Series Unknown Funded Startups in Iceland
Among these 10 most recent “Series Unknown” funded startups in Iceland, Kvika’s $227M round on 2025-05-23 dwarfs the rest of the disclosed amounts; the nex…
Among these 10 most recent “Series Unknown” funded startups in Iceland, Kvika’s $227M round on 2025-05-23 dwarfs the rest of the disclosed amounts; the next-largest disclosed rounds are Controlant ($40M on 2023-09-14) and Oculis ($40M on 2023-06-01), with PLAY at $32M (2024-04-11). The list also shows a tight geographic pattern: all 10 are based in Reykjavík (8 entries) or within Icelandic regional municipalities (Kópavogur for Kaptio and Reykjavík for most others; Siglufjörður for Genis).
Sector clustering is visible across the disclosed rounds: Biotechnology appears 2 times (Oculis $40M on 2023-06-01; Genis $17M on 2022-12-18) and Internet Services appears 2 times (Hefring Marine $2M on 2024-05-22; Controlant $40M on 2023-09-14), while “Commerce and Shopping” appears 2 times (Travelshift $10M on 2023-08-29; Tulipop $2M on 2023-03-11). Temporally, the disclosed rounds span 2022-12-18 (Genis) through 2025-05-23 (Kvika), with the most recent 12 months including multiple large rounds such as PLAY ($32M) and Kaptio ($3M).
Most recent rounds
10 shownRelated listings
Frequently asked
What’s the largest disclosed “Series Unknown” round in this Iceland list, and how much bigger is it than the rest?
Kvika’s $227M round (2025-05-23) is an outlier in disclosed size; the next-largest disclosed amounts are $40M (Controlant on 2023-09-14 and Oculis on 2023-06-01), with PLAY at $32M (2024-04-11).
Do the rounds cluster around a specific city or geography?
Reykjavík dominates this set with 8 of 10 entries, including Kvika ($227M on 2025-05-23) and major rounds like Controlant ($40M on 2023-09-14) and PLAY ($32M on 2024-04-11). The remaining entries are Kaptio in Kópavogur ($3M on 2024-12-06) and Genis in Siglufjörður ($17M on 2022-12-18).
Which entries closed most recently (e.g., within the last 90 days of the newest date shown)?
Using the newest round date shown (2025-05-23), only Kvika (2025-05-23; $227M) falls within the following 90-day window through 2025-08-21, since the next-most-recent listed round is Kaptio on 2024-12-06 ($3M).
Is there a sector over-represented among these “Series Unknown” rounds?
No single sector appears more than 2 times in the 10-row slice. Internet Services shows up twice (Controlant $40M on 2023-09-14; Hefring Marine $2M on 2024-05-22), Biotechnology twice (Oculis $40M on 2023-06-01; Genis $17M on 2022-12-18), and Commerce and Shopping twice (Travelshift $10M on 2023-08-29; Tulipop $2M on 2023-03-11).
Are there notable outliers on the low end, not just the high end?
Yes. At the low end, LearnCove raised $910K on 2023-01-24, which sits below the other sub-$2M amounters such as Hefring Marine at $2M (2024-05-22) and Tulipop at $2M (2023-03-11).
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