Iceland runs on clean energy, so cleantech thrives here. Crowberry and Frumtak back climate founders early. Public funds and Nordic VCs join in too. Here are 13 cleantech investors funding Reykjavik founders in 2026.
Iceland runs almost fully on clean energy already. That makes it a natural home for cleantech founders.
Local VCs like Crowberry and Frumtak back you early. Public funds and Nordic climate VCs join them too.
You will pitch a dozen of these backers in one round. Ellty keeps your cleantech deck behind one tracked link.
Most want a full data room before the second meeting. Build it once in Ellty and reuse it for every fund.
| Type | Check size | Sector focus | Website | |
|---|---|---|---|---|
| Crowberry Capital | VC (seed/early) | EUR 200K-2M | AI, climate, deep tech | crowberrycapital.com |
| Frumtak Ventures | VC (seed/Series A) | USD 1M-5M | Software, energy, climate | frumtak.is |
| Brunnur Ventures | VC (early stage) | USD 1M-5M | Early-stage tech, growth | brunnurventures.is |
| Eyrir Venture Management | VC (deep tech) | USD 1M-5M | Industrial, climate, materials | evm.is |
| NSA Ventures (Nyskopunarsjodur) | Public fund | ISK 50-300M | Early innovation, broad | nsaventures.is |
| Transition Labs | Climate venture builder | Strategic | Carbon removal, energy | transitionlabs.is |
| Climate & Energy Fund (Orkusjodur) | Public fund (grants/loans) | Grants | Renewable energy, emissions | island.is |
| Technology Development Fund (Rannis) | Public fund (grants) | Grants | R&D, energy tech | rannis.is |
| KLAK - Icelandic Startups | Accelerator | ~$40K for 10% | Energy, cleantech, circular | klak.is |
| Business Iceland (Green by Iceland) | Public promotion | Non-equity | Green energy, cleantech export | islandsstofa.is |
| Pale Blue Dot | VC (climate, pre-seed/seed) | EUR 1M-3M | Climate tech only | paleblue.vc |
| 2150 | VC (climate) | EUR 1M-10M | Decarbonization, climate | 2150.vc |
| Voima Ventures | VC (deep tech) | EUR 1M-3M | Sustainability, materials | voimaventures.com |
Share your cleantech deck from one link
Ellty shows which fund opened your deck and read it through.
Start free 14-day trialWhat Reykjavik cleantech VCs back
A cleantech VC wants tech that works outside the lab. They back real emissions cuts, not just a slick pitch.
Most look for a clear path to commercial scale here. Gigaton-scale potential beats a neat science project.
Public grants often fund the earliest research work. VCs then step in once the core technology is proven.
See our Luxembourg seed investors list for Europe. Ellty shows which fund opened your deck and where they stopped.
Icelandic companies are now attracting serious foreign investment at a level that simply did not exist a few years ago.
13 Reykjavik cleantech investors
1. Crowberry Capital
Reykjavik's leading VC, now backing climate tech too.
Recent Activity: Runs a EUR 90M second fund across 34 companies
LinkedIn: Crowberry Capital on LinkedIn
Sector Focus: AI, climate, deep tech
Stage Focus: Seed, early
Check Size: EUR 200K-2M
Location: Reykjavik, Iceland
Website: crowberrycapital.com
2. Frumtak Ventures
An Icelandic VC with energy and climate in scope.
Recent Activity: Closed an oversubscribed $87M Fund IV in 2024
LinkedIn: Frumtak Ventures on LinkedIn
Sector Focus: Software, energy, climate
Stage Focus: Seed, Series A
Check Size: USD 1M-5M
Location: Reykjavik, Iceland
Website: frumtak.is
3. Brunnur Ventures
A Reykjavik VC with one of Iceland's best exit rates.
Recent Activity: Runs a ~$40M fund with a high exit rate
LinkedIn: Brunnur Ventures on LinkedIn
Sector Focus: Early-stage tech, growth
Stage Focus: Early-stage
Check Size: USD 1M-5M
Location: Reykjavik, Iceland
Website: brunnurventures.is
4. Eyrir Venture Management
An Icelandic deep-tech VC backing green industry bets.
Recent Activity: Backs green ammonia startup Atmonia
LinkedIn: Eyrir Venture Management on LinkedIn
Sector Focus: Industrial, climate, materials
Stage Focus: Deep tech, growth
Check Size: USD 1M-5M
Location: Reykjavik, Iceland
Website: evm.is
5. NSA Ventures (Nyskopunarsjodur)
Iceland's state fund seeding early-stage innovation.
Recent Activity: Iceland's evergreen state seed investor
LinkedIn: NSA Ventures on LinkedIn
Sector Focus: Early innovation, broad
Stage Focus: Seed, Series A
Check Size: ISK 50-300M
Location: Reykjavik, Iceland
Website: nsaventures.is
6. Transition Labs
A Reykjavik venture builder for hard climate tech.
Recent Activity: Backs Space Solar for Reykjavik Energy by 2030
LinkedIn: Transition Labs on LinkedIn
Sector Focus: Carbon removal, energy
Stage Focus: Venture building
Check Size: Strategic
Location: Reykjavik, Iceland
Website: transitionlabs.is
Know which fund opened your deck
Ellty logs every open and page. Chase the keen funds first.
Start free 14-day trial7. Climate & Energy Fund (Orkusjodur)
Iceland's public fund for energy and emissions work.
Recent Activity: Ran a 2025 climate and energy call
LinkedIn: Orkustofnun on LinkedIn
Sector Focus: Renewable energy, emissions
Stage Focus: Grants, loans
Check Size: Grants
Location: Reykjavik, Iceland
Website: island.is
8. Technology Development Fund (Rannis)
Rannis grants backing renewable-energy research work.
Recent Activity: Funds renewable-energy R&D each year
LinkedIn: Rannis on LinkedIn
Sector Focus: R&D, energy tech
Stage Focus: Grants
Check Size: Grants
Location: Reykjavik, Iceland
Website: rannis.is
9. KLAK - Icelandic Startups
Iceland's accelerator running a green energy track.
Recent Activity: Runs the Hringida green accelerator
LinkedIn: KLAK on LinkedIn
Sector Focus: Energy, cleantech, circular
Stage Focus: Accelerator
Check Size: ~$40K for 10%
Location: Reykjavik, Iceland
Website: klak.is
10. Business Iceland (Green by Iceland)
Promotes Iceland's clean energy to global investors.
Recent Activity: Promotes cleantech investment into Iceland
LinkedIn: Business Iceland on LinkedIn
Sector Focus: Green energy, cleantech export
Stage Focus: Promotion
Check Size: Non-equity
Location: Reykjavik, Iceland
Website: islandsstofa.is
11. Pale Blue Dot
A Nordic climate-only VC backing Icelandic founders.
Recent Activity: Runs a $100M climate-only second fund
LinkedIn: Pale Blue Dot on LinkedIn
Sector Focus: Climate tech only
Stage Focus: Pre-seed, seed
Check Size: EUR 1M-3M
Location: Malmo and Nordics
Website: paleblue.vc
12. 2150
A European climate VC chasing gigaton-scale impact.
Recent Activity: Writes EUR 1-10M cheques for climate scale
LinkedIn: 2150 on LinkedIn
Sector Focus: Decarbonization, climate
Stage Focus: Early to growth
Check Size: EUR 1M-10M
Location: London and Europe
Website: 2150.vc
13. Voima Ventures
A Nordic deep-tech VC backing green sustainability.
Recent Activity: Launched a EUR 90M deep-tech fund in 2025
LinkedIn: Voima Ventures on LinkedIn
Sector Focus: Sustainability, materials
Stage Focus: Deep tech, seed
Check Size: EUR 1M-3M
Location: Helsinki and Nordics
Website: voimaventures.com
Iceland runs on clean energy
Iceland generates almost all its power from renewables. Hydro and geothermal run the entire national grid.
That gives cleantech founders cheap and green power. You can test energy-hungry tech here at real scale.
Ellty is built for venture capital raises. Keep every fund behind one secure and tracked link.
Run an environmental diligence check early. Ready data wins investor trust and closes rounds faster.
Build for carbon and the grid
Carbon removal and energy are Iceland's hot sectors. Carbfix and Climeworks both run big projects here.
Investors want tech that fits the green Iceland grid. Solve a real energy or carbon problem to win them.
Share pilot data via secure file sharing. Track each reader and follow up while interest is hot.
Control fund access with granular permissions. Give each backer one clean view of your tech files.
Pension funds power Iceland VC
Most Icelandic VC money comes from local pension funds. They supply around 83% of all local fund capital.
That keeps the VC base stable but quite small here. Nordic funds add extra reach beyond Iceland itself.
Plan your fundraising sequence before you pitch. Line up the local funds first, then the Nordic ones.
Our due diligence timeline shows the steps. Ready founders close their cleantech round faster.
How to pitch a cleantech investor
Open with the climate problem you actually solve.
- 1.Open with the climate problem you actually solve.Show the scale of the emissions you can cut.
- 2.Prove the tech works outside the lab already.A live pilot beats a neat slide every time.
- 3.Show a clear path to real commercial scale.Cleantech funds want gigaton-size potential.
- 4.Name the cheque and the milestone it funds.Tie the raise to one clear technical goal.
- 5.Send one tracked Ellty link to your full deck.See which fund reads the data to the very end.
How Ellty helps you land a cleantech investor in Reykjavik
Your Reykjavik cleantech list is ready to use. Open a data room before the first fund call.
- 1.Upload your deck, tech data and pilot results.Keep every cleantech file in one secure room.
- 2.Send each fund their own private tracked link.Set precise view and download rights per fund.
- 3.Watch every open and follow up at the right time.Chase the funds that read the whole deck first.
Reykjavik cleantech funding questions
- VCs like Crowberry and Frumtak. Plus public funds.
- Cheap clean energy and a real testbed. Grids run green.
- Yes, the Energy Fund and Rannis give them. Apply early.
- Yes, Pale Blue Dot and 2150 do. They back climate tech.
- Mostly local pension funds. They supply most capital.
