Iceland startup ecosystem
The directory currently lists 42 organisations across 3 cities.
Showing 1–20 of 42Iceland
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1939 Games
1939 Games is an independent game development studio founded in Reykjavik in 2015 by veterans of CCP Games. The studio developed KARDS, a free-to-play digital collectible card game set in World War II, which launched on Steam in 2019. KARDS blends traditional CCG mechanics with real-world historical units and strategies from the Second World War and has built a global player community.
50skills
50skills is a Reykjavik-based HR SaaS platform that streamlines the full employee journey — from hiring through onboarding, crossboarding and offboarding — in a single workspace. The platform centralises employee data, eliminates repetitive data entry across HR systems, and integrates with the tools employers already use. Founded in 2017, the company raised €2.5M from Frumtak Ventures in 2022 and has since grown to approximately 22 employees serving customers in over 20 countries. Major Icelandic clients include Icelandair, PLAY Airlines, IKEA, Vodafone, Securitas and Domino's. The company reported $2.1M in annual revenue in 2024.
Alda
Alda is an Icelandic HR-tech startup founded in 2022 that provides a culture intelligence platform for measuring and improving workplace diversity, equity, and inclusion (DEI). The platform combines inclusion surveys, gamified micro-learning, AI-powered action plans, and real-time DEI dashboards. Alda has raised €2.9 million from Frumtak Ventures and Tennin, and counts Aker Solutions, Icelandair, and Avalanche Studios among its clients. It was named a Gartner Cool Vendor in 2025.
Algalíf
Algalíf is an Icelandic biotechnology company founded in 2012 that produces high-grade natural astaxanthin from microalgae using 100% renewable geothermal energy in a fully enclosed indoor photobioreactor system. The company is certified carbon-negative, binding 75 tonnes of CO2 annually, and holds over $50M in cumulative investment. In 2025 Algalíf launched Astalíf 15, the world's first 15% natural astaxanthin oleoresin, and broke ground on the world's largest natural astaxanthin facility (12,500 m²). The board initiated IPO preparations for 2025 and appointed new leadership following the departure of long-serving CEO Orri Björnsson.
Arctic Circle Assembly 2026
The largest annual international gathering on Arctic affairs, held at Harpa with governments, academia, NGOs, Indigenous representatives and private-sector stakeholders. Strong tracks on climate, clean energy, ocean tech and Arctic innovation.
Atmonia
Atmonia is developing a breakthrough electro-catalytic process for synthesising ammonia directly from air, water and renewable electricity at ambient temperature and pressure — with zero carbon emissions. Its precious-metal-free catalyst technology, protected by multiple patents, could disrupt the conventional Haber-Bosch process that accounts for roughly 2% of global CO2 emissions. Founded in 2016, the company has raised $3M in equity alongside $10M in non-dilutive funding from sources including the Icelandic Research Fund, Technology Development Fund and Horizon Europe. Atmonia collaborates with Fujitsu on AI-accelerated catalyst development and leads the EU-funded VERGE project.
Brunnur Ventures
Brunnur Ventures is an early-stage venture capital firm founded in 2013 and focused on high-growth Icelandic startups. The firm backs scalable B2B software, gaming, biotech, cleantech, and marine-tech companies, writing initial seed cheques and following on through growth rounds. With around 34 portfolio companies, the firm has achieved notable exits including CCP Games and Oculis. Key partners include Founding Partner Sigurdur Arnljotsson and Managing Partner Arni Bloendal.
Carbfix
Carbfix dissolves captured CO2 in water and injects it into basalt rock formations, where it permanently mineralises into solid carbonate stone in under two years. Founded in 2007 as a joint research initiative by Reykjavik Energy, the University of Iceland, CNRS France, and Columbia University's Earth Institute, the company operates at the Hellisheiði geothermal power plant. In 2023 it secured a $117M EU grant and became the first company to receive an EU permit for onshore carbon capture & storage, with capacity for ~106,000 tonnes of CO2 per year. It was a WIPO Global Awards 2025 finalist and partners with Climeworks on the Mammoth DAC plant.
Carbon Recycling International
Carbon Recycling International (CRI) designs, licenses and sells its proprietary Emissions-to-Liquids (ETL) process technology for producing green methanol from captured CO2 emissions and green hydrogen. Founded in 2006 and operating at industrial scale since 2012, CRI is globally recognised as a leader in CO2-to-methanol technology. The company raised $30M led by Equinor Ventures and counts Geely, Methanex and Eyrir Invest among its major shareholders. CRI's technology has been deployed in commercial projects in China, including one of the world's most efficient CO2-to-methanol plants built in partnership with Jiangsu Sailboat.
CCP Games
CCP Games is the Reykjavik studio behind EVE Online, the long-running sandbox space MMO that has become one of the most culturally distinctive video games ever built in Europe: a single persistent universe shared by all players, with a player-driven economy, alliances, and wars that have produced academic papers and international news coverage. Founded in 1997, CCP effectively bootstrapped Iceland's modern games industry and remains the anchor of Reykjavik's interactive-entertainment cluster. The studio was acquired by South Korea's Pearl Abyss in 2018 but kept its Icelandic operations and brand, and has since expanded into new IP explorations, third-party developer partnerships, and blockchain-adjacent experiments around player-owned assets. For the directory, CCP illustrates how a small European capital can sustain a live-operations games business at a scale usually associated with Tokyo, Los Angeles, or Helsinki.
Controlant
Controlant is a Reykjavik-born supply-chain visibility company that combines reusable IoT data loggers, cellular-connected gateways, and a cloud analytics platform to give pharma manufacturers, 3PLs, and retailers real-time temperature, humidity, and location data on every shipment in a cold chain. The company became internationally recognized during the COVID-19 pandemic as one of Pfizer's primary visibility partners for global vaccine distribution, where its devices were used to monitor ultra-cold shipments through long intercontinental routes. Beyond pharma, Controlant's platform is used for food, biologics, and other temperature-sensitive goods, with a commercial model that charges per shipment rather than per device so customers avoid the usual capex headaches of traditional loggers. It is the clearest example of Iceland producing a deep-tech, globally relevant supply-chain platform rather than a pure consumer or gaming play.
Crowberry Capital
Crowberry Capital is a Nordic seed and early-stage venture fund founded in 2017 in Reykjavik, with additional offices in Copenhagen and Stockholm. The all-female founding team backs technology startups across the Nordics, with a particular focus on SaaS, digital health, fintech, and gaming. Its second fund closed at €90 million and the firm has invested in over 34 companies. Notable portfolio companies include Lucinity (AI anti-money laundering) and Mainframe Industries (cloud-native MMO gaming).
EAI ICDF2C 2026 - Digital Forensics & Cyber Crime
The 17th EAI International Conference on Digital Forensics & Cyber Crime, hosted by the University of Iceland at the Groska Innovation Hub in Reykjavik. The 2026 theme is cyber analytics and forensics in the era of emerging AI threats, with keynotes, research presentations and tutorials drawing academics, law-enforcement practitioners and security vendors. Proceedings are published in Springer's LNICST series.
EIA Nordic 2026 - Nordic Energy Informatics Academy Conference
The Nordic Energy Informatics Academy Conference, held at the University of Iceland in Reykjavik, explores the intersection of energy systems and informatics. Sessions span smart grids, district heating, electric mobility, industrial efficiency and sustainable buildings, with a dedicated Nordic track on the region's energy transition, bringing together academic researchers and industry innovators.
European Founders New Year 2026
Annual gathering in Reykjavik for European founders, investors, and ecosystem builders to connect and kick off the new year with strategic planning. Features fireside chats, workshops, and intimate networking in an inspiring Icelandic setting. Valuable for founders seeking cross-border relationships and fresh perspectives on building in Europe.
Eyrir Sprotar
Eyrir Sprotar is the seed and early-stage venture fund managed by Eyrir Invest, a Reykjavik-based international investment company with a 25-year track record. The fund, launched in 2012 and formalized in 2015, backs promising Icelandic ventures targeting international markets, with typical investment sizes around €3 million. Eyrir Invest is best known as a major long-term shareholder in Marel, the global food processing equipment manufacturer.
Frumtak Ventures
Frumtak Ventures is Iceland's oldest active venture capital firm, founded in 2008 with a mandate to back local innovation with global potential. The firm takes a concentrated, high-conviction approach from seed through later growth stages, partnering closely with founders across AI, healthcare, logistics, energy, climate, and ocean-tech. Its fourth fund, closed in July 2024 at $87 million and oversubscribed, is primarily backed by Icelandic pension funds. The portfolio of 34 companies includes notable companies such as Controlant (pharma cold-chain) and Sidekick Health (digital therapeutics).
Game Makers Iceland
Game Makers Iceland is a grassroots community organization for Iceland's local game development scene, welcoming professionals at studios, indie developers, hobbyists, artists, and students. Based in Reykjavík, they organize the annual Reykjavík Game Summit, bringing together local and international speakers for talks, insights, and networking. The organization maintains active community channels and emphasizes inclusivity across Iceland's growing game industry.
Genki Instruments
Genki Instruments is a Reykjavik music technology hardware company that creates expressive wearable controllers for musicians and producers. Its flagship product, the Wave MIDI ring, lets performers control sound, effects and DAW parameters using natural hand gestures including tilt, pan, roll, vibrato, tap and click — compatible with Ableton Live, Logic Pro, Pro Tools and more. Founded in 2015 by Daniel Gretarsson, Haukur Ragnarsson Isfeld and Jón Helgi Holmgeirsson, the company won the Icelandic Design Prize in 2019. In 2026 Genki shipped the Katla, a new hybrid polyphonic synthesizer, confirming the studio's ongoing hardware output.
Gróska
Gróska is a 188,000 sq ft innovation and business growth center at Bjargargata 1 in Reykjavik, opened in 2019 and widely regarded as the epicenter of Iceland's startup ecosystem. The facility houses companies, investment teams, startup incubator programs, and university research labs under one roof. CCP Games is among its anchor tenants. Gróska offers flexible desk memberships, private offices, meeting rooms, and event space, fostering collaboration between startups, established companies, and academic institutions.
