Brunnur II

Brunnur Ventures, established in 2013 and located in Reykjavik, Iceland, is a venture capital firm that focuses on investing in Icelandic start-ups and growth companies. The firm aims to enhance the growth potential of its portfolio by investing not only within Iceland but also internationally. Brunnur Ventures does not confine itself to a specific industry sector; instead, it seeks opportunities across various fields, including information technology, consumer products and services, gaming, cleantech, life sciences, and ag tech. Through its investments, Brunnur Ventures strives to support innovative companies that demonstrate significant potential for expansion.

Sigurdur Arnljotsson

Founding Partner

Arni Blöndal

Managing Partner

Soffía Theódóra Tryggvadóttir

Partner

29 past transactions

Avilabs

Venture Round in 2024
AviLabs specializes in software development tailored for the aviation industry. The company has created a passenger disruption management platform that enhances the travel recovery process, allowing aviation businesses to improve the passenger experience. This platform requires no upfront investment or extensive system integration, making it accessible for various aviation stakeholders to implement effectively.

Porcelain Fortress

Seed Round in 2024
Porcelain Fortress, founded in the summer of 2016 in Reykjavik, Iceland, is a video game development company focused on creating simple, enjoyable, and well-polished games for the PC market. The company aims to provide clients with a convenient and hassle-free gaming experience through its diverse range of products, which include both PC games and console offerings. With a commitment to quality and user satisfaction, Porcelain Fortress caters to gamers seeking engaging entertainment.

Laki Power

Venture Round in 2023
Laki Power ehf, founded in 2015 and headquartered in Reykjavik, Iceland, specializes in eco-friendly power solutions through research and development. The company has developed an innovative grid inspection solution that allows for the fast charging of drones directly on high-voltage power lines, facilitating continuous and autonomous inspections in remote areas. This technology addresses challenges such as icing, wildfires, and grid congestion by enabling real-time monitoring of overhead power lines. Laki Power's offerings include monitoring systems that utilize optical and thermal cameras, weather stations, and line sensors, all designed to operate without external power sources like solar panels or diesel generators. The company is actively partnering with leading grid operators to implement stationary monitoring solutions at critical grid points.

Trip To Japan

Pre Seed Round in 2023
Trip to Japan is a travel booking platform that focuses on creating customizable itineraries for travelers. The platform offers a variety of options, including hotels, ryokans, JR Passes, cultural tours, sightseeing, and adventure trips. With a selection of pre-planned and tailored travel packages, Trip to Japan provides easy online booking and free cancellations.

DTE ehf

Series A in 2023
DTE introduces breakthrough real-time process control analytics for metals production and processing towards Industry 4.0, through our robotic hardware and software solutions, automating current manual sampling processes for improved quality, cost, efficiency and safety.

Vitar Games

Pre Seed Round in 2023
Vitar Games is a video game developer focused on creating a gaming platform that highlights the logistical aspects of combat and the human cost of conflict. The company aims to deliver quality-driven gaming experiences through engaging storytelling and innovative gameplay. By employing established game design principles, Vitar Games offers a unique approach that caters to fans of strategy, encouraging players to immerse themselves in dynamic and evolving gameplay scenarios.

Standby Deposits

Seed Round in 2023
Standby Deposits is a developer of a rental deposit alternative platform designed to streamline the renting process for both landlords and tenants. The platform offers a solution that eliminates traditional security deposits by allowing renters to secure properties based on their rental credit scores. This innovative approach not only simplifies the rental experience but also integrates banking features for timely rent payments. By managing security deposits on behalf of property managers, Standby Deposits automates the entire process, providing users with a cost-effective, credit-based alternative. This integration enhances property management systems, making the renting experience more seamless and cash-free for all parties involved.

Nanitor

Venture Round in 2022
Nanitor is a cybersecurity software developer that simplifies the management of vulnerabilities across both on-premise and cloud assets. The Nanitor platform offers a comprehensive solution that continuously analyzes an organization's environment to identify fundamental cybersecurity issues. It checks security configurations against industry best practices, detects known vulnerabilities, and identifies missing security patches throughout the infrastructure. By providing an integrated view of IT assets and their associated cybersecurity risks, Nanitor enables organizations to prioritize issues, streamline compliance reporting, and efficiently manage risk. This holistic approach allows companies to execute timely remediation of cybersecurity-related challenges effectively.

Arctic Theory

Seed Round in 2022
Arctic Theory is a game development company dedicated to creating massively multiplayer online experiences through innovative technology. The company focuses on developing expansive virtual worlds that allow players to engage in immersive gameplay, where they can influence and shape their environment in unique ways. A key aspect of Arctic Theory's approach is its development prototype, known as Project Existence. This live development environment enables the team to establish foundational elements for their main title while testing new features and technologies with real player involvement. This approach fosters a dynamic connection between users, enhancing their ability to explore and interact with one another on a global scale.

Taktikal

Series A in 2022
Taktikal is build around highly experienced staff in the field of digital product development and software. Taktikal helps companies redesign and automate processes that deliver faster processing, less operational risk and a better customer experience.

Hopp

Seed Round in 2021
Hopp is a micro mobility SaaS solution & e-scooter sharing franchise for local entrepreneurs.

DTE ehf

Series A in 2020
DTE introduces breakthrough real-time process control analytics for metals production and processing towards Industry 4.0, through our robotic hardware and software solutions, automating current manual sampling processes for improved quality, cost, efficiency and safety.

Laki Power

Seed Round in 2019
Laki Power ehf, founded in 2015 and headquartered in Reykjavik, Iceland, specializes in eco-friendly power solutions through research and development. The company has developed an innovative grid inspection solution that allows for the fast charging of drones directly on high-voltage power lines, facilitating continuous and autonomous inspections in remote areas. This technology addresses challenges such as icing, wildfires, and grid congestion by enabling real-time monitoring of overhead power lines. Laki Power's offerings include monitoring systems that utilize optical and thermal cameras, weather stations, and line sensors, all designed to operate without external power sources like solar panels or diesel generators. The company is actively partnering with leading grid operators to implement stationary monitoring solutions at critical grid points.

IMS Vintage Photos

Seed Round in 2019
IMS Vintage Photos specializes in digitizing old photo archives, for the owners and offering the original prints on sale for collectors and heritage photo connoisseurs worldwide.

GRID

Seed Round in 2019
GRID is a spreadsheet technology company redefining how spreadsheets integrate with modern applications. At its core is a powerful independent spreadsheet engine, built for complex calculations, dynamic visualizations, and seamless AI integration.

Nanitor

Seed Round in 2019
Nanitor is a cybersecurity software developer that simplifies the management of vulnerabilities across both on-premise and cloud assets. The Nanitor platform offers a comprehensive solution that continuously analyzes an organization's environment to identify fundamental cybersecurity issues. It checks security configurations against industry best practices, detects known vulnerabilities, and identifies missing security patches throughout the infrastructure. By providing an integrated view of IT assets and their associated cybersecurity risks, Nanitor enables organizations to prioritize issues, streamline compliance reporting, and efficiently manage risk. This holistic approach allows companies to execute timely remediation of cybersecurity-related challenges effectively.

EpiEndo Pharmaceuticals

Angel Round in 2019
EpiEndo Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing innovative treatments for inflammatory disorders by enhancing epithelial barrier integrity. This barrier is crucial for the proper functioning of human skin, lung tissue, the intestinal tract, and genitalia. Disruption of this barrier is linked to chronic inflammation and various diseases. The company is creating a proprietary portfolio of orally available macrolide drug candidates, which aim to serve as first-in-class disease-modifying therapeutics for chronic respiratory conditions and other significant unmet medical needs. EpiEndo's lead candidate, EP395, is designed to be the first oral, non-antibiotic macrolide that strengthens barriers and reduces inflammation in patients with chronic obstructive pulmonary disease (COPD) and other inflammatory airway diseases.

Oculis Holding

Series B in 2019
Oculis is a global biopharmaceutical company focused on advancing eye care and preserving vision through innovative drug delivery solutions. The company's unique platform enables effective drug absorption in both the anterior and posterior segments of the eye, allowing for the treatment of conditions such as diabetic macular edema (DME) with a simple topical application, thus eliminating the need for invasive procedures. Oculis is developing several therapeutic candidates, including OCS-01, a topical treatment for DME; OCS-02, aimed at addressing dry eye disease; and OCS-05, which targets acute optic neuritis and other neuro-ophthalmic disorders. This novel approach not only facilitates treatment for posterior eye diseases but also reduces the required frequency of applications for anterior conditions compared to traditional eye drops.

Ghostlamp

Venture Round in 2018
Ghostlamp is a developer of an online self-serve platform that facilitates the creation of on-demand micro influencer campaigns for brands and agencies globally. The platform automates essential processes such as finding, contracting, and compensating influencers, thereby simplifying influencer marketing efforts. Additionally, Ghostlamp provides tools to measure campaign success and track all influencer-generated content, enabling brands to execute targeted marketing strategies effectively.

GRID

Angel Round in 2018
GRID is a spreadsheet technology company redefining how spreadsheets integrate with modern applications. At its core is a powerful independent spreadsheet engine, built for complex calculations, dynamic visualizations, and seamless AI integration.

Oculis Holding

Series B in 2018
Oculis is a global biopharmaceutical company focused on advancing eye care and preserving vision through innovative drug delivery solutions. The company's unique platform enables effective drug absorption in both the anterior and posterior segments of the eye, allowing for the treatment of conditions such as diabetic macular edema (DME) with a simple topical application, thus eliminating the need for invasive procedures. Oculis is developing several therapeutic candidates, including OCS-01, a topical treatment for DME; OCS-02, aimed at addressing dry eye disease; and OCS-05, which targets acute optic neuritis and other neuro-ophthalmic disorders. This novel approach not only facilitates treatment for posterior eye diseases but also reduces the required frequency of applications for anterior conditions compared to traditional eye drops.

Ghostlamp

Seed Round in 2017
Ghostlamp is a developer of an online self-serve platform that facilitates the creation of on-demand micro influencer campaigns for brands and agencies globally. The platform automates essential processes such as finding, contracting, and compensating influencers, thereby simplifying influencer marketing efforts. Additionally, Ghostlamp provides tools to measure campaign success and track all influencer-generated content, enabling brands to execute targeted marketing strategies effectively.

Avo

Seed Round in 2017
Avo creates one source of truth for analytics events and generates personalized tracking libraries that give developers dev time validation that implementation is correct. Avo is a toolbox (UI and dev tool) to define event based analytics, and generate personalized tracking libraries that provide dev time validation of correct implementation. It's like a spell-checker for people to define quality data, and a type-checker for developers to make sure they send analytics according to design.

Oculis Holding

Series A in 2016
Oculis is a global biopharmaceutical company focused on advancing eye care and preserving vision through innovative drug delivery solutions. The company's unique platform enables effective drug absorption in both the anterior and posterior segments of the eye, allowing for the treatment of conditions such as diabetic macular edema (DME) with a simple topical application, thus eliminating the need for invasive procedures. Oculis is developing several therapeutic candidates, including OCS-01, a topical treatment for DME; OCS-02, aimed at addressing dry eye disease; and OCS-05, which targets acute optic neuritis and other neuro-ophthalmic disorders. This novel approach not only facilitates treatment for posterior eye diseases but also reduces the required frequency of applications for anterior conditions compared to traditional eye drops.

DTE ehf

Seed Round in 2016
DTE introduces breakthrough real-time process control analytics for metals production and processing towards Industry 4.0, through our robotic hardware and software solutions, automating current manual sampling processes for improved quality, cost, efficiency and safety.

ATMO Select

Series A in 2015
ATMO Select specializes in audio branding, focusing on the relationship between music, sound, and customer engagement. By leveraging extensive research and years of industry experience, the company analyzes customer demographics and brand characteristics to create tailored audio branding strategies. These strategies culminate in detailed music profile reports that assist businesses in enhancing their customer interactions. Based in Iceland, ATMO Select operates across Scandinavia, Germany, Benelux, and the United States. Additionally, the company provides high-quality speakers and sound systems suitable for various retail and installation environments. It also offers customized music atmospheres and sound integration systems, along with natural scent equipment, particularly for the hospitality and branded retail sectors, aiming to elevate the in-store experience and drive revenue growth for its clients.

Ark Technology

Series A in 2015
ARK Technology is an environmental management company based in Reykjavik, Iceland, focused on providing software solutions and advisory services specifically for the maritime industry. Founded in 2013, the company offers tools that help ship owners monitor and analyze their vessels' environmental impact, thereby enabling them to reduce waste and operational costs. By facilitating data sharing and simplifying regulatory compliance, ARK Technology assists shipping companies in optimizing their environmental performance. This proactive approach not only enhances operational efficiency but also strengthens market positioning and customer relations for companies demonstrating consistent environmental responsibility. The company is funded through private investments and various grants, including support from the Icelandic Technology Development Fund and the Nordic Atlantic Cooperation project fund.
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