Recently Funded Startups in Iceland (Aug-2025)
Last Updated: 28-Aug-2025
Iceland’s startup ecosystem has been gaining momentum in recent years, demonstrating its potential to emerge as a vibrant hub for innovation. With an increasing number of entrepreneurs and innovators, the country is fostering a diverse landscape where technology and creativity converge. The startup scene is supported by a strong emphasis on sustainability and digital transformation, which resonates well with global trends and investor interest.
Funding is a crucial catalyst for the growth of startups, enabling them to scale operations, develop products, and expand their market reach. In 2025, the Icelandic startup landscape has already seen impressive funding activity, particularly in sectors like financial services and artificial intelligence. This surge in financial backing not only illustrates the confidence investors have in Iceland’s entrepreneurial spirit but also highlights the potential for significant economic impact in the coming years.
Funding Highlights
- Total number of startups tracked: 22
- Number of startups that raised funding last year: 8
- Number of startups that raised funding this year: 3
- Total funding raised this year so far: $231,000,000
- Largest deal: Kvika, Series Unknown, $227,400,000
- Top industries by funding amount:
- Financial Services: $227,400,000
- Artificial Intelligence (AI): $2,200,000
- Apps: $1,400,000
- Top industries by number of deals this year:
- Apps: 1 deal
- Artificial Intelligence (AI): 1 deal
- Financial Services: 1 deal
Full List of Recently Funded Startups in Iceland
| Company | City | Country | Round | Amount | Date | Industry |
|---|---|---|---|---|---|---|
| Kvika | Reykjavík | Iceland | Series Unknown | $227.4M | 2025-05-23 | Financial Services |
| Optise | Reykjavík | Iceland | Pre-Seed | $2.2M | 2025-04-09 | Artificial Intelligence (AI) |
| Evolytes | Reykjavík | Iceland | Seed | $1.4M | 2025-04-04 | Apps |
| Kaptio | Kópavogur | Iceland | Series Unknown | $2.5M | 2024-12-06 | Information Technology |
| Moombix | Reykjavík | Iceland | Seed | $2.5M | 2024-10-17 | Education |
| Porcelain Fortress | Reykjavík | Iceland | Seed | $3M | 2024-09-24 | Gaming |
| Treble | Reykjavík | Iceland | Series A | $12.2M | 2024-09-03 | Hardware |
| PLAIO | Reykjavík | Iceland | Seed | $4.7M | 2024-08-14 | Health Care |
| Hefring Marine | Reykjavík | Iceland | Series Unknown | $2.4M | 2024-05-22 | Internet Services |
| PLAY | Reykjavík | Iceland | Series Unknown | $32.1M | 2024-04-11 | Transportation |
| KuraTech | Reykjavík | Iceland | Undisclosed | 2024-03-05 | Software | |
| Flygildi ehf | Reykjavík | Iceland | Seed | $2.2M | 2023-09-26 | Consumer Electronics |
| Rocky Road | Reykjavík | Iceland | Seed | $3M | 2023-09-21 | Gaming |
| Controlant | Reykjavík | Iceland | Series Unknown | $39.8M | 2023-09-14 | Internet Services |
| Travelshift | Reykjavík | Iceland | Series Unknown | $10M | 2023-08-29 | Commerce and Shopping |
| DTE ehf | Reykjavík | Iceland | Series A | $10M | 2023-06-19 | Artificial Intelligence |
| Oculis | Reykjavík | Iceland | Series Unknown | $40.3M | 2023-06-01 | Biotechnology |
| Glaze | Reykjavík | Iceland | Seed | $1.1M | 2023-03-13 | Software |
| Tulipop | Reykjavík | Iceland | Series Unknown | $1.8M | 2023-03-11 | Commerce and Shopping |
| Oculis | Reykjavík | Iceland | Series Unknown | $91M | 2023-03-03 | Biotechnology |
| LearnCove | Reykjavík | Iceland | Series Unknown | $912.7K | 2023-01-24 | Software |
| Genis | Siglufjörður | Iceland | Series Unknown | $17M | 2022-12-18 | Biotechnology |
Frequently Asked Questions
Q1. Where can I find recently funded startups in Iceland?
You can explore our full list of startups that raised funding this month above. You can also subscribe to our free plan to get weekly alerts.
Q2. How can I connect with these startups in Iceland?
You can subscribe to our premium plan for verified CEO and decision-maker contacts.
Q3. How many startups in Iceland were funded this year and last year?
In Iceland, 3 startups raised funding so far this year and 8 raised funding last year; we track 22 startups in total.
Q4. Which industries are trending among recently funded startups in Iceland?
Financial Services dominates funding ($227,400,000), followed by Artificial Intelligence ($2,200,000) and Apps ($1,400,000); each of Apps, AI and Financial Services recorded one deal this year.
Q5. What are the total funding figures for recently funded startups in Iceland this year?
Total funding in Iceland this year so far is $231,000,000, driven largely by the $227,400,000 Kvika deal; three startups raised funding this year.
