Reykjavik seeds startups with VC and public money. Crowberry and Frumtak lead early rounds. Kria and grants add matching funds. Here are 13 seed investors funding Reykjavik founders in 2026.
Seed is where Reykjavik founders really start to scale. You raise it once you have a product and real traction.
Local VCs lead, and public funds match right alongside. Nordic seed funds then co-invest from abroad as well.
You will run this round across ten or more backers. Ellty keeps your seed deck behind one link you can track.
Most want a full data room before the second call. Build it once in Ellty and reuse it for every fund.
| Type | Check size | Sector focus | Website | |
|---|---|---|---|---|
| Crowberry Capital | Seed VC | EUR 200K-2M | AI, climate, deep tech | crowberrycapital.com |
| Frumtak Ventures | Seed / Series A VC | USD 1M-3M | Export-driven tech | frumtak.is |
| Brunnur Ventures | Early-stage VC | USD 1M-3M | B2B software, fintech, health | brunnurventures.is |
| Eyrir Sprotar | Seed fund | ~EUR 3M | Industrial, tech | eyrir.is |
| Kria (state seed fund) | Public seed fund | Up to ISK 100M w/ match | Tech, life sciences | nyskopun.is |
| Iceland Venture Studio | Venture studio / pre-seed | $25K-200K | Early tech, healthtech | icelandventurestudio.com |
| Transition VC | Climate seed VC | Seed-Series A | Climate, deep tech | transitionvc.com |
| Technology Development Fund (Rannis) | Public fund (grants) | Grants | R&D, deep tech | rannis.is |
| KLAK - Icelandic Startups | Accelerator | ~$40K for 10% | Sector-agnostic | klak.is |
| Pale Blue Dot | VC (Nordic climate seed) | EUR 1M-3M | Climate tech only | paleblue.vc |
| Voima Ventures | VC (Nordic deep tech) | EUR 1M-3M | Deep tech, materials | voimaventures.com |
| byFounders | VC (Nordic seed) | EUR 500K-3M | Seed tech, Nordics | byfounders.vc |
| Nordic Makers | Angel / seed collective | $100K-500K | Seed tech, founders | nordicmakers.vc |
Keep your seed raise in one link
Ellty shows which fund opened your deck and read it through.
Start free 14-day trialWhat a Reykjavik seed fund backs
A Reykjavik seed fund backs a product that users want. They want hard proof, not a deck full of promises.
Most look for early revenue or strong, sticky usage. They check your team, your market and your burn rate.
They want a clear plan that scales beyond Iceland. A purely local story rarely wins a full seed round.
See our Reykjavik angel investors list for earlier cheques. Ellty shows which fund opened your deck and where they stopped.
We back seed founders from day one, when they have global ambition and the grit to build it out of Iceland.
13 Reykjavik seed investors
1. Crowberry Capital
A Reykjavik seed VC writing the earliest cheques.
Recent Activity: Runs a EUR 90M second fund across 34 companies
LinkedIn: Crowberry Capital on LinkedIn
Sector Focus: AI, climate, deep tech
Stage Focus: Pre-seed, seed
Check Size: EUR 200K-2M
Location: Reykjavik, Iceland
Website: crowberrycapital.com
2. Frumtak Ventures
An Icelandic VC backing export-driven tech startups.
Recent Activity: Closed an oversubscribed $87M Fund IV in 2024
LinkedIn: Frumtak Ventures on LinkedIn
Sector Focus: Export-driven tech
Stage Focus: Seed, Series A
Check Size: USD 1M-3M
Location: Reykjavik, Iceland
Website: frumtak.is
3. Brunnur Ventures
A Reykjavik VC backing scalable B2B software teams.
Recent Activity: Backs early Icelandic high-growth startups
LinkedIn: Brunnur Ventures on LinkedIn
Sector Focus: B2B software, fintech, health
Stage Focus: Early-stage
Check Size: USD 1M-3M
Location: Reykjavik, Iceland
Website: brunnurventures.is
4. Eyrir Sprotar
An Icelandic seed fund backing industrial tech bets.
Recent Activity: A seed fund under Eyrir Venture Management
LinkedIn: Eyrir Venture Management on LinkedIn
Sector Focus: Industrial, tech
Stage Focus: Seed
Check Size: ~EUR 3M
Location: Reykjavik, Iceland
Website: eyrir.is
5. Kria (state seed fund)
Iceland's state seed fund that matches private money.
Recent Activity: Formed in 2025 to seed Icelandic startups
LinkedIn: Kria on LinkedIn
Sector Focus: Tech, life sciences
Stage Focus: Seed (matched)
Check Size: Up to ISK 100M w/ match
Location: Reykjavik, Iceland
Website: nyskopun.is
6. Iceland Venture Studio
A Reykjavik studio writing the first pre-seed cheques.
Recent Activity: Backs pre-seed Icelandic tech founders
LinkedIn: Iceland Venture Studio on LinkedIn
Sector Focus: Early tech, healthtech
Stage Focus: Pre-seed, seed
Check Size: $25K-200K
Location: Reykjavik, Iceland
Website: icelandventurestudio.com
Chase the funds that read it through
Ellty logs every open and page. Follow up first, not late.
Start free 14-day trial7. Transition VC
David Helgason's climate VC backing seed founders.
Recent Activity: Closed a $150M second fund in 2025
LinkedIn: Transition VC on LinkedIn
Sector Focus: Climate, deep tech
Stage Focus: Seed, Series A
Check Size: Seed-Series A
Location: Reykjavik and New York
Website: transitionvc.com
8. Technology Development Fund (Rannis)
Rannis grants backing early Icelandic R&D and tech.
Recent Activity: Funds deep-tech R&D with commercial potential
LinkedIn: Rannis on LinkedIn
Sector Focus: R&D, deep tech
Stage Focus: Grants
Check Size: Grants
Location: Reykjavik, Iceland
Website: rannis.is
9. KLAK - Icelandic Startups
Iceland's main accelerator and on-ramp to seed funds.
Recent Activity: Runs Gulleggid and Startup SuperNova
LinkedIn: KLAK on LinkedIn
Sector Focus: Sector-agnostic
Stage Focus: Accelerator
Check Size: ~$40K for 10%
Location: Reykjavik, Iceland
Website: klak.is
10. 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
11. Voima Ventures
A Nordic deep-tech VC backing science-based startups.
Recent Activity: Launched a EUR 90M deep-tech fund in 2025
LinkedIn: Voima Ventures on LinkedIn
Sector Focus: Deep tech, materials
Stage Focus: Seed
Check Size: EUR 1M-3M
Location: Helsinki and Nordics
Website: voimaventures.com
12. byFounders
A Nordic seed VC backed by serial founders.
Recent Activity: Backs Nordic and Baltic seed-stage founders
LinkedIn: byFounders on LinkedIn
Sector Focus: Seed tech, Nordics
Stage Focus: Seed
Check Size: EUR 500K-3M
Location: Copenhagen and Nordics
Website: byfounders.vc
13. Nordic Makers
A founder-led angel and seed collective in the Nordics.
Recent Activity: Founder-led collective backing Nordic seed
LinkedIn: Nordic Makers on LinkedIn
Sector Focus: Seed tech, founders
Stage Focus: Seed
Check Size: $100K-500K
Location: Copenhagen and Nordics
Website: nordicmakers.vc
What seed funds want to see
Seed funds in Iceland want signal, not just a story. Show revenue, retention or fast, steady user growth.
A few months of clean numbers beat a big forecast. Keep your metrics live and easy for funds to check.
Track every reader with a pitch deck tool. See who reads your data before they take a meeting.
Read our due diligence process guide early. Ready numbers win trust and speed up the whole round.
Tap public matching money
Iceland's state fund Kria matches your private money. That stretches every angel and VC cheque you raise.
Rannis grants also cover much of the early R&D work. Stack grants, matching and VC into one clean round.
Plan your fundraising stack before you pitch. Line up the local funds first, then the Nordic ones.
Keep backers posted with investor updates. Track who reads each update and then follow up fast.
Why Iceland seeds go global
Iceland's home market is far too small to scale in. Seed funds expect global ambition from the first day.
Unity, Kerecis and Controlant all scaled worldwide. Investors want to see that same path in your plan.
Ellty is built for venture capital raises. Share one global story from behind one tracked link.
Prep with our investor diligence checklist. Ready founders close their seed round much faster.
How to pitch a seed investor
Open with the traction you can prove today.
- 1.Open with the traction you can prove today.Lead with real numbers, not a grand vision.
- 2.Show a market many times bigger than Iceland.Seed funds here want global-scale potential.
- 3.Name the round size and your full runway plan.Tie every krona to one clear next milestone.
- 4.Prove your small team can build and sell fast.Founders win seed rounds more than ideas do.
- 5.Send one tracked Ellty link to your data room.See which fund reads it all the way through.
How Ellty helps you land a seed investor in Reykjavik
Your Reykjavik seed list is ready to use. Open a clean data room before the first fund call.
- 1.Upload your deck, financial model and metrics.Keep every seed file in one secure data 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 finish the whole deck first.
Reykjavik seed funding questions
- VCs like Crowberry and Frumtak. Plus public funds.
- Often $500k to $3m. Nordic funds can add more.
- Yes, Kria matches private money. Grants help too.
- Yes, Pale Blue Dot and byFounders do. They back seed.
- Traction and global ambition. Local-only rarely wins.
