Frumtak GP

Frumtak GP is a venture capital firm based in Reykjavik, Iceland, established in 2008. The firm specializes in post-seed and early-stage investments, focusing primarily on technology and innovative companies with growth potential. It typically invests between ISK50 million and ISK500 million in its portfolio companies, aiming to hold these investments for three to five years. While Frumtak GP primarily targets investments within Iceland, it is open to opportunities abroad to enhance the success of its portfolio. The firm actively participates on the boards of its investee companies, promoting collaboration with stakeholders in both the local and international start-up and innovation communities. Frumtak GP operates through its funds, including Frumtak I and Frumtak II, the latter of which emphasizes foreign market growth for innovative enterprises.

Eggert Claessen

Partner

Svana Gunnarsdottir

Managing Partner

Ásthildur Otharsdóttir

Partner

Rakel Sigurdardottir

CFO

29 past transactions

SidekickHealth

Series B in 2022
SidekickHealth is a digital therapeutics company focused on preventing and managing chronic diseases. It leverages behavioral economics, gamification, and artificial intelligence to create engaging experiences that facilitate behavior change and enhance health and well-being. The company collaborates with pharmaceutical companies and other organizations to develop personalized lifestyle change programs aimed at improving health outcomes and treatment adherence. Additionally, SidekickHealth connects clinical experts with patient communities and provides data insights to address significant health challenges. Its lifestyle companion app serves as a tool to support individuals on their health journeys.

Ankeri Solutions

Seed Round in 2021
Ankeri develops cloud based software solution focusing on ship performance from the perspective of charter parties i.e. contracts. Ankeri is a team with extensive experience from over 25 combined years of marketing, designing and developing software products for the shipping industry. Ankeri was founded on 1st December 2016.

Meniga

Venture Round in 2021
Meniga Ltd is a digital banking platform that specializes in developing white-label solutions for banks, businesses, and individuals to manage their financial data effectively. Founded in 2013 and based in London, the company offers a range of products, including personal finance management tools, data aggregation, and transaction-based insights. Meniga's solutions encompass automated real-time notifications, predictive analytics, and personalized user engagement, as well as marketing products that provide card-linked offers and consumer data analytics. By focusing on modular and customizable solutions, Meniga aims to enhance the financial technology landscape, enabling clients to leverage big data and analytics to improve their services.

SidekickHealth

Series A in 2020
SidekickHealth is a digital therapeutics company focused on preventing and managing chronic diseases. It leverages behavioral economics, gamification, and artificial intelligence to create engaging experiences that facilitate behavior change and enhance health and well-being. The company collaborates with pharmaceutical companies and other organizations to develop personalized lifestyle change programs aimed at improving health outcomes and treatment adherence. Additionally, SidekickHealth connects clinical experts with patient communities and provides data insights to address significant health challenges. Its lifestyle companion app serves as a tool to support individuals on their health journeys.

Controlant

Series B in 2020
Controlant’s mission is to deliver value across the end-to-end supply chain by dramatically increasing visibility of product flow and condition quality while minimizing waste through a completely new category of automated Cold Chain as a Service® solutions. Using its IoT, cloud-enabled advanced analytics, API connectivity, and cost-reducing operational services, customers are achieving an annualized ROI and millions in savings, reducing material losses, and enhancing the reliability of their operations. Controlant is empowering world-leading companies in the pharmaceuticals & life sciences and food & beverage sectors and their supply chain stakeholders to achieve greater efficiency by automating their business processes and optimizing communication through technology.

Meniga

Corporate Round in 2020
Meniga Ltd is a digital banking platform that specializes in developing white-label solutions for banks, businesses, and individuals to manage their financial data effectively. Founded in 2013 and based in London, the company offers a range of products, including personal finance management tools, data aggregation, and transaction-based insights. Meniga's solutions encompass automated real-time notifications, predictive analytics, and personalized user engagement, as well as marketing products that provide card-linked offers and consumer data analytics. By focusing on modular and customizable solutions, Meniga aims to enhance the financial technology landscape, enabling clients to leverage big data and analytics to improve their services.

Controlant

Venture Round in 2020
Controlant’s mission is to deliver value across the end-to-end supply chain by dramatically increasing visibility of product flow and condition quality while minimizing waste through a completely new category of automated Cold Chain as a Service® solutions. Using its IoT, cloud-enabled advanced analytics, API connectivity, and cost-reducing operational services, customers are achieving an annualized ROI and millions in savings, reducing material losses, and enhancing the reliability of their operations. Controlant is empowering world-leading companies in the pharmaceuticals & life sciences and food & beverage sectors and their supply chain stakeholders to achieve greater efficiency by automating their business processes and optimizing communication through technology.

Kaptio

Seed Round in 2018
Kaptio ehf. is a provider of enterprise Software-as-a-Service solutions tailored for the travel industry, operating primarily in Iceland and the United Kingdom. Founded in 2012, the company offers Kaptio Travel, a comprehensive system designed for travel service providers, including tour operators, hotels, and travel agencies. This platform facilitates the management of the Proposal-to-Operation lifecycle and enhances relationships with customers, suppliers, and agents. Kaptio's solutions are built on the Salesforce Platform, allowing travel companies to move away from outdated systems and improve customer experience while achieving operational efficiencies. Additionally, Kaptio offers various services such as implementation, integration strategy, cloud integration management, and custom application development. The company is headquartered in Kopavogi, Iceland, with additional offices in Heidelberg, Germany, and the United Kingdom.

Meniga

Venture Round in 2017
Meniga Ltd is a digital banking platform that specializes in developing white-label solutions for banks, businesses, and individuals to manage their financial data effectively. Founded in 2013 and based in London, the company offers a range of products, including personal finance management tools, data aggregation, and transaction-based insights. Meniga's solutions encompass automated real-time notifications, predictive analytics, and personalized user engagement, as well as marketing products that provide card-linked offers and consumer data analytics. By focusing on modular and customizable solutions, Meniga aims to enhance the financial technology landscape, enabling clients to leverage big data and analytics to improve their services.

SidekickHealth

Seed Round in 2017
SidekickHealth is a digital therapeutics company focused on preventing and managing chronic diseases. It leverages behavioral economics, gamification, and artificial intelligence to create engaging experiences that facilitate behavior change and enhance health and well-being. The company collaborates with pharmaceutical companies and other organizations to develop personalized lifestyle change programs aimed at improving health outcomes and treatment adherence. Additionally, SidekickHealth connects clinical experts with patient communities and provides data insights to address significant health challenges. Its lifestyle companion app serves as a tool to support individuals on their health journeys.

Valka

Venture Round in 2017
Valka ehf is a company based in Kópavogur, Iceland, specializing in the development and marketing of advanced weighing and grading equipment for the fish processing industry. Founded in 2003, Valka offers a variety of innovative solutions including the RapidFeed infeed control machine, the RapidWeigher automatic multi-head weigher, and the RapidAligner, which grades and packs salmon fillets. Additionally, Valka provides an online fish trading platform called RapidTrade, and several other products designed to enhance productivity and efficiency in fish processing operations. The company also offers consultancy and advisory services related to equipment selection, technical layouts, and software installation. Valka has established a strong international presence, selling its products through resellers in various countries, and directly to customers as needed. With a commitment to innovation, Valka holds multiple patents and continually seeks to improve its offerings to meet the evolving needs of its clients in the seafood industry.

Meniga

Venture Round in 2016
Meniga Ltd is a digital banking platform that specializes in developing white-label solutions for banks, businesses, and individuals to manage their financial data effectively. Founded in 2013 and based in London, the company offers a range of products, including personal finance management tools, data aggregation, and transaction-based insights. Meniga's solutions encompass automated real-time notifications, predictive analytics, and personalized user engagement, as well as marketing products that provide card-linked offers and consumer data analytics. By focusing on modular and customizable solutions, Meniga aims to enhance the financial technology landscape, enabling clients to leverage big data and analytics to improve their services.

Data Dwell

Seed Round in 2016
Data Dwell ehf operates a cloud-based platform designed to automate and streamline branding operations, enhancing brand reinforcement. Founded in 2012 and based in Reykjavik, Iceland, with additional locations in London and Palo Alto, the platform enables users to upload and manage various digital assets, including documents, images, and videos. Its services cater to a diverse clientele, including marketers, designers, sales professionals, agencies, and distributors. By integrating high-performance sales and marketing tools, Data Dwell supports businesses in optimizing their customer relationship management (CRM) processes and improving overall revenue generation.

Tulipop

Series A in 2016
The enchanting world of Tulipop, dreamt up by mother of two Signy and brought to market by her best friend Helga, is an original, beautiful and magical children's range unlike any other. Both cuddly and gothic and strongly inspired by forms and colours in nature, the Tulipop world features intriguing characters such as Bubble, a shy and dreamy mushroom boy and Gloomy, an adventurous mushroom girl, who loves surprises and cheeky little pranks - challenging gender stereotypes.

Kaptio

Seed Round in 2016
Kaptio ehf. is a provider of enterprise Software-as-a-Service solutions tailored for the travel industry, operating primarily in Iceland and the United Kingdom. Founded in 2012, the company offers Kaptio Travel, a comprehensive system designed for travel service providers, including tour operators, hotels, and travel agencies. This platform facilitates the management of the Proposal-to-Operation lifecycle and enhances relationships with customers, suppliers, and agents. Kaptio's solutions are built on the Salesforce Platform, allowing travel companies to move away from outdated systems and improve customer experience while achieving operational efficiencies. Additionally, Kaptio offers various services such as implementation, integration strategy, cloud integration management, and custom application development. The company is headquartered in Kopavogi, Iceland, with additional offices in Heidelberg, Germany, and the United Kingdom.

Controlant

Funding Round in 2016
Controlant’s mission is to deliver value across the end-to-end supply chain by dramatically increasing visibility of product flow and condition quality while minimizing waste through a completely new category of automated Cold Chain as a Service® solutions. Using its IoT, cloud-enabled advanced analytics, API connectivity, and cost-reducing operational services, customers are achieving an annualized ROI and millions in savings, reducing material losses, and enhancing the reliability of their operations. Controlant is empowering world-leading companies in the pharmaceuticals & life sciences and food & beverage sectors and their supply chain stakeholders to achieve greater efficiency by automating their business processes and optimizing communication through technology.

Activity Stream

Seed Round in 2015
Activity Stream Ltd. specializes in developing applications that transform underutilized business data into actionable intelligence and insights. Founded in 2013 and based in Reykjavik, Iceland, the company serves various industries including commerce, banking, insurance, telecommunications, airlines, and manufacturing. Its platform observes activities across an organization's business systems to create a comprehensive view of operations, allowing for the recognition of patterns, opportunities, and threats in real time. By providing timely intelligence to relevant stakeholders, Activity Stream enables organizations to proactively address challenges and capitalize on opportunities. The company's Operational Intelligence Layer can be seamlessly integrated into existing IT infrastructure without the need for extensive system overhauls.

Watchbox

Seed Round in 2015
Watchbox is a technology-driven platform designed to enhance social interaction among employees by facilitating the sharing of photos and short videos. Its mobile application allows users to easily create and share content within private groups or publicly, fostering a sense of community in both local and distributed teams. Users can follow others to stay updated on the latest posts and can search for specific videos, promoting engagement and connection. Additionally, Watchbox features dedicated display units placed in common areas, showcasing highlights from work events, celebrations, and personal moments, which reinforces a positive workplace culture. Through innovative concepts, Watchbox aims to motivate diverse content creation and strengthen team dynamics.

Arctic Trucks

Venture Round in 2015
Arctic Trucks was established in Iceland in 1990 and specialises in the re-engineering and conversion of four-wheel drive vehicles for extreme conditions. Over the years, Arctic Trucks have built an unparalleled level of expertise in developing vehicles to deliver handling, safety and reliability improvements both on and off road. Their development engineers have accompanied many of these expeditions so they can understand, first hand, the challenges the vehicles they design will need to conquer. This unique insight and experience means they have been able to tame environments their competitors simply do not account for. Their cars have driven to both poles. They visited the magnetic North Pole with BBC Top Gear, and in the Antarctic a fleet of four and six wheel-drive vehicles are used by scientists to support their work, all under the most extreme conditions their planet has to offer. Arctic Trucks vehicles also set the record for the fastest journey to the South Pole in 2010. However, you don't need to be a polar explorer to own an Arctic Truck, their vehicles are just as at home in the wilds of the countryside or in the city.

Meniga

Series A in 2013
Meniga Ltd is a digital banking platform that specializes in developing white-label solutions for banks, businesses, and individuals to manage their financial data effectively. Founded in 2013 and based in London, the company offers a range of products, including personal finance management tools, data aggregation, and transaction-based insights. Meniga's solutions encompass automated real-time notifications, predictive analytics, and personalized user engagement, as well as marketing products that provide card-linked offers and consumer data analytics. By focusing on modular and customizable solutions, Meniga aims to enhance the financial technology landscape, enabling clients to leverage big data and analytics to improve their services.

Cintamani

Venture Round in 2013
Cintamani Ltd. is an Icelandic company specializing in the manufacture and sale of outdoor clothing for men, women, children, and infants. Founded in 1994, the company produces a diverse range of products, including coats, jackets, jumpers, pants, dresses, and accessories such as backpacks, hats, and gloves. Originally established to protect Icelanders from harsh Arctic winters, Cintamani has evolved over the years to become one of the largest outdoor brands in Iceland, known for its commitment to quality and functionality. The company distributes its products through its own stores and various retailers across several countries, including Austria, Denmark, Canada, Norway, Switzerland, and Germany. Cintamani aims to meet the needs of outdoor enthusiasts while also providing stylish options for everyday wear.

DataMarket

Series A in 2011
DataMarket helps professionals find and understand data. DataMarket brings complex and diverse data together in one place and one format so it can be searched, compared, visualized and shared – across teams, organizations or with the world. DataMarket gives enterprises a comprehensive view of their business environment. With syndicated, proprietary and public data at users’ fingertips, plans and decisions are based upon the best information available. Information companies use our technology to deliver data more efficiently and make it more engaging and valuable to their customers. DataMarket is licensed to enterprises and data publishers as a white-label SaaS solution and includes seamless access to our ever-expanding collection of facts and figures from leading global data providers. Creating an individual account on datamarket.com is free, so anyone can search and visualize public domain data, upload their own, purchase premium content, and share their findings.

InfoMentor

Venture Round in 2010
InfoMentor is a prominent provider of cloud-based teaching and learning solutions aimed at fostering the full potential of students. By integrating curriculum planning, pupil assessment, progress analysis, and parental engagement into a single platform, InfoMentor creates an efficient learning environment that connects teachers, students, and parents. This approach enables educators to tailor their teaching to meet the specific needs of their schools while maximizing their time for direct student engagement. The company's mission is to facilitate optimal conditions for learning, ensuring that all pupils can thrive in their educational journeys.

MainManager

Venture Round in 2010
MainManager is a company based in Reykjavík, Iceland, established in 1994, specializing in computer-aided facility management software designed for the operation and maintenance of properties across Europe. Its software suite includes various solutions such as City Direct, which focuses on the improvement and maintenance of public infrastructure including buildings and streets; Energy Management, which helps monitor and manage energy efficiency; Maintenance & Operations for property management; Project Management for evaluating and analyzing project aspects; and Property Management for overseeing property portfolios. MainManager's software has been utilized to maintain thousands of properties, providing users with a comprehensive overview of their assets and enabling efficient management of energy consumption and related expenditures. As of December 2020, MainManager operates as a subsidiary of View Software AS.

Handpoint

Seed Round in 2009
HandPoint ehf. develops handheld software solutions for the retail and distribution, energy, preventive maintenance, market research, and healthcare sectors. The company’s products include handPoint Retail, an application that transfers retail tasks to handheld; handPoint Orbit, a quality management tool that transfers data to handheld computers; and handPoint Meter, a PalmOS based meter-reading solution. Its clients include ATV, Byko, Jacodan, Medcare, and Gallup. HandPoint ehf. was founded in 1999 and is based in Kopavogur, Iceland with an additional office in Denmark.

AGR Dynamics

Funding Round in 2009
AGR Dynamics ehf. provides supply chain management software. It offers AGR, a web based solution that features automatic sales forecasts based on proven statistical methods, automatic order schedules, inventory optimization, creating exception reports to identify items, sales planning, creating purchase plans for future periods to increase vendor collaboration and information sharing, and container optimization. The company also offers Retail Crest, a retail management tool for mobiles or tablets that analyses retail POS data, such as average basket size, hourly sales, number of visitors converted into customers, and more. In addition, it specializes in consulting, implementation, and the maintenance of supply chain management solutions and support in logistics. The company was founded in 1997 and is based in Reykjavik, Iceland with location in the United Kingdom and Denmark.

Trackwell

Seed Round in 2009
Trackwell Ltd is an Icelandic company established in 1996, developing solutions for wireless communication networks. Trackwell has a proven track record in developing mission-critical systems for telecom operators, governmental institutions and other organisations. An innovative team of professionals with vast experience has established the company as a leading provider of Mobile Resource Management (MRM) solutions delivered as software as a service (SaaS) for enterprises. Trackwell MRM provides companies with tools to manage their resources: employees, vehicles, vessels and other mobile assets including functionality like time-, task-, and fleet management. Hundreds of companies manage thousands of employees and over ten thousand land, sea and air-borne vehicles via the Trackwell MRM systems, every day. The Trackwell Mobile Resource Management offer state of the art services to manage their fleet and workforce.