Recently Funded Startups in Iceland (Nov-2025)
Last Updated: 21-Nov-2025
Iceland’s startup ecosystem has seen notable development over the past few years, showcasing a dynamic range of innovative companies that are making a mark both locally and internationally. With a total of 47 startups currently tracked, the vibrant landscape is supported by a community of entrepreneurs who are increasingly attracting funding from various investors. This momentum in funding is crucial for startups, enabling them to scale operations, enhance their products, and ultimately contribute to the country’s economic growth.
As we close out November 2025, the recent funding landscape reveals that five startups have secured investments this year, with a total funding amount reaching an impressive $235.75 million. The financial services sector is leading the charge, exemplified by Kvika’s remarkable deal of $227.4 million. Additionally, sectors such as travel and technology, particularly in areas like 3D, artificial intelligence, and B2B software, continue to attract interest, indicating a diverse and evolving startup ecosystem that holds promise for further innovation.
Funding Highlights
- Total number of startups tracked: 47
- Number of startups that raised funding last year: 8
- Number of startups that raised funding this year: 5
- Total funding raised this year so far: $235.75 million
- Largest deal: Kvika, Series Unknown, $227.4 million
- Top industries by funding amount: Financial Services ($227.4 million), Travel ($2.44 million), 3D, Artificial Intelligence, B2B Software, Manufacturing ($2.31 million)
- Top industries by number of deals this year: 3D, Artificial Intelligence, B2B Software, Manufacturing (1 deal), Apps (1 deal), Artificial Intelligence (AI) (1 deal)
Full List of Recently Funded Startups in Iceland
| Company | City | Country | Round | Amount | Date | Industry |
|---|---|---|---|---|---|---|
| Euler | Hafnarfjörður | Iceland | Seed | $2,313,754 | 2025-11-12 | 3D, Artificial Intelligence (AI), B2B Software, Manufacturing |
| Rexby | Reykjavík | Iceland | Seed | $2,444,208 | 2025-11-08 | Travel |
| 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 (AI) |
| Oculis | Reykjavík | Iceland | Series Unknown | $40.3M | 2023-06-01 | Biotechnology |
| Glaze | Reykjavík | Iceland | Seed | $1.1M | 2023-03-13 | Software |
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 raised funding this year and how much did they raise?
Five startups raised funding in Iceland this year, totaling USD 235.75 million.
Q4. Which industries are trending among recently funded startups in Iceland?
Financial Services dominates by funding (USD 227.4M), followed by Travel (USD 2.44M) and a group of 3D, AI, B2B software, and Manufacturing (USD 2.31M); deal activity is concentrated in 3D/AI/B2B software/Manufacturing, Apps, and AI (one deal each).
Q5. What was the largest recent funding deal in Iceland?
Kvika raised the largest deal at USD 227.4 million (series unknown).
