Seed Funded Startups in Iceland
Nineteen seed rounds span from 2021-10-13 (Ankeri Solutions) through 2025-11-12 (Euler), with the most recent two closing within the same week: Euler ($2M…
Nineteen seed rounds span from 2021-10-13 (Ankeri Solutions) through 2025-11-12 (Euler), with the most recent two closing within the same week: Euler ($2M on 2025-11-12) and Rexby ($2M on 2025-11-08). Disclosed seed amounts cluster tightly between $800K and $5M, where PLAIO’s $5M (2024-08-14) is the only disclosed round at the $5M level, while the next-largest disclosed amounts are $4M (Abler, 2022-09-15) and $3M rounds (Moombix 2024-10-17, Porcelain Fortress 2024-09-24, Rocky Road 2023-09-21, etc.).
City and sector patterns are also concentrated. All listings are in Reykjavík (either as the only city field or alongside Gullbringusysla), with the broader location repeating as “Reykjavík, Gullbringusysla” for most entries. Sector repetition is visible as well: Gaming appears in three seed rounds (Porcelain Fortress $3M on 2024-09-24, Rocky Road $3M on 2023-09-21, Arctic Theory $2M on 2022-03-09), alongside multiple Software entries (e.g., Glaze $1M on 2023-03-13; Euler is 3D/AI in B2B Software and $2M on 2025-11-12).
Most recent rounds
19 shownRelated listings
Frequently asked
What’s the largest disclosed seed round in this Iceland list, and how different is it from the rest?
PLAIO’s $5M seed round on 2024-08-14 is the top disclosed amount here. Most other disclosed rounds sit below that, with the next-largest at $4M (Abler on 2022-09-15) and multiple rounds clustered at $2M–$3M (e.g., Moombix $3M on 2024-10-17; Rocky Road $3M on 2023-09-21).
Are there temporal clusters among these 19 seed rounds?
Yes. Four rounds close within about seven months in 2022: Abler ($4M) on 2022-09-15, Overtune ($2M) on 2022-07-01, 3Z Pharmaceuticals ($2M) on 2022-06-20, and Empower ($2M) plus 50skills ($3M) in May 2022 (2022-05-18 and 2022-05-13). Another noticeable cluster runs through late 2023 into 2024, including Flygildi ehf $2M (2023-09-26), Rocky Road $3M (2023-09-21), and then PL AIO $5M (2024-08-14) plus Moombix $3M (2024-10-17).
Is Reykjavík over-represented geographically, or do other cities show up frequently?
Reykjavík dominates the geography in these 19 rows. Every entry lists Reykjavík in the city field (either alone, as with Rexby and Euler, or paired as “Reykjavík, Gullbringusysla” for most others), with no alternate cities repeating independently.
Which sectors repeat most often, and where do the biggest rounds land within those sectors?
Gaming repeats three times: Porcelain Fortress ($3M on 2024-09-24), Rocky Road ($3M on 2023-09-21), and Arctic Theory ($2M on 2022-03-09). Software also appears multiple times (Glaze $1M on 2023-03-13; Euler is labeled B2B Software and raised $2M on 2025-11-12), but the largest disclosed single round in the dataset is in Health Care via PLAIO at $5M (2024-08-14).
Are any entries outliers on size within the disclosed range?
LearnCove is the low-end outlier at $800K on 2022-01-25, well below the many $2M–$3M rounds (e.g., Euler $2M on 2025-11-12; Glaze $1M on 2023-03-13; Abler $4M on 2022-09-15). On the high end, PLAIO’s $5M (2024-08-14) stands above the rest, with $4M (Abler) and $3M rounds forming the next tier.
Which rounds fall closest to the current edge of the listing, and do they follow the same amount pattern?
The most recent dates are in November 2025: Euler ($2M on 2025-11-12) and Rexby ($2M on 2025-11-08), with the next most recent entry at $1M on 2025-04-04 (Evolytes). The two freshest rounds both disclose $2M, matching the dataset’s common $2M level.
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