Money raised

Sidekick Health has built a gamified digital care platform that targets chronic and lifestyle disease management.

Location:

Key people:

5

Funding Rounds

$48.9m

Money raised

Meniga is a digital banking platform founded in 2009 by Georg Ludviksson, Ásgeir Örn Ásgeirsson and Viggó Ásgeirsson.

Location:

Key people:

1

Funding Rounds

$760.0k

Money raised

Accordium is an e-signature and workflow automation platform founded in 2017 by Alexander Brix, Andrew Whittaker and Barrington Russell.

4

Funding Rounds

$48.2m

Money raised

Platform that uses Human AI to help banks fight financial crime more efficiently.

2

Funding Rounds

$10.0m

Money raised

Authenteq provides an Omni-Channel identity verification and KYC solution that allows your customers to verify their identity through any channel without compromising their privacy.

10

Funding Rounds

$1.7m

Money raised

A privately-owned Icelandic company established in 2001. ORF Genetics Ltd. is a pioneer in genetic...

Location:

Key people:

1

Funding Rounds

$110.0k

Money raised

IceWind is a company focusing on designing and manufacturing small vertical axis wind turbines for a variety of applications including telecom towers and off-grid cabins. The company's goal is to show that turbines can be elegant and cost-effective solutions for green energy systems.

4

Funding Rounds

$31.0m

Money raised

GRID is a productivity tool that turns spreadsheets into shareable, interactive web documents.

2

Funding Rounds

$3.0m

Money raised

Laki Power is a research company specializing in eco-friendly power solutions founded in 2015.

2

Funding Rounds

$4.0m

Money raised

A stablecoin cryptocurrency built using Ethereum and backed by the US dollar.

3

Funding Rounds

$36.9m

Money raised

Oculis Labs is a company founded in 2017.

Location:

2

Funding Rounds

$4.4m

Money raised

We help clubs, coaches, parents, and ultimately the players to better harness the life developing in sports.

1

Funding Rounds

$500.0k

Money raised

Platform providing medical healthcare systems with advanced IT solutions globally.

1

Funding Rounds

$8.0m

Money raised

An award-winning trip planning solution now available for Travel Agencies, OTA's, Airlines, Travel Services and Bloggers/Indie Media.

Location:

Key people:

2

Funding Rounds

$11.0m

Money raised

Sumo Signals is an arbitrage trading with AI-powered signals founded in 2022 by Andrew Smith.

2

Funding Rounds

$7.4m

Money raised

Breakroom is a Kopavogur-based developer of a virtual reality workspace environment.

1

Funding Rounds

$1.0m

Money raised

On-demand micro influencer campaigns, anywhere in the world.

2

Funding Rounds

$106.0m

Money raised

Icelandic Glacial is a brand of bottled water from the Ölfus spring in Iceland.

Industries:

Location:

1

Funding Rounds

$3.6m

Money raised

1939 Games is a studio dedicated to developing WWII-themed video games founded in 2015.

Industries:

Location:

1

Funding Rounds

$2.4m

Money raised

Plain Vanilla is an Iceland-based company founded in 2011.

Location:

1

Funding Rounds

$2.5m

Money raised

Rocky Road is a Reykjavík-based cinematography company founded by Thor Fridriksson.

Industries:

Location:

Key people:

2

Funding Rounds

$6.0m

Money raised

Fractal 5 Inc. is a startup creating a new social product founded in 2020.

2

Funding Rounds

$183.3k

Money raised

Breather Ventilation is an Iceland-based company founded in 2010 by Johannes Loftsson.

1

Funding Rounds

$2.5m

Money raised

Moombix is an online music learning platform founded in 2021 by Margret Juliana Sigurdardottir, Aleksandar Arsovski and Svanhvit Fridriksdottir.

1

Funding Rounds

$16.0k

Money raised

Datatracker is a Reykjavík-based company founded in 2012 by Hrafn Eiríksson.

1

Funding Rounds

$4.5m

Money raised

Indo is a neo-bank offering advanced mobile banking services founded in 2018.

1

Funding Rounds

$8.7m

Money raised

AviLabs is a passenger disruption management platform for airlines founded in 2019.

1

Funding Rounds

$1.9m

Money raised

Gamasutra is an Iceland-based company.

Location:

1

Funding Rounds

$34.0m

Money raised

OZ Communications is an Iceland-based chat company.

Industries:

Location:

1

Funding Rounds

$623.1k

Money raised

GRID ehf. is an Iceland-based company founded in 2018.

Location:

1

Funding Rounds

$19.3k

Money raised

Admittor is a company founded in 2011.

Location:

1

Funding Rounds

$27.0m

Money raised

Verne Global is an Iceland-based company.

Location:

1

Funding Rounds

$5.5m

Money raised

DT Equipment is an Iceland-based analytics company.

Industries:

Location:

1

Funding Rounds

$1.1m

Money raised

indó is an Iceland-based company.

Location:

1

Funding Rounds

$9.1m

Money raised

Teatime Games is an Iceland-based company.

Location:

1

Funding Rounds

$8.0m

Money raised

TripCreator is an Iceland-based company.

Location:

1

Funding Rounds

$150.0m

Money raised

Artic Energy is an Iceland-based company.

Location:

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