Frumtak Ventures manages venture funds Frumtak 1 and Frumtak 2. The LPs of these funds are predominantly pension funds as well as some additional stakeholders in Iceland.
Frumtak 1 is fully invested. Frumtak 2 invests in early stage /early revenue companies that are post-seed and show great potential for growth. Frumtak Ventures has the objective to invest in companies that can become leaders in their field so they not only show good returns but contribute to improve the society in which they operate.
Frumtak Ventures invests in entities in Iceland and has the ability to invest abroad as a part of the expansion of its portfolio companies internationally. The venture firm does not have a specific industry focus. However, it investments in companies that show great growth potential in specific industry sectors.
Frumtak 1 is fully invested. Frumtak 2 invests in early stage /early revenue companies that are post-seed and show great potential for growth. Frumtak Ventures has the objective to invest in companies that can become leaders in their field so they not only show good returns but contribute to improve the society in which they operate.
Frumtak Ventures invests in entities in Iceland and has the ability to invest abroad as a part of the expansion of its portfolio companies internationally. The venture firm does not have a specific industry focus. However, it investments in companies that show great growth potential in specific industry sectors.
Location: Iceland, Reykjavik
Employees: 1-10
Phone:+354 510 1850
Founded date: 2008
Investment Type: Venture Capital
Investment Stage: Pre-Seed; Seed; Series A
Portfolio 14
| Date | Name | Website | Total Raised | Location |
| 16.12.2025 | MyDello | mydello.com | $4.95M | Estonia |
| 12.11.2025 | Euler | euler3d.com | $2.34M | Iceland |
| 03.02.2022 | Ankeri | ankeri.net | $2.33M | Iceland, R... |
| 05.01.2022 | Spectaflow | spectaflow.com | $1.92M | Iceland, C... |
| 15.12.2021 | PLAIO | plaio.io | $2.25M | - |
| 01.02.2017 | Sidekick H... | sidekickhealth.com | $76.5M | Sweden, Go... |
| - | Handpoint | handpoint.com | - | United Kin... |
| - | Kaptio Tra... | kaptio.com | - | Iceland, K... |
| - | Data Dwell | datadwell.com | $1.1M | Canada, On... |
| - | Meniga | meniga.com | $15.46M | United Kin... |
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Persons 2
| Date | First Name | Last Name | Title | Location | |||
| - | Eggert | Claessen | Partner Em... | linkedin.c... | - | - | - |
| - | Andri | Heiðar Kri... | Partner | linkedin.c... | - | - | - |
Mentions in press and media 31
| Date | Title | Description |
| 17.12.2025 | Estonian FreightTech MyDello Secures €3.1M for Global Logistics Dominance | Estonian FreightTech MyDello secures €3.1M, fueling aggressive global expansion, initially targeting the UK. This capital also boosts AI integration for enhanced operational automation by late 2026. MyDello's digital platform revolutionizes... |
| 16.12.2025 | MyDello receives €3.1M to support international expansion | Tallinn-based logistics startup MyDello has raised €3.1 million in a funding round led by Icelandic venture capital firm Frumtak Ventures, with participation from existing investor Finnish early-stage venture capital firm Superhero Capital.... |
| 12.11.2025 | Euler closes €2M to scale AI-powered software for 3D printing | Euler, the Icelandic software startup, has closed a €2 million seed funding round co-led by Iceland’s Frumtak Ventures and Nordic industrial tech investor Kvanted. Frumtak Ventures Partner Ásthildur Otharsdóttir and Kvanted Partner Eerik Pa... |
| 11.11.2025 | Euler Closes €2 Million Seed Round to Scale AI Fault Detection in 3D Printing | Euler, an Icelandic startup developing artificial-intelligence software for real-time fault detection in 3D printing, has raised €2 million in seed funding to accelerate commercialization. The round was co-led by Frumtak Ventures, an Icelan... |
| 09.04.2025 | Icelandic startup Optise secures $2.2M for website analytics platform | Optise, an Icelandic startup, has secured $2.2M in Pre-Seed funding to accelerate the development of its AI-powered website analytics platform designed specifically for B2B companies. It leverages AI to optimise the performance of websites.... |
| 18.10.2024 | The Rise of Moombix: Revolutionizing Music Education in a Digital Age | In a world where music is often sidelined, Moombix emerges as a beacon of hope. This Reykjavik-based platform is not just another online learning tool; it’s a revolution in music education. With a recent funding boost of €2.27 million, Moom... |
| 18.10.2024 | Moombix Strikes a Chord: Revolutionizing Music Education Online | In a world where music education often feels like a distant dream for adults, Moombix is changing the tune. This Reykjavik-based platform has just secured €2.27 million in seed funding, a significant boost that will help it scale its online... |
| 17.10.2024 | Reykjavik-based Moombix raises €2.27 million to scale its online music learning platform | Moombix, a music education platform enabling adult hobbyists and those with professional aspirations to have one-on-one online classes with expert teachers – offering instrument learning, voice coaching, DJing, as well as production and pub... |
| 15.08.2024 | Revolutionizing Pharma: PLAIO's €4.3 Million Leap into AI-Driven Supply Chains | In the heart of Reykjavik, a quiet revolution is brewing. PLAIO, an Icelandic startup, has secured €4.3 million in funding to reshape the pharmaceutical supply chain landscape. This investment, led by Iðunn, a venture capital fund, marks a ... |
| 14.08.2024 | Iceland's PLAIO raises €4.3M for AI-driven pharma supply chain solutions | Iceland-founded AI-assisted decision support platform for the pharmaceutical industry PLAIO has raised €4.3 million in an oversubscribed round. The company was co-founded by industry veterans and academics with over 25 years of experience i... |
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