Brunnur Ventures

Brunnur Ventures invests in entities in Iceland and has the ability to invest abroad as a part of the expansion of its portfolio companies internationally. The venture firm does not have a specific industry focus. However, it investments in companies that show great growth potential in specific industry sectors. Brunnur Ventures is the General Partner of Brunnur Venture Capital Fund a USD 40M fund.

Sigurdur Arnljotsson

Founding Partner

Árni Blöndal

Founding Partner

26 past transactions

ATMO Select

Series A in 2015
ATMO Select covers all aspects of audio branding for companies and brands. Based on research & development, and years of experience, we analyze the music and sound correlation between a brand and its customer base. Customer demographics and brand information is used to develop an audio branding strategy and detailed music profile report that we deliver to our customers across the globe. Headquartered in Iceland, ATMO Select is based as well in Scandinavia, Germany, Benelux and the United States.

Ghostlamp

Seed Round in 2017
Ghostlamp ehf provides agencies and brands with a platform to launch influencer marketing campaigns. The company’s platform automates the process of finding, contracting and paying influencers. Ghostlamp ehf was founded in 2014 and is headquartered in Reykjavk, Iceland with additional office in Seattle, Washington.

Arctic Theory

Seed Round in 2022
Operator of a game development studio specializing in creating massively multiplayer virtual worlds using new, innovative technology. The company is currently working on its first video game and has a development prototype, called project existence, which works as a live development environment where the team lays the groundwork for their main title, and tests out new features and technology with real player engagement, enabling users to immerse themselves in new worlds and connect with other players around the globe.

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.

Nanitor

Venture Round in 2022
Nanitor ehf., doing business as Nanitor, develops software solutions to provide cyber security services. The company develops Nanitor RISC platform to bridge compliance requirements and security functions and provides real-time security compliance through prioritized real-time overview of all cyber security issues using the Nanitor Dynamic RISC rating algorithm. It generates a comprehensive compliance report for the assets based on a defined scope, provides automatic on-boarding of new compliance frameworks, provides updated security feeds, performs security checks based on prioritization, and reports known vulnerabilities and misconfigurations in real time. Nanitor ehf. was founded in 2014 and is based in Kópavogur, Iceland.

GRID

Angel Round in 2018
GRID empowers every-day Excel users to turn their spreadsheets into modern web applications without learning any new skills. It enables the users to instantly turn any spreadsheet into a beautiful, interactive web document that can be securely shared and analyzed online.

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.

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

Series A in 2016
Oculis ehf, a clinical stage biotechnology company, focuses on the development of treatments (eye drops) for ophthalmic diseases for back and front of the eye. The company offers OC-118, a product candidate based on the solubilizing nanoparticle technology for diabetic macular edema and in front of the eye indications. It also provides its products for uveitis, chronic dry eye syndrome, glaucoma, and diabetic retinopathy. The company was founded in 2003 and is headquartered in Reykjavik, Iceland.

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.

ARK Technology

Series A in 2015
ARK Technology is an environmental management company that provides software solutions and advisory services for the maritime industry. They assist ship owners in monitoring the environmental impact of their ships and thereby reduce waste and operational costs. The digitization of the maritime industry simplifies regulatory compliance and administration by facilitating data sharing. Shipping companies that demonstrate good environmental performance on a continuing basis should be rewarded with a stronger market position and improved customer relations. ARK Technology was founded in 2013 and is funded both privately and through several grants such as the Icelandic Technology Development Fund and the Nordic Atlantic Cooperation (NORA) project fund. Their Headquarters are located in the central of Reykjavik, Iceland.

GRID

Seed Round in 2019
GRID empowers every-day Excel users to turn their spreadsheets into modern web applications without learning any new skills. It enables the users to instantly turn any spreadsheet into a beautiful, interactive web document that can be securely shared and analyzed online.

Nanitor

Seed Round in 2019
Nanitor ehf., doing business as Nanitor, develops software solutions to provide cyber security services. The company develops Nanitor RISC platform to bridge compliance requirements and security functions and provides real-time security compliance through prioritized real-time overview of all cyber security issues using the Nanitor Dynamic RISC rating algorithm. It generates a comprehensive compliance report for the assets based on a defined scope, provides automatic on-boarding of new compliance frameworks, provides updated security feeds, performs security checks based on prioritization, and reports known vulnerabilities and misconfigurations in real time. Nanitor ehf. was founded in 2014 and is based in Kópavogur, Iceland.

Laki Power

Venture Round in 2023
Laki Power is an Icelandic research and development company focused on eco-friendly power solutions. The company was established in 2015 around the development of its main product, the Power On-Line Generator (POLG). The shareholders of Laki Power are Rásmark ehf., a developer and manufacturer of electronic devices, especially for the telecom sector, Mannvit hf., a consultancy in the fields of engineering, technical services, and innovation, and Startup Energy Reykjavík, a seed stage investment program with a focus on energy-related projects.

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.

Oculis

Series B in 2018
Oculis ehf, a clinical stage biotechnology company, focuses on the development of treatments (eye drops) for ophthalmic diseases for back and front of the eye. The company offers OC-118, a product candidate based on the solubilizing nanoparticle technology for diabetic macular edema and in front of the eye indications. It also provides its products for uveitis, chronic dry eye syndrome, glaucoma, and diabetic retinopathy. The company was founded in 2003 and is headquartered in Reykjavik, Iceland.

Oculis

Series B in 2019
Oculis ehf, a clinical stage biotechnology company, focuses on the development of treatments (eye drops) for ophthalmic diseases for back and front of the eye. The company offers OC-118, a product candidate based on the solubilizing nanoparticle technology for diabetic macular edema and in front of the eye indications. It also provides its products for uveitis, chronic dry eye syndrome, glaucoma, and diabetic retinopathy. The company was founded in 2003 and is headquartered in Reykjavik, Iceland.

Ghostlamp

Venture Round in 2018
Ghostlamp ehf provides agencies and brands with a platform to launch influencer marketing campaigns. The company’s platform automates the process of finding, contracting and paying influencers. Ghostlamp ehf was founded in 2014 and is headquartered in Reykjavk, Iceland with additional office in Seattle, Washington.

Laki Power

Seed Round in 2019
Laki Power is an Icelandic research and development company focused on eco-friendly power solutions. The company was established in 2015 around the development of its main product, the Power On-Line Generator (POLG). The shareholders of Laki Power are Rásmark ehf., a developer and manufacturer of electronic devices, especially for the telecom sector, Mannvit hf., a consultancy in the fields of engineering, technical services, and innovation, and Startup Energy Reykjavík, a seed stage investment program with a focus on energy-related projects.

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.

EpiEndo Pharmaceuticals

Angel Round in 2019
EpiEndo Pharmaceuticals is a privately held Icelandic pharmaceutical company developing a proprietary portfolio of compounds with epithelial barrier enhancing properties. EpiEndo is seed-funded, privately held and in preclinical development.EpiEndo is focusing on chronic respiratory diseases. First clinical trials are planned for the year 2019.EpiEndo is run as an international virtual organization coordinated by a team that consists of founding CEO Dr. Fridrik Runar Gardarsson and COO & CFO Birgir Magnusson, who coordinate a network of specialized service providers.