Crowberry Capital

Crowberry Capital invests at seed and early stage in outstanding teams building global businesses around true technology advantages. We work with our teams to build fast paced, international companies from the Nordics. We have a strong follow through philosophy. We 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 Arnardottir

Founding Partner

Jenny Ruth Hrafnsdottir

Founding Partner

Helga Valfells

Founding and Managing Partner

Past deals in Iceland

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/

1939 Games ehf.

Venture Round in 2021
1939 Games is a indie game development studio based in Reykjavik, Iceland. They are focused on WWII gaming experiences and are currently working on a digital collectible card game that goes by the name of KARDS. The game will draw familiar elements from the card game genre and fuse them with classic WWII gaming for an elegant, action packed and fun card game. 1939 Games was founded around the KARDS project in 2015 by former CCP veterans.

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.

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.

Lucinity Holding ehf.

Series A in 2020
Lucinity Holding ehf. develops ClearLens, a platform for financial companies to prevent and detect money laundering. Its platform allows anti-money-laundering surveillance team to detect suspicious behavior patterns, perform pre-evaluation cases, review cases, produce summaries for cases, and collect micro-feedback in various learning cycles. Lucinity Holding ehf. was founded in 2018 and is based in Reykjavík, Iceland with an additional office in New York, New York.

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.

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.

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.

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/

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.

1939 Games ehf.

Venture Round in 2020
1939 Games is a indie game development studio based in Reykjavik, Iceland. They are focused on WWII gaming experiences and are currently working on a digital collectible card game that goes by the name of KARDS. The game will draw familiar elements from the card game genre and fuse them with classic WWII gaming for an elegant, action packed and fun card game. 1939 Games was founded around the KARDS project in 2015 by former CCP veterans.

Lucinity Holding ehf.

Series B in 2022
Lucinity Holding ehf. develops ClearLens, a platform for financial companies to prevent and detect money laundering. Its platform allows anti-money-laundering surveillance team to detect suspicious behavior patterns, perform pre-evaluation cases, review cases, produce summaries for cases, and collect micro-feedback in various learning cycles. Lucinity Holding ehf. was founded in 2018 and is based in Reykjavík, Iceland with an additional office in New York, New York.

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.

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.

dreamdata.io

Seed Round in 2020
DREAMDATA.IO APS designs and develops a software solution that enables enterprises to track and optimize marketing channels and activities. It allows users to analyze marketing channels and touch points with high revenue stream. The company enables users to track effectiveness of individual campaigns, return on investment from campaigns, new trends in demand, and demand generation opportunities. In addition, it allows users to analyze funnel velocity from active demand and how content drives conversions and revenue. DREAMDATA.IO APS was founded in 2018 and is based in Copenhagen, Denmark.

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.

Monerium

Seed Round in 2019
Monerium is a regulated financial services company making currency more accessible, secure, and simple to transact. By issuing global e-money, individuals are able to store and use virtual currency without the need for financial institutions. Monerium was founded in 2015 by a team with diverse backgrounds, including central banking & finance, blockchain, biotech, and cloud services. The company has raised $2M in funding, including ConsenSys, Crowberry Capital, and Hof Holdings. The first release of Smart Money (e-money) will be on Ethereum in 2019. Follow us on Github: https://github.com/monerium/

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.

Lucinity Holding ehf.

Seed Round in 2019
Lucinity Holding ehf. develops ClearLens, a platform for financial companies to prevent and detect money laundering. Its platform allows anti-money-laundering surveillance team to detect suspicious behavior patterns, perform pre-evaluation cases, review cases, produce summaries for cases, and collect micro-feedback in various learning cycles. Lucinity Holding ehf. was founded in 2018 and is based in Reykjavík, Iceland with an additional office in New York, New York.

1939 Games ehf.

Seed Round in 2018
1939 Games is a indie game development studio based in Reykjavik, Iceland. They are focused on WWII gaming experiences and are currently working on a digital collectible card game that goes by the name of KARDS. The game will draw familiar elements from the card game genre and fuse them with classic WWII gaming for an elegant, action packed and fun card game. 1939 Games was founded around the KARDS project in 2015 by former CCP veterans.

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.

Travelade, Inc.

Seed Round in 2017
Travelade - the online travel platform allowing tourists to discover, plan, and book more authentic holiday activities by providing them with the world’s largest collection of crowdsourced travel guides Anyone who loves to share travel tips with friends, visitors or customers can create and customize their Wanderguide within minutes — and start reselling local tours and activities immediately for a commission. As easy creating a Pinterest board and as actionable as Shopify, Travelade is reinventing how people share travel recommendations and discover things to do and see.