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

Past deals in Iceland

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.

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.

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., 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.

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 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.

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 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.

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 various sectors, including retail, hospitality, leisure, restaurants, and public spaces across Denmark, Norway, Sweden, Iceland, the Netherlands, and Germany. The company offers consultancy services to develop audio branding strategies that align with client brands and objectives, utilizing customer demographics to craft detailed music profiles. ATMO Select also has a technological platform for streaming music over the Internet and provides a proprietary music box that delivers a closed music streaming solution to businesses. Founded in 2007 and formerly known as Gogoyoko ehf., the company rebranded to ATMO Select in 2014 and maintains its headquarters in Reykjavík, Iceland, with additional offices in Amsterdam, Berlin, and Miami.

ARK Technology

Series A in 2015
ARK Technology is an environmental management company based in Reykjavik, Iceland, specializing in software solutions and advisory services for the maritime industry. Founded in 2013, the company aids ship owners in monitoring their vessels' environmental impact, which helps reduce waste and operational costs. By digitizing various aspects of the maritime sector, ARK Technology facilitates regulatory compliance and data sharing, streamlining administrative processes. This focus on sustainability enables shipping companies to enhance their environmental performance, potentially leading to a stronger market position and improved customer relations. ARK Technology is supported by private funding as well as grants from entities like the Icelandic Technology Development Fund and the Nordic Atlantic Cooperation project fund.