Foobar

Foobar is a venture capital firm founded in 2012 and based in Reykjavik, Iceland. The company focuses on supporting entrepreneurs and investing in technology with a clear mission to accelerate global decarbonization and sustainability. Driven by a sense of curiosity and a commitment to addressing climate change, Foobar aims to create effective procedures that promote environmental stewardship. Through its investments, the firm seeks to foster innovation in the technology sector that contributes to a more sustainable future.

David Helgason

Founder, CEO and Board Member

6 past transactions

Flow Engineering

Seed Round in 2022
Flow Engineering is an innovative company that has developed the first engineering data platform specifically designed for agile engineering teams. The platform streamlines the engineering design process by automating much of the manual execution work, thereby enhancing efficiency and accelerating hardware invention. It facilitates seamless integration of essential data across various tools, allowing engineers to easily develop and iterate complex designs. By building critical software infrastructure, Flow Engineering aims to reinvent traditional engineering frameworks, enabling teams to work more effectively and adapt to changing project requirements.

Running Tide

Series B in 2022
Running Tide is a global ocean health company that focuses on deploying nature-based interventions to remove carbon from the atmosphere and combat ocean acidification. The company utilizes adaptive aquaculture techniques to optimize marine environments while producing healthy, low-carbon protein. Running Tide employs advanced monitoring and measurement technology, leveraging photosynthesis, ocean currents, and gravity to store carbon in the deep ocean. By analyzing ocean data, the company aims to enhance the utilization of two-thirds of the Earth’s surface in the fight against climate change, ultimately improving the health of the world's oceans.

HelixNano

Convertible Note in 2020
HelixNano is a biotechnology startup that employs artificial intelligence and synthetic biology to develop innovative treatments for genetic diseases. Founded with backing from Y Combinator and venture capitalists, the company initially focused on creating cancer vaccines over two years. Currently, HelixNano is adapting its technology to combat COVID-19, aiming to produce precise and safe vaccine candidates. Its long-term goal is to develop a universal coronavirus vaccine that protects against future outbreaks.

HelixNano

Convertible Note in 2019
HelixNano is a biotechnology startup that employs artificial intelligence and synthetic biology to develop innovative treatments for genetic diseases. Founded with backing from Y Combinator and venture capitalists, the company initially focused on creating cancer vaccines over two years. Currently, HelixNano is adapting its technology to combat COVID-19, aiming to produce precise and safe vaccine candidates. Its long-term goal is to develop a universal coronavirus vaccine that protects against future outbreaks.

Glue Collaboration

Seed Round in 2019
In 2004, Santtu Parikka founded Fake Production, a VR and gaming studio that won multiple awards for animation. In recent years, as their passion for all things VR/AR has grown, they’ve been drawn to an important challenge: to enable people thousands of miles apart to collaborate effectively in virtual environments, just as they might in a real physical setting. In 2016, Santtu and their CTO Juha Ruistola revealed the first multi-user VR prototypes. These proved an instant hit. A year later, as they crystallized their new mission, vision and strategy, Glue was born. Since then, their 30-strong team has continued to build on their legacy and break new ground in multi-user VR software, developing Glue into the fully-featured virtual collaboration platform they are today.

HelixNano

Convertible Note in 2017
HelixNano is a biotechnology startup that employs artificial intelligence and synthetic biology to develop innovative treatments for genetic diseases. Founded with backing from Y Combinator and venture capitalists, the company initially focused on creating cancer vaccines over two years. Currently, HelixNano is adapting its technology to combat COVID-19, aiming to produce precise and safe vaccine candidates. Its long-term goal is to develop a universal coronavirus vaccine that protects against future outbreaks.
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