# Top 45 Startups in Iceland by Funding (2026)

> The 45 best-funded startups in Iceland, ranked by total funding raised: $1.1B combined. With founding year, headquarters and each company's rounds.

Source: https://millionrounds.com/top-lists/startups-iceland (Millionrounds; every figure on the page links to its filing or article)

- 1 [**Alvotech** Alvotech is a biotechnology company that specializes in making biosimilars to create biologic medicines.](https://millionrounds.com/company/alvotech) Alvotech is a biotechnology company that specializes in making biosimilars to create biologic medicines. *Founded* 2013 Reykjavik, Iceland **$465M** last round Jun 2026
- 2 [**Artic Energy**](https://millionrounds.com/company/artic-energy) *Founded* - Iceland **$150M** last round Apr 2018
- 3 [**LAXEY** LAXEY specializes in sustainable land-based aquaculture and the development of fish farming facilities.](https://millionrounds.com/company/laxey) LAXEY specializes in sustainable land-based aquaculture and the development of fish farming facilities. *Founded* 2021 Vestmannaeyjar, Iceland **$87M** last round Jun 2026
- 4 [**CCP Games** Fenris Creations is a leading game developer recognized for building deep, player-driven virtual worlds shaped by freedom, conflict, and community.](https://millionrounds.com/company/ccp-games) Fenris Creations is a leading game developer recognized for building deep, player-driven virtual worlds shaped by freedom, conflict, and community. *Founded* 1997 Reykjavik, Iceland **$66M** last round Nov 2015
- 5 [**Euler** Euler provides an AI investment research app and financial services.](https://millionrounds.com/company/euler) Euler provides an AI investment research app and financial services. *Founded* 2017 Iceland **$36M** last round Aug 2026
- 6 [**Meniga**](https://millionrounds.com/company/meniga) *Founded* - Iceland **$34M** last round Dec 2023
- 7 [**Arctic Therapeutics** Arctic Therapeutics is a clinical-stage biopharmaceutical company based in Reykjavík, Iceland, founded in 2015.](https://millionrounds.com/company/arctic-therapeutics) Arctic Therapeutics is a clinical-stage biopharmaceutical company based in Reykjavík, Iceland, founded in 2015. *Founded* 2015 Philadelphia, Iceland **$28M** last round Jan 2025
- 8 [**EpiEndo Pharmaceuticals** EpiEndo Pharmaceuticals is a clinical biopharmaceutical company focused on novel solutions for chronic airway diseases.](https://millionrounds.com/company/epiendo-pharmaceuticals) EpiEndo Pharmaceuticals is a clinical biopharmaceutical company focused on novel solutions for chronic airway diseases. *Founded* 2014 Reykjavik, Iceland **$23M** last round Aug 2021
- 9 [**Kerecis** Kerecis is a commercial stage company pioneering the use of fish skin and fatty acids in cellular-therapy and regenerative-medicine](https://millionrounds.com/company/kerecis) Kerecis is a commercial stage company pioneering the use of fish skin and fatty acids in cellular-therapy and regenerative-medicine *Founded* 2009 Isafjordur, Iceland **$20M** last round Jun 2019
- 10 [**GRID**](https://millionrounds.com/company/grid) *Founded* - Iceland **$20M** last round Feb 2024
- 11 [**Treble**](https://millionrounds.com/company/treble) *Founded* - Iceland **$18M** last round Sept 2026
- 12 [**Lucinity** Lucinity is a global Software-as-a-Service (SaaS) company founded in 2018 and based in Reykjavík, Iceland.](https://millionrounds.com/company/lucinity) Lucinity is a global Software-as-a-Service (SaaS) company founded in 2018 and based in Reykjavík, Iceland. *Founded* 2018 Reykjavik, Iceland **$17M** last round Jul 2022
- 13 [**Teatime Games** Teatime Games is an Iceland-based gaming startup that reinvents social games.](https://millionrounds.com/company/teatime-games) Teatime Games is an Iceland-based gaming startup that reinvents social games. *Founded* 2017 Reykjavik, Iceland **$17M** last round May 2018
- 14 [**Activity Stream** Activity Stream makes client's organization better by turning business data into actionable intelligence and insights.](https://millionrounds.com/company/activity-stream) Activity Stream makes client's organization better by turning business data into actionable intelligence and insights. *Founded* 2013 Reykjavik, Iceland **$16M** last round Jan 2024
- 15 [**Eve.com** EVE offers massively multiplayer online roleplaying games.](https://millionrounds.com/company/eve-com) EVE offers massively multiplayer online roleplaying games. *Founded* 1998 Iceland **$14M** last round Sept 2010
- 16 [**Smitten** Smitten is a dating app that offers creative games, interactive profiles, and icebreakers for its users.](https://millionrounds.com/company/smitten) Smitten is a dating app that offers creative games, interactive profiles, and icebreakers for its users. *Founded* 2020 Iceland **$10M** last round Sept 2022
- 17 [**Travelshift** Travelshift is an Icelandic online travel agency and technology provider that specializes in AI-driven travel solutions for the leisure market.](https://millionrounds.com/company/travelshift) Travelshift is an Icelandic online travel agency and technology provider that specializes in AI-driven travel solutions for the leisure market. *Founded* 2012 Reykjavik, Iceland **$10M** last round Aug 2023
- 18 [**Laki Power** Laki Power is an Icelandic research and development company based in Reykjavík, specializing in grid-enhancing solutions for the utility sector.](https://millionrounds.com/company/laki-power) Laki Power is an Icelandic research and development company based in Reykjavík, specializing in grid-enhancing solutions for the utility sector. *Founded* 2015 Reykjavik, Iceland **$9.9M** last round Sept 2026
- 19 [**1939 Games** 1939 Games is an independent game development studio based in Reykjavík, Iceland, founded in 2015 by brothers Ívar and Guðmundur Kristjánsson.](https://millionrounds.com/company/1939-games) 1939 Games is an independent game development studio based in Reykjavík, Iceland, founded in 2015 by brothers Ívar and Guðmundur Kristjánsson. *Founded* 2015 Reykjavik, Iceland **$8.9M** last round Sept 2021
- 20 [**TripCreator** TripCreator is a travel management software and white-label itinerary creation platform tailored for professional travel businesses.](https://millionrounds.com/company/tripcreator) TripCreator is a travel management software and white-label itinerary creation platform tailored for professional travel businesses. *Founded* 2013 Reykjavik, Iceland **$8.0M** last round Sept 2018
- 21 [**Kara Connect** Kara Connect is a Nordic, female-founded platform focused on mental health and employee wellbeing.](https://millionrounds.com/company/kara-connect) Kara Connect is a Nordic, female-founded platform focused on mental health and employee wellbeing. *Founded* 2015 Reykjavik, Iceland **$6.3M** last round May 2022
- 22 [**50skills** 50skills is an Icelandic HR SaaS company that focuses on enhancing employee onboarding and automating HR workflow processes for enterprise employers, especially](https://millionrounds.com/company/50skills) 50skills is an Icelandic HR SaaS company that focuses on enhancing employee onboarding and automating HR workflow processes for enterprise employers, especially *Founded* 2017 Kopavogur, Iceland **$6.0M** last round Sept 2026
- 23 [**Authenteq**](https://millionrounds.com/company/authenteq) *Founded* - Iceland **$5.0M** last round Jan 2019
- 24 [**Abler** Abler is a sports and team technology company based in Reykjavík, Iceland.](https://millionrounds.com/company/abler) Abler is a sports and team technology company based in Reykjavík, Iceland. *Founded* 2017 Reykjavik, Iceland **$3.7M** last round Sept 2022
- 25 [**Rexby** Rexby is a travel-tech company founded in 2021, based in Reykjavík, Iceland.](https://millionrounds.com/company/rexby) Rexby is a travel-tech company founded in 2021, based in Reykjavík, Iceland. *Founded* 2021 Reykjavik, Iceland **$2.4M** last round Nov 2025
- 26 [**Hefring Marine** An Icelandic deep-tech company building AI to enhance fuel efficiency, reduce carbon emissions and improve safety for boat operations.](https://millionrounds.com/company/hefring-marine) An Icelandic deep-tech company building AI to enhance fuel efficiency, reduce carbon emissions and improve safety for boat operations. *Founded* 2018 Reykjavik, Iceland **$2.4M** last round May 2024
- 27 [**Alda** Alda is a SaaS platform dedicated to promoting inclusive workplace cultures through data-driven insights and AI-powered tools.](https://millionrounds.com/company/alda) Alda is a SaaS platform dedicated to promoting inclusive workplace cultures through data-driven insights and AI-powered tools. *Founded* 2022 Reykjavik, Iceland **$2.3M** last round May 2022
- 28 [**Silent Flyer** The Silent Flyer autonomous bird-like device has wings that can morph during flight and fold to the body.](https://millionrounds.com/company/silent-flyer) The Silent Flyer autonomous bird-like device has wings that can morph during flight and fold to the body. *Founded* 2008 Iceland **$2.2M** last round Sept 2023
- 29 [**Monerium** Monerium is a financial technology company based in Reykjavik, Iceland, that combines fiat currency with blockchain technology to facilitate secure and regulate](https://millionrounds.com/company/monerium) Monerium is a financial technology company based in Reykjavik, Iceland, that combines fiat currency with blockchain technology to facilitate secure and regulate *Founded* 2017 Reykjavik, Iceland **$2.0M** last round Sept 2021
- 30 [**Overtune** Overtune is an Iceland-based music technology startup founded in 2020.](https://millionrounds.com/company/overtune) Overtune is an Iceland-based music technology startup founded in 2020. *Founded* 2020 Reykjavik, Iceland **$2.0M** last round Jul 2022
- 31 [**Advise** Advise is a Dublin-based analytics company specializing in consumer packaged goods (CPG).](https://millionrounds.com/company/advise) Advise is a Dublin-based analytics company specializing in consumer packaged goods (CPG). *Founded* 2016 Iceland **$1.6M** last round Jan 2025
- 32 [**DataMarket** DaaS platform from Spain.](https://millionrounds.com/company/datamarket) DaaS platform from Spain. *Founded* 2021 Iceland **$1.2M** last round Aug 2011
- 33 [**Memento Payments** Memento Payments is a fintech company founded in 2014 that offers a scalable SaaS platform for creating customizable digital wallet and card management applications.](https://millionrounds.com/company/memento-payments) Memento Payments is a fintech company founded in 2014 that offers a scalable SaaS platform for creating customizable digital wallet and card management applications. *Founded* 2014 Reykjavik, Iceland **$1.2M** last round Sept 2022
- 34 [**GreenBytes** GreenBytes is a sustainable kitchen management software company based in Iceland.](https://millionrounds.com/company/greenbytes) GreenBytes is a sustainable kitchen management software company based in Iceland. *Founded* 2020 Reykjavik, Iceland **$980K** last round Sept 2022
- 35 [**Kaptio** Kaptio is a global ResTech company that specializes in reservation technology for the travel industry.](https://millionrounds.com/company/kaptio) Kaptio is a global ResTech company that specializes in reservation technology for the travel industry. *Founded* 2012 Kopavogur, Iceland **$890K** last round Jan 2015
- 36 [**Florealis** Florealis is a pharmaceutical company located in Reykjavik, Iceland, established in 2013.](https://millionrounds.com/company/florealis) Florealis is a pharmaceutical company located in Reykjavik, Iceland, established in 2013. *Founded* 2013 Reykjavik, Iceland **$751K** last round Jan 2020
- 37 [**Glaze** Glaze is an AI powered E-commerce platform for premium fashion clothing brands.](https://millionrounds.com/company/glaze) Glaze is an AI powered E-commerce platform for premium fashion clothing brands. *Founded* 2023 Iceland **$500K** last round Sept 2023
- 38 [**GemmaQ** Gender-lens for Global Markets.](https://millionrounds.com/company/gemmaq) Gender-lens for Global Markets. *Founded* 2019 Reykjavík, Iceland **$400K** last round May 2022
- 39 [**Atlas Primer** Atlas Primer is a Education And Technology Platform.](https://millionrounds.com/company/atlas-primer) Atlas Primer is a Education And Technology Platform. *Founded* 2019 Reykjavík, Iceland **$300K** last round Jan 2023
- 40 [**Loki Foods** Loki Foods is an Icelandic food technology startup founded in 2022, specializing in sustainable, plant-based Arctic seafood.](https://millionrounds.com/company/loki-foods) Loki Foods is an Icelandic food technology startup founded in 2022, specializing in sustainable, plant-based Arctic seafood. *Founded* 2022 Reykjavik, Iceland **$200K** last round Oct 2022
- 41 [**Mailpile** Mailpile provides online email services and a saving feature in an internet server mailbox with encryption and privacy features.](https://millionrounds.com/company/mailpile) Mailpile provides online email services and a saving feature in an internet server mailbox with encryption and privacy features. *Founded* 2013 Reykjavik, Iceland **$163K** last round Sept 2013
- 42 [**Sundra** Sundra is a software company based in Reykjavík, Iceland, founded in 2022.](https://millionrounds.com/company/sundra) Sundra is a software company based in Reykjavík, Iceland, founded in 2022. *Founded* 2022 Reykjavik, Iceland **$100K** last round Feb 2026
- 43 [**Fisheries Technologies** Fisheries Technologies is an Icelandic company specializing in the field of fisheries management on a governmental level.](https://millionrounds.com/company/fisheries-technologies) Fisheries Technologies is an Icelandic company specializing in the field of fisheries management on a governmental level. *Founded* 2012 Reykjavík, Iceland **$59K** last round Dec 2017
- 44 [**Admittor** The company's Admittor Admissions Management System utilizes cutting-edge web technology to provide a holistic solution that saves time for applicants and admis](https://millionrounds.com/company/admittor) The company's Admittor Admissions Management System utilizes cutting-edge web technology to provide a holistic solution that saves time for applicants and admis *Founded* 2011 Reykjavik, Iceland **$19K** last round Sept 2010
- 45 [**SuitMe** SuitMe specializes in intelligent software solutions for online fashion.](https://millionrounds.com/company/suitme) SuitMe specializes in intelligent software solutions for online fashion. *Founded* 2014 Iceland **$16K** last round Jun 2014

**Total funding** how the list is ranked

**15 November 2026** updated nightly

**Rounds we track** source: Millionrounds

Every startup we hold in Iceland, ranked by the total it has raised in rounds we hold. Nobody pays to be on a list.

## Who backed them?

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## More startup lists

[See all](https://millionrounds.com/top-lists?t=All%20startups)

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