Frumtak Ventures invests in teams and ideas that solve real-world problems and reinforces Iceland&s;s reputation for profitable innovation.
Business Model:
Revenue: $10M
Employees: 2-10
Address: Kringlan 7
City: Reykjavík
State: other
Zip: 103
Country: IS
Frumtak (a.k.a. Frumtak Investment Fund, Frumtak I, Frumtak 1) was founded December 23rd. 2008. The objective was to invest in early stage growth companies that were post seed and had growth potential. This would result in leading companies that could deliver a good return to investors. At the close of Frumtak‘s investment period on December 31st. 2012, the fund had invested in fifteen companies with nine investments still active. The remainder of lifetime of the fund is used to follow on investments and divest assets. Frumtak Ventures (Frumtak II, Frumtak 2) started in February 2015. The fund builds on the legacy of Frumtak 1. The fund invests in early stage innovative companies that are post seed and show great potential for growth. The fund invests primarily in Iceland but is allowed to invest abroad as allowed by law in connection with its portfolio investments to ensure success in foreign markets. Frumtak II emphasizes to invest in companies where growth and sales in foreign markets are the primary objective, but does not specialize in any particular industry. The fund wants to ensure that original ideas get a chance and thereby increasing the probability of creating growth and value. By doing this, it enforces the image that Icelandic innovation is profitable. Frumtak II aspires to be a trusted and popular ally. The fund strives to have a good relationship and co-operation with all stakeholders within the start-up and innovation community. The fund puts a special emphasis on co-operating with stakeholders outside Iceland.
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Announced Date | Company | Transaction | Money Raised |
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8/2016 | Meniga | Venture Round | 8.3M |
4/2017 | Meniga | Venture Round | 7.9M |
5/2022 | Sidekick Health | Series B | 0 |
3/2016 | Kaptio | Unattributed | 2.6M |
7/2013 | Meniga | Series A | 0 |
12/2015 | Watchboxapp | Seed Round | 380k |
1/2016 | Controlant | Funding Round | 2.5M |
2/2009 | Trackwell | Seed Round | - |
3/2017 | Sidekick Health | Seed Round | 1.5M |
10/2020 | Sidekick Health | Series A | 0 |
5/2020 | Meniga | Corporate Round | 0 |
9/2020 | Controlant | Series B | 0 |
8/2011 | DataMarket | Series A | 1.2M |
1/2022 | Spectaflow | Seed | 1.9M |
3/2021 | Meniga | Venture Round | 0 |
12/2022 | Treble | Seed Round | 5.8M |
7/2016 | Data Dwell | Seed Round | 1.1M |
1/2018 | Kaptio | Seed Round | 2.4M |
11/2010 | InfoMentor | Venture Round | - |
6/2016 | Tulipop ehf | Series A | 2M |
5/2022 | Empower | Seed Round | 2.3M |
12/2015 | Activity Stream | Seed Round | 2.1M |
2/2017 | Valka | Venture Round | - |
1/2020 | Controlant | Venture Round | 7.7M |
4/2013 | Cintamani | Venture Round | 2.7M |
4/2009 | AGR Dynamics | Funding Round | - |
10/2021 | Ankeri Solutions | Seed Round | 2.3M |
10/2015 | Arctic Trucks | Venture Round | 3.9M |
5/2022 | 50skills | Seed Round | 0 |
9/2022 | Abler | Seed Round | 3.7M |
8/2010 | MainManager | Venture Round | - |
12/2021 | PLAIO | Seed Round | 2.3M |
5/2022 | Empower | Seed Round | 0 |
5/2022 | 50skills | Seed Round | 0 |
5/2022 | Sidekick Health | Series B | 0 |
1/2022 | Spectaflow | Funding Round | 0 |
12/2021 | PLAIO | Seed Round | 0 |
10/2021 | Ankeri Solutions | Seed Round | 0 |
3/2021 | Meniga | Venture Round | 0 |
10/2020 | Sidekick Health | Series A | 0 |
9/2020 | Controlant | Series B | 0 |
5/2020 | Meniga | Corporate Round | 0 |
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