New Business Venture Fund

ArcanaBio develops advanced diagnostics systems that enable low cast, rapid and scalable biomonitoring for health & wellbeing using biophotonics and AI

Sundra is developing a video editing tool that automates all the most time consuming processes of editing large events such as conferences.

HorseDay is a specialized training program aimed at horse owners, trainers, and enthusiasts. It offers an equestrian app that serves as a digital training diary for horses, allowing users to store and manage all relevant data and information related to horse riding. The application features an extensive exercise library that includes recognized training methods presented through text, images, and videos. This platform enables owners of Icelandic horses, as well as trainers and riding instructors, to create profiles for their horses and fosters connectivity and communication among users worldwide.

Spectaflow offers integrated SaaS solutions to the hotel and accommodations industry. One of the most difficult and time-consuming aspects of hospitality management, managing deskless workforces in hotel and vacation rental operations is the focus of Spectaflow. Spectaflow mitigates staffing issues, and interdepartmental miscommunications, and improves cleaning and maintenance workflows for significantly improved guest services and experiences. The company does this by strategically integrating with existing systems and utilizing AI for predictive planning.

PayAnalytics is a developer of compensation analytics software that assists organizations in monitoring and addressing pay disparities, particularly the gender pay gap. The company offers tools for payroll analysis, enabling clients to measure and close pay ranges effectively. By providing insights into salary data, PayAnalytics helps businesses identify demographic pay gaps and implement strategies to ensure these gaps are addressed and maintained over time. This focus on equitable compensation supports organizations in fostering a fair and inclusive workplace.

Evolytes is a platform designed to enhance learning results by combining games, literature, and monitoring. To enhance learning results and maintain children's interest, they carry out research and employ psychological theories. Children work in the books, scan the QR codes at the conclusion of each chapter to take the exam, and then they receive rewards. It supports the monitoring section by assisting instructors and parents in keeping track of the child's development.

Hefring Marine is an Icelandic startup based in Reykjavík that specializes in advanced marine technology. The company offers the Intelligent Marine Assistance System (IMAS), an AI-driven software solution designed to enhance safety and efficiency for both manned and unmanned vessels. IMAS utilizes artificial intelligence, machine learning, and Internet of Things (IoT) technologies to provide real-time navigation guidance, helping operators minimize risks associated with inexperience and improving situational awareness. The system significantly reduces fuel consumption and carbon emissions, with potential savings of up to 25%, and mitigates wave slamming impacts by as much as 70%. This approach not only protects crew and passengers but also minimizes damage to vessels and equipment, ensuring a safer and more comfortable marine experience.

3Z Pharmaceuticals provides research services intended to provide drug development services. It offers drug screening on sleep and epilepsy assays that helps in the development of drugs used to treat neurological disorders, enabling patients to get multiple drug efficacy and toxicity assays. Karl Karlsson and Haraldur Thorsteinsson founded 3Z Pharmaceuticals in 2008. It based their company on their research on the sleeping patterns of the zebrafish at the Reykjavik University Neurolab in 2006.

Tyme Wear is a smart shirt that helps personalize your training by assessing your metabolic profile from your breathing. The insights offered by the Tyme Wear product conceptualize the physiological limits we aim to push past. We believe accurate data should be available to all athletes.

PayAnalytics is a developer of compensation analytics software that assists organizations in monitoring and addressing pay disparities, particularly the gender pay gap. The company offers tools for payroll analysis, enabling clients to measure and close pay ranges effectively. By providing insights into salary data, PayAnalytics helps businesses identify demographic pay gaps and implement strategies to ensure these gaps are addressed and maintained over time. This focus on equitable compensation supports organizations in fostering a fair and inclusive workplace.

Florealis is a pharmaceutical company focused on providing herbal medicinal products and solutions aimed at promoting health and well-being. The company offers a diverse range of registered herbal medicines that address various health issues, including urinary tract infections, anxiety, sleep disorders, and gynecological concerns. Their products, which are derived from active natural ingredients approved by health authorities, are designed to help patients manage common ailments effectively and safely. By prioritizing natural components in their offerings, Florealis aims to deliver accessible healthcare solutions that support overall wellness.

Kara Connect ehf. is a telepractice platform based in Reykjavík, Iceland, established in 2014. The platform connects service providers in healthcare and education with patients and organizations seeking professional assistance. It offers a customized wellness hub designed specifically for companies, enabling employees to access high-quality coaching, counseling, and therapy services tailored to their individual needs. By facilitating access to a diverse range of professionals, including therapists and educators, Kara Connect aims to enhance the availability of support in the health, welfare, and educational sectors, thereby empowering individuals and organizations to improve their well-being and potential.

Hefring Marine is an Icelandic startup based in Reykjavík that specializes in advanced marine technology. The company offers the Intelligent Marine Assistance System (IMAS), an AI-driven software solution designed to enhance safety and efficiency for both manned and unmanned vessels. IMAS utilizes artificial intelligence, machine learning, and Internet of Things (IoT) technologies to provide real-time navigation guidance, helping operators minimize risks associated with inexperience and improving situational awareness. The system significantly reduces fuel consumption and carbon emissions, with potential savings of up to 25%, and mitigates wave slamming impacts by as much as 70%. This approach not only protects crew and passengers but also minimizes damage to vessels and equipment, ensuring a safer and more comfortable marine experience.

Lauf Forks makes ultra lightweight suspension forks for gravel bikes, cyclocross bikes, XC hardtails, and fatbikes.

Ankeri develops cloud based software solution focusing on ship performance from the perspective of charter parties i.e. contracts. Ankeri is a team with extensive experience from over 25 combined years of marketing, designing and developing software products for the shipping industry. Ankeri was founded on 1st December 2016.

Florealis is a pharmaceutical company focused on providing herbal medicinal products and solutions aimed at promoting health and well-being. The company offers a diverse range of registered herbal medicines that address various health issues, including urinary tract infections, anxiety, sleep disorders, and gynecological concerns. Their products, which are derived from active natural ingredients approved by health authorities, are designed to help patients manage common ailments effectively and safely. By prioritizing natural components in their offerings, Florealis aims to deliver accessible healthcare solutions that support overall wellness.

Valka is a manufacturer specializing in advanced equipment for the fish processing industry. The company designs high-tech hardware and software solutions that enhance productivity for its clients. Its product portfolio includes systems for whole-fish grading, X-ray-guided cutting and portioning, packing technology, feed-dispersing systems, and inventory control. Valka's team, composed of experienced professionals from the seafood sector, is dedicated to addressing critical challenges faced by customers with innovative and effective solutions. Under the leadership of founder and CEO Helgi Hjálmarsson, Valka has established a reputation for high-quality products and holds multiple patents, with more pending. The company is committed to continuous improvement and innovation, ensuring that its offerings evolve in line with client needs while expanding its international customer base.

Dohop Ltd. is a technology provider based in Reykjavik, Iceland, specializing in travel and aviation solutions since its founding in 2004. The company operates a travel search engine that enables users to find the most affordable flights, hotels, and car rentals. Its offerings include Dohop Connection Search, which customizes flight searches for specific airlines or airports, and a flight search solution designed for airlines and airport websites. Additionally, Dohop provides GatwickConnects, allowing passengers to book connections between flights from different airlines at Gatwick Airport in a single transaction. Recognized for its innovative approach, Dohop develops solutions in virtual interline technology and has collaborated with various airlines and alliances, streamlining the process of creating connecting itineraries and enhancing travel connectivity.

Mint Solutions develops MedEye, a solution for medication and patient safety in hospitals and other healthcare institutions. MedEye helps nurses verify and document all medication administrations to patients. The solution uses computer vision technology to enable the nurse to work faster and more efficiently than other comparable solutions. MedEye integrates with hospital information systems to retrieve information about which medications patients should be getting. MedEye then works with the nurse to make sure that all medication dosages are safely delivered to the patient. Without requiring the nurse to type information or use a computer, MedEye then safely documents all actions and completes the medical history of the patient. MedEye addresses the problem of medication errors in hospitals and healthcare institutions. It is estimated that 1 in 5 medications are given incorrectly in hospitals, causing one medication error per patient per day.

3Z Pharmaceuticals provides research services intended to provide drug development services. It offers drug screening on sleep and epilepsy assays that helps in the development of drugs used to treat neurological disorders, enabling patients to get multiple drug efficacy and toxicity assays. Karl Karlsson and Haraldur Thorsteinsson founded 3Z Pharmaceuticals in 2008. It based their company on their research on the sleeping patterns of the zebrafish at the Reykjavik University Neurolab in 2006.

Kaptio ehf. is an enterprise Software-as-a-Service provider focused on the travel industry, offering solutions to help travel companies manage various aspects of their operations. Established in 2012 and based in Kopavogur, Iceland, with a presence in Heidelberg, Germany, Kaptio's main product, Kaptio Travel, supports a diverse range of travel service providers, including tour operators, hotels, and travel agencies. The platform facilitates the Proposal-to-Operation lifecycle and enhances relationship management with customers, agents, and suppliers. Kaptio also offers a suite of consultancy services, including technical architecture, implementation, integration development, and cloud management, aimed at streamlining reservation processes and improving customer relationship management for travel businesses.

Getsling is an easy-to-use, free shift scheduling and planning software that helps your business manage shifts and communicate with employees.

Sólfar Studios is a virtual reality gaming studio founded by three industry veterans with over 20 years of experience in online worlds, games, and virtual reality. The studio focuses on creating and publishing games across all major VR platforms, including PlayStation's Project Morpheus, Steam VR, and Oculus Rift. Sólfar is dedicated to delivering transformative experiences that evoke visceral emotions, fostering an immersive environment for users. The company maintains a selective approach to talent and collaborators, ensuring a commitment to quality and impactful productions while remaining agile in the ever-evolving gaming landscape.

Kerecis specializes in developing patented fish-skin products designed to promote healing in humans. Utilizing Omega-3 fatty acids extracted from cold-water fish, their therapeutic offerings serve as effective substitutes for human skin, significantly aiding in the treatment of various wounds, including burns and diabetic ulcers, as well as applications in oral surgery, hernia repair, and breast reconstruction. The company's products are formulated to retain the natural properties of fish skin, minimizing disease-transfer risks while enhancing tissue regeneration. Kerecis has substantiated its technology through over 50 studies, including two double-blind, randomized control trials that demonstrated superior efficacy compared to traditional mammalian-based treatments. The organization continues to expand its product range to address diverse medical needs across multiple surgical domains.

3Z Pharmaceuticals provides research services intended to provide drug development services. It offers drug screening on sleep and epilepsy assays that helps in the development of drugs used to treat neurological disorders, enabling patients to get multiple drug efficacy and toxicity assays. Karl Karlsson and Haraldur Thorsteinsson founded 3Z Pharmaceuticals in 2008. It based their company on their research on the sleeping patterns of the zebrafish at the Reykjavik University Neurolab in 2006.

Cooori is an ed-tech company that specializes in language learning products driven by artificial intelligence. The platform utilizes a neural network to analyze individual learning patterns and proficiency levels, allowing it to recommend tailored exercises that maximize improvement. By leveraging insights from scientific research on human memory and deep learning technology, Cooori's system schedules targeted learning activities at optimal times to enhance language acquisition effectively. While the primary focus is on the B2B English TOEIC market in Japan, the underlying technology is adaptable for various other language learning applications, enabling users to progress at their own pace from any location.

Brand Regard is a software-as-a-service brand asset management solution for brands and agencies. Brand Regard gives brands and agencies online access to their branding and marketing data, allowing them to easily find, download and distribute these files with colleagues and partner companies and stop wasting time finding files scattered over various computers, FTP drives or DVDs. Brand Regard is based in the cloud and sold as a service, with clients paying a monthly fee according to how many users need access.

Gagnavarslan specializes in data retention services that align with current standards and accepted practices. The company focuses on preserving, accessing, and responsibly disposing of data at the end of its lifecycle, ensuring that businesses have secure access to their documents. Gagnavarslan prioritizes continuous improvement to enhance customer service, while its commitment to data protection guarantees adherence to established security standards. By providing a secure environment for document storage, Gagnavarslan aims to meet the evolving needs of its clients in an increasingly data-driven landscape.

Mint Solutions develops MedEye, a solution for medication and patient safety in hospitals and other healthcare institutions. MedEye helps nurses verify and document all medication administrations to patients. The solution uses computer vision technology to enable the nurse to work faster and more efficiently than other comparable solutions. MedEye integrates with hospital information systems to retrieve information about which medications patients should be getting. MedEye then works with the nurse to make sure that all medication dosages are safely delivered to the patient. Without requiring the nurse to type information or use a computer, MedEye then safely documents all actions and completes the medical history of the patient. MedEye addresses the problem of medication errors in hospitals and healthcare institutions. It is estimated that 1 in 5 medications are given incorrectly in hospitals, causing one medication error per patient per day.

Kerecis specializes in developing patented fish-skin products designed to promote healing in humans. Utilizing Omega-3 fatty acids extracted from cold-water fish, their therapeutic offerings serve as effective substitutes for human skin, significantly aiding in the treatment of various wounds, including burns and diabetic ulcers, as well as applications in oral surgery, hernia repair, and breast reconstruction. The company's products are formulated to retain the natural properties of fish skin, minimizing disease-transfer risks while enhancing tissue regeneration. Kerecis has substantiated its technology through over 50 studies, including two double-blind, randomized control trials that demonstrated superior efficacy compared to traditional mammalian-based treatments. The organization continues to expand its product range to address diverse medical needs across multiple surgical domains.

AGR Dynamics is a company that specializes in supply chain management software, particularly through its flagship product, AGR. This software features tools for exception management, inventory optimization, and sales management, aimed at enhancing operational efficiency for businesses. Founded in 1997, AGR Dynamics has built a strong team of 43 employees across Iceland, the UK, and Denmark, focusing on consulting, implementation, and maintenance of supply chain solutions. The company serves a diverse clientele, including prominent wholesale and retail firms, and has experience working with over 30 international customers. As a Microsoft Certified Partner, AGR Dynamics has expertise in business solutions, particularly in the implementation of Microsoft Dynamics NAV and LS Retail, contributing to some of the largest system deployments globally. By continually acquiring knowledge and fostering strong customer communication, AGR Dynamics strives to improve business operations and drive innovation within the supply chain sector.

gogoyoko.com is a music service that allows artists to sell their music directly to fans and allows everyone to listen to all music on the site for free. The service uses a combination of subscriptions and advertising sales to support payments to the artists for streaming. The site is unique in the way it splits revenue with artists and charity, with 40% of advertising and subscription revenue shared directly with artists who stream the most music on the site and 10% going to partner charities. Unlike other music stores online, the site takes a very small cut (10%) of music sales, which means that artists make more money from each sale, which makes the service attractive for local music scenes to support their musicians directly. Also, the site's focus is on the independent music sector and the largest labels on the site are large independents like Matador and XL.

Yaolan New Media Ltd. operates the dominant Chinese language online parenting web portal, community, and education platform www.yaolan.com. Founded in 1999, the company has built the most highly recognized and trusted online parenting brand by offering quality information and education services to pregnant women and parents of 0-6 year-old in China. Currently we have around 2.4 million registered members. Yaolan attracts 400,000 unique visitors daily that account for 3.2 million daily page views.

Mentis Cura is íslenkst research and development company specializing in the use of EEG for the diagnosis of central nervous system diseases such as Alzheimer's disease (AS) and Attention Deficit Hyperactivity Disorder in children (ADHD).

BioCule specializes in developing advanced microelectrophoresis systems that analyze nucleic acid samples. Its technology allows for the detection and assessment of size distribution and relative amounts of various forms of DNA, including double-stranded DNA, single-stranded DNA, RNA-DNA hybrids, and damaged DNA. The platform operates under semi-denaturing conditions and is particularly effective in evaluating the quality of nucleic acid samples. By providing insights into DNA quality and damage, BioCule's systems enable researchers to better understand nucleic acid complexities, including cross-links, fragmentation, and strand breaks.

NORDICPHOTOS was established in 2000 in Iceland, and grew rapidly by the acquisitions of legendary, Swedish picture agencies Mira and Tiofoto. Today the direction is mainly contemporary Scandinavian photography, with unique selections of vintage photography by famous and less well known Swedish photographers, and an eclectic blend of foreign image collections. NORDICPHOTOS has offices in Reykjavik and Stockholm and is established world wide by a network of international agencies.

InfoMentor's primary ambition is for all pupils to reach their full potential. This is achieved by creating the right conditions for learning. InfoMentor is a leading provider of teaching and learning solutions - online and mobile. It brings together in one platform, the most important stakeholders - the pupils, the teacher and the parents.