Crowberry Capital

Crowberry Capital invests at seed and early stage in outstanding teams building global businesses around true technology advantages. They work with their teams to build fast paced, international companies from the Nordics. They have a strong follow through philosophy. They back the best from seed to exit. The founding partners behind Crowberry Capital have worked together for over 7 years. The Crowberry team has managed over 51 technology start-ups, negotiated a total of 15 exits and made 17 seed investments. The Crowberry team has a Global outlook having lived and worked in a total of 8 countries on 4 continents.

Hekla Arnardóttir

Founding Partner

Jenný Ruth Hrafnsdóttir

Founding Partner

Helga Valfells

Founding and Managing Partner

26 past transactions

Lucinity

Series B in 2022
Lucinity Holding ehf. is a company that specializes in developing solutions for anti-money laundering (AML) efforts within the financial sector. Founded in 2018 and headquartered in Reykjavík, Iceland, with an office in New York, Lucinity offers a platform called ClearLens. This platform enables AML surveillance teams to identify suspicious behavior patterns, conduct pre-evaluation of cases, review those cases, and generate summaries, while also facilitating the collection of micro-feedback for continuous improvement. Lucinity's innovative approach aims to enhance the efficiency and effectiveness of AML processes for its clients.

Garden

Series A in 2022
Garden is a Kubernetes testing platform for every step of the development process. The widespread adoption of cloud native technologies such as containers and Kubernetes has made it easier than ever to operate and scale applications. But important developer workflows have been overlooked or neglected along the way. Many developers find that they’re now less productive than they were before the cloud native era. Testing is a critical part of the development process and one that’s in need of a major upgrade. Modern cloud native testing practices are largely driven by what’s feasible rather than what’s useful. Developers working on distributed microservices applications have been left without an efficient way to build, run tests, and troubleshoot in a production-like environment. Garden makes it easy to spin up ephemeral testing and preview environments for integration tests, manual QA, and development. With Garden, developers get fast feedback exactly when they need it, and DevOps teams are no longer bogged down with provisioning and managing ad hoc environments. The open source Garden Core is available on GitHub: https://github.com/garden-io/garden We also offer a fully supported enterprise edition: https://garden.io/product/

Rocky Road

Seed Round in 2022
Rocky Road intends to create the world's first casual open world mobile game based on real-world map data.

Mainframe Industries

Series B in 2021
Mainframe Industries is a Reykjavik, Iceland and Helsinki, Finland-based startup working on the development of an open world, social sandbox MMO for cloud gaming.The company will will work on an open-world, social sandbox MMO specifically designed for cloud gaming, with cross-platform play across mobile, PC, and TV. Mainframe believes that the promise of friction-free access from social networks and streaming platforms on the device of your choice will greatly expand the creative canvas for game developers.

Elsa

Seed Round in 2021
Elsa is a platform for patient driven research for better drugs, health and prevention. Elsa lets patients become their own personal researchers by providing them with a better understanding around how lifestyle factors may affect their disease activity measurements for chronic disease. To support them from a scientific perspective, Elsa gives them access to data on their specific disease (initially we work with rheumatoid arthritis) through the Riskminder foundation and scientific studies at Karolinska Institutet.

1939

Venture Round in 2021
1939 Games ehf. is an indie game development studio based in Reykjavík, Iceland, founded in 2015 by former veterans of CCP. The company specializes in creating World War II-themed gaming experiences, with a primary focus on developing a digital collectible card game titled KARDS. This game integrates familiar elements from the card game genre while incorporating classic World War II themes, aiming to deliver an engaging and action-packed experience for players. By blending historical facts with gameplay, 1939 Games seeks to provide a unique role-playing experience that appeals to both card game enthusiasts and history buffs alike.

Clutch

Pre Seed Round in 2021
Clutch uses on-device AI to turn every smartphone into the world's best virtual coach and the first social platform for racket sports. The co-founders come from the intersection of pro badminton and tech.

Fractal 5

Seed Round in 2021
Fractal 5 is a startup just exiting stealth mode and building a new social product. The company was founded in 2020 by Gudmundur Hafsteinsson and is based in Reykjavik, Iceland.

Dreamdata

Seed Round in 2020
Dreamdata is a Copenhagen-based company that specializes in B2B revenue attribution through its software solution, designed to help enterprises track and optimize their marketing channels and activities. Founded in 2018, Dreamdata addresses the challenges marketers face in connecting their activities to revenue amidst complex buyer journeys and numerous touchpoints. The platform integrates various commercial data sources with behavioral data to provide a comprehensive view of the customer journey, enabling users to analyze the effectiveness of individual campaigns and their return on investment. Dreamdata empowers small to midsize B2B companies to make data-driven decisions by offering actionable insights into marketing performance, helping them identify which campaigns to scale or discontinue. Its user-friendly interface allows for detailed attribution analysis across pipeline stages, fostering alignment between marketing and sales teams. With Dreamdata, organizations can enhance transparency in their revenue generation efforts, often resulting in significant improvements in marketing ROI.

Garden

Seed Round in 2020
Garden is a Kubernetes testing platform for every step of the development process. The widespread adoption of cloud native technologies such as containers and Kubernetes has made it easier than ever to operate and scale applications. But important developer workflows have been overlooked or neglected along the way. Many developers find that they’re now less productive than they were before the cloud native era. Testing is a critical part of the development process and one that’s in need of a major upgrade. Modern cloud native testing practices are largely driven by what’s feasible rather than what’s useful. Developers working on distributed microservices applications have been left without an efficient way to build, run tests, and troubleshoot in a production-like environment. Garden makes it easy to spin up ephemeral testing and preview environments for integration tests, manual QA, and development. With Garden, developers get fast feedback exactly when they need it, and DevOps teams are no longer bogged down with provisioning and managing ad hoc environments. The open source Garden Core is available on GitHub: https://github.com/garden-io/garden We also offer a fully supported enterprise edition: https://garden.io/product/

Avo

Seed Round in 2020
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.

Avo

Seed Round in 2020
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.

Lucinity

Series A in 2020
Lucinity Holding ehf. is a company that specializes in developing solutions for anti-money laundering (AML) efforts within the financial sector. Founded in 2018 and headquartered in Reykjavík, Iceland, with an office in New York, Lucinity offers a platform called ClearLens. This platform enables AML surveillance teams to identify suspicious behavior patterns, conduct pre-evaluation of cases, review those cases, and generate summaries, while also facilitating the collection of micro-feedback for continuous improvement. Lucinity's innovative approach aims to enhance the efficiency and effectiveness of AML processes for its clients.

1939

Venture Round in 2020
1939 Games ehf. is an indie game development studio based in Reykjavík, Iceland, founded in 2015 by former veterans of CCP. The company specializes in creating World War II-themed gaming experiences, with a primary focus on developing a digital collectible card game titled KARDS. This game integrates familiar elements from the card game genre while incorporating classic World War II themes, aiming to deliver an engaging and action-packed experience for players. By blending historical facts with gameplay, 1939 Games seeks to provide a unique role-playing experience that appeals to both card game enthusiasts and history buffs alike.

Mainframe Industries

Series A in 2020
Mainframe Industries is a Reykjavik, Iceland and Helsinki, Finland-based startup working on the development of an open world, social sandbox MMO for cloud gaming.The company will will work on an open-world, social sandbox MMO specifically designed for cloud gaming, with cross-platform play across mobile, PC, and TV. Mainframe believes that the promise of friction-free access from social networks and streaming platforms on the device of your choice will greatly expand the creative canvas for game developers.

Elsa

Seed Round in 2020
Elsa is a platform for patient driven research for better drugs, health and prevention. Elsa lets patients become their own personal researchers by providing them with a better understanding around how lifestyle factors may affect their disease activity measurements for chronic disease. To support them from a scientific perspective, Elsa gives them access to data on their specific disease (initially we work with rheumatoid arthritis) through the Riskminder foundation and scientific studies at Karolinska Institutet.

Mainframe Industries

Seed Round in 2019
Mainframe Industries is a Reykjavik, Iceland and Helsinki, Finland-based startup working on the development of an open world, social sandbox MMO for cloud gaming.The company will will work on an open-world, social sandbox MMO specifically designed for cloud gaming, with cross-platform play across mobile, PC, and TV. Mainframe believes that the promise of friction-free access from social networks and streaming platforms on the device of your choice will greatly expand the creative canvas for game developers.

Lucinity

Seed Round in 2019
Lucinity Holding ehf. is a company that specializes in developing solutions for anti-money laundering (AML) efforts within the financial sector. Founded in 2018 and headquartered in Reykjavík, Iceland, with an office in New York, Lucinity offers a platform called ClearLens. This platform enables AML surveillance teams to identify suspicious behavior patterns, conduct pre-evaluation of cases, review those cases, and generate summaries, while also facilitating the collection of micro-feedback for continuous improvement. Lucinity's innovative approach aims to enhance the efficiency and effectiveness of AML processes for its clients.

Kind

Seed Round in 2019
We want all healthcare providers to enjoy the benefits of modern communication. Kind is a secure cloud platform for communication and knowledge sharing. We meet the needs of organizations of all sizes with our flexible subscription model.

Monerium

Seed Round in 2019
Monerium ehf. is a regulated financial services company that specializes in issuing asset-backed, redeemable e-money on blockchains. Founded in 2015 and headquartered in Reykjavik, Iceland, Monerium operates in Sweden, the United States, and the United Kingdom. The company aims to enhance the accessibility, security, and simplicity of currency transactions by enabling individuals to store and use virtual currency without relying on traditional financial institutions. Monerium's first release of its e-money, known as Smart Money, was launched on the Ethereum blockchain in 2019. The company's founding team brings diverse expertise from fields such as central banking, finance, blockchain technology, biotech, and cloud services.

Elsa

Seed Round in 2018
Elsa is a platform for patient driven research for better drugs, health and prevention. Elsa lets patients become their own personal researchers by providing them with a better understanding around how lifestyle factors may affect their disease activity measurements for chronic disease. To support them from a scientific perspective, Elsa gives them access to data on their specific disease (initially we work with rheumatoid arthritis) through the Riskminder foundation and scientific studies at Karolinska Institutet.

1939

Seed Round in 2018
1939 Games ehf. is an indie game development studio based in Reykjavík, Iceland, founded in 2015 by former veterans of CCP. The company specializes in creating World War II-themed gaming experiences, with a primary focus on developing a digital collectible card game titled KARDS. This game integrates familiar elements from the card game genre while incorporating classic World War II themes, aiming to deliver an engaging and action-packed experience for players. By blending historical facts with gameplay, 1939 Games seeks to provide a unique role-playing experience that appeals to both card game enthusiasts and history buffs alike.

Aldin Dynamics

Seed Round in 2018
Aldin® is an Icelandic VR software company founded in early 2013, focused on creating believable virtual reality experiences and technologies to sustain presence & immersion. Since its founding, the Aldin team has passionately worked towards capturing experiences that are only possible in VR, in ways that entertain and inspire diverse audiences. To achieve believable reality experiences Aldin has built a base of new XR technologies, design methods and production techniques over the course of several years. A cornerstone of the company’s technological foundation is behavior analysis, enabling more convincing VR AI character reactions and powering the Ghostline® XR toolsuite to enhance design and production of immersive content. Over 250,000 users have played Waltz of the Wizard®, Aldin's most recent experience, which was an honoree in the 2016 Proto Awards for Best Interaction Design and held the #1 spot as the highest rated VR app on Steam in 2017.

Kara Connect

Seed Round in 2018
Kara connect ehf. operates a tele practice platform for healthcare, education, and other services. Its platform connects service providers in education and health care on one hand and patients and organizations on the other for professional help. The company was founded in 2014 and is based in Reykjavík, Iceland.

Travelade

Seed Round in 2017
Travelade, Inc. is a travel platform that assists millennials in discovering and booking travel activities tailored to their preferences. Founded in 2016 and headquartered in Reykjavik, Iceland, with an additional office in Palo Alto, California, the company enables users to plan their trips using insights from travel bloggers and professional tour operators. Travelade offers the world's largest collection of crowdsourced travel guides, allowing users to create and customize their own Wanderguide, which can be shared and monetized by reselling local tours and activities. The platform aims to enhance the travel experience by making it easier for individuals to access authentic holiday activities and recommendations.