Brunnur Ventures

Brunnur Ventures is a venture capital firm based in Reykjavik, Iceland, established in 2013. The firm focuses on investing in Icelandic start-ups and growth companies, while also having the capacity to invest internationally to support the expansion of its portfolio companies. Brunnur Ventures does not limit itself to a specific industry but targets entities with significant growth potential across various sectors. It serves as the General Partner of the Brunnur Venture Capital Fund, which has a total capital of USD 40 million.

Árni Blöndal

Founding Partner

Soffía Theódóra Tryggvadóttir

Partner

Oskar Fannar Vilmundarson

Associate

23 past transactions

PaxFlow

Seed Round in 2023
PaxFlow is a travel technology startup that helps tour operators to streamline operations with resource management, data based workflows, customer communication and self service tools.

Nanitor

Venture Round in 2022
Nanitor ehf., based in Kópavogur, Iceland, specializes in developing software solutions for cyber security services. The company’s flagship product, the Nanitor RISC platform, offers real-time security compliance by assessing IT assets for known vulnerabilities, missing security patches, and misconfigurations. Utilizing the Nanitor Dynamic RISC rating algorithm, the platform provides a prioritized overview of cyber security issues and generates comprehensive compliance reports tailored to specific scopes. Additionally, it facilitates the automatic onboarding of new compliance frameworks and delivers updated security feeds. Founded in 2014, Nanitor is dedicated to enabling organizations to effectively manage and remediate cyber security risks through focused compliance reporting and risk management.

Arctic Theory

Seed Round in 2022
The company's development prototype, called project existence 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 a company focused on digital product development and software solutions, specializing in the creation of a digital signature platform tailored for service-driven digital businesses in both the private and government sectors. The company assists organizations in redesigning and automating processes to enhance efficiency, reduce operational risks, and improve customer experiences. Taktikal offers services that include automated customer and workforce onboarding, as well as know-your-customer and anti-money laundering processes. Their solutions also encompass in-application electronic identity functionalities, enabling businesses to streamline processes that involve identification, authentication, and authorization.

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 is an Icelandic research and development company established in 2015, specializing in eco-friendly power solutions. The company focuses on innovative technologies, such as the Power On-Line Generator (POLG) and electromagnetic energy harvesting through its Powergrab system. Laki Power provides advanced monitoring services for overhead power lines, utilizing a line-powered monitoring system that includes optical and thermal cameras, weather stations, and sensors. This system enables real-time monitoring of conditions such as icing and wildfires while optimizing grid capacity through dynamic line rating. Laki Power's shareholders include Rásmark ehf., a developer of electronic devices, Mannvit hf., a consultancy in engineering and technical services, and Startup Energy Reykjavík, an investment program targeting energy-related projects. The company is headquartered in Reykjavik, Iceland.

IMS Vintage Photos

Seed Round in 2019
IMS Vintage Photos focuses on digitizing old photo archives while also providing original prints for collectors and heritage photo enthusiasts globally. The company specializes in converting physical images, photos, and prints into digital formats, which aids in preserving historical records. By partnering with newspaper archives and other entities, IMS Vintage Photos enables clients to safeguard their prints and make them accessible for future generations to appreciate their historical significance.

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., based in Kópavogur, Iceland, specializes in developing software solutions for cyber security services. The company’s flagship product, the Nanitor RISC platform, offers real-time security compliance by assessing IT assets for known vulnerabilities, missing security patches, and misconfigurations. Utilizing the Nanitor Dynamic RISC rating algorithm, the platform provides a prioritized overview of cyber security issues and generates comprehensive compliance reports tailored to specific scopes. Additionally, it facilitates the automatic onboarding of new compliance frameworks and delivers updated security feeds. Founded in 2014, Nanitor is dedicated to enabling organizations to effectively manage and remediate cyber security risks through focused compliance reporting and risk management.

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.

Oculis

Series B in 2019
Oculis is a clinical-stage biotechnology company dedicated to developing innovative topical treatments for ophthalmic diseases affecting both the anterior and posterior segments of the eye. Founded in 2003 and headquartered in Reykjavik, Iceland, Oculis utilizes a unique drug delivery platform that enhances drug absorption through a novel technique, enabling effective treatment of conditions such as diabetic macular edema, uveitis, chronic dry eye syndrome, glaucoma, and diabetic retinopathy with simple eye drops. This approach allows for non-invasive treatment of diseases at the back of the eye, traditionally requiring more complex methods, while also reducing the frequency of applications needed for anterior eye conditions. Oculis is committed to improving patient outcomes and enhancing the quality of life for individuals with vision-related health issues.

Ghostlamp

Venture Round in 2018
Ghostlamp ehf is a company that provides a self-serve platform for agencies and brands to launch influencer marketing campaigns globally. Founded in 2014 and headquartered in Reykjavik, Iceland, with an additional office in Seattle, Washington, Ghostlamp automates the processes of finding, contracting, and compensating influencers. The platform facilitates the creation of on-demand micro-influencer campaigns and allows for the measurement of campaign success while tracking all influencer-generated content. This enables brands to conduct targeted influencer marketing efficiently.

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.

Oculis

Series B in 2018
Oculis is a clinical-stage biotechnology company dedicated to developing innovative topical treatments for ophthalmic diseases affecting both the anterior and posterior segments of the eye. Founded in 2003 and headquartered in Reykjavik, Iceland, Oculis utilizes a unique drug delivery platform that enhances drug absorption through a novel technique, enabling effective treatment of conditions such as diabetic macular edema, uveitis, chronic dry eye syndrome, glaucoma, and diabetic retinopathy with simple eye drops. This approach allows for non-invasive treatment of diseases at the back of the eye, traditionally requiring more complex methods, while also reducing the frequency of applications needed for anterior eye conditions. Oculis is committed to improving patient outcomes and enhancing the quality of life for individuals with vision-related health issues.

Ghostlamp

Seed Round in 2017
Ghostlamp ehf is a company that provides a self-serve platform for agencies and brands to launch influencer marketing campaigns globally. Founded in 2014 and headquartered in Reykjavik, Iceland, with an additional office in Seattle, Washington, Ghostlamp automates the processes of finding, contracting, and compensating influencers. The platform facilitates the creation of on-demand micro-influencer campaigns and allows for the measurement of campaign success while tracking all influencer-generated content. This enables brands to conduct targeted influencer marketing efficiently.

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 is a clinical-stage biotechnology company dedicated to developing innovative topical treatments for ophthalmic diseases affecting both the anterior and posterior segments of the eye. Founded in 2003 and headquartered in Reykjavik, Iceland, Oculis utilizes a unique drug delivery platform that enhances drug absorption through a novel technique, enabling effective treatment of conditions such as diabetic macular edema, uveitis, chronic dry eye syndrome, glaucoma, and diabetic retinopathy with simple eye drops. This approach allows for non-invasive treatment of diseases at the back of the eye, traditionally requiring more complex methods, while also reducing the frequency of applications needed for anterior eye conditions. Oculis is committed to improving patient outcomes and enhancing the quality of life for individuals with vision-related health issues.

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 ehf. specializes in creating tailored music atmospheres for the retail and hospitality sectors, providing services across Denmark, Norway, Sweden, Iceland, Holland, and Germany. The company develops audio branding strategies based on a detailed analysis of customer demographics and brand objectives, delivering customized music profiles that enhance the in-store experience and drive customer engagement. In addition to consultancy services, ATMO Select offers a technological platform for streaming music and a proprietary hardware solution, designed to deliver a closed music streaming service to businesses. Founded in 2007 and headquartered in Reykjavík, Iceland, with offices in Amsterdam, Berlin, and Miami, the company has evolved from its previous identity as Gogoyoko ehf. into a comprehensive provider of audio solutions, including high-quality speakers and sound systems tailored for various environments.

ARK Technology

Series A in 2015
ARK Technology is an environmental management company specializing in software solutions and advisory services tailored for the maritime industry. Established in 2013 and headquartered in Reykjavik, Iceland, the company focuses on helping ship owners monitor and reduce the environmental impact of their vessels, thereby minimizing waste and operational costs. By digitizing the maritime sector, ARK Technology enhances regulatory compliance and streamlines administrative processes through effective data sharing. Their software integrates data from various sources to analyze environmental performance, which can be accessed via the ARK Enterprise interface. This enables shipping companies to improve their environmental practices, leading to better market positioning and enhanced customer relations. ARK Technology is funded through private investments and various grants, including support from the Icelandic Technology Development Fund and the Nordic Atlantic Cooperation project.
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