The startup scene across Iceland

StartupBlink’s 2026 sector data counts 80 Software & Data and 28 Healthtech entries in Iceland, assigning the sectors global ranks of 50 and 22, respectively.

As of Oct 2, 2026. Official information. Source: Iceland Startup Ecosystem - Rankings, Startups, and Insights

The Capital Region had 251,912 residents on January 1, 2026, compared with 36,570 in the South and 32,296 in the Northeast. The Reykjavík urban nucleus recorded 138,753 residents and Akureyri 20,067; these are population measures, not startup counts.

As of Oct 2, 2026. Official information. Source: Municipalities and urban nuclei

Crowberry Capital describes its focus as seed and early-stage investing across the Nordics, lists a Reykjavík office, and states an initial ticket range of €200,000 to €2 million. Its founder contact route does not establish a currently open allocation.

As of Oct 2, 2026. Official information. Source: Home - Crowberry Capital

Frumtak Ventures states a typical initial investment of €1 million to €3 million. Its ongoing founder inquiry route does not establish current fund availability or an open application window; its Fund IV article reports a close at US$87 million.

As of Oct 2, 2026. Official information. Source: Frumtak Ventures - Venture Capital in Iceland - Investing in local innovation with global potential; Frumtak Ventures closes fourth fund to invest in local innovation with global potential

Framvís and KPMG report that participating members invested ISK 4 billion in 2023, down from ISK 10 billion in 2022, and made 33 startup investments in 2023 versus 48 in 2022. The report says its data covers participating members only and names Brunnur, Frumtak, Crowberry Capital, Nýsköpunarsjóður atvinnulífsins, Eyrir Venture Management, and Iðunn.

As of Oct 2, 2026. Official information. Source: Startup Funding: 2023 in Numbers

Founders considering seed or early-stage capital can compare Crowberry Capital’s stated €200,000 to €2 million initial-ticket range with Frumtak Ventures’ typical €1 million to €3 million range. Both publish founder contact routes, but those routes do not confirm current capital availability or an open funding window.

As of Oct 2, 2026. Source: Home - Crowberry Capital; Frumtak Ventures - Venture Capital in Iceland - Investing in local innovation with global potential

StartupBlink reports that Iceland’s startup funding declined 56.18% and deal count fell 44.44% between 2024 and 2025. The publisher says annual algorithm changes can affect comparisons and that a lower comparative rank does not necessarily mean absolute performance worsened.

As of Oct 2, 2026. Official information. Source: Iceland Startup Ecosystem - Rankings, Startups, and Insights; Assessing Startup Ecosystem Success

Framvís reports nearly ISK 28 billion in 2023 investment from foreign co-investors associated with its members, nearly three times the prior year, and more than ISK 70 billion cumulatively since 2015. These figures are reported in a member-scoped dataset.

As of Oct 2, 2026. Official information. Source: Startup Funding: 2023 in Numbers