Frumtak Ventures

Founded in 2008, Frumtak Ventures is a venture capital firm based in Reykjavik, Iceland. It invests in early-stage technology companies with a focus on software and artificial intelligence, demonstrating early traction and potential for global leadership.

Eggert Claessen

Founding Partner

Andri Heiðar Kristinsson

Partner

Ásthildur Otharsdóttir

Partner

Rakel Sigurðardóttir

CFO

Past deals in Iceland

Kaptio

Seed Round in 2018
Founded in 2012, Kaptio specializes in enterprise Software-as-a-Service solutions for the travel industry. It offers Kaptio Travel, a platform designed to manage the Proposal-to-Operation lifecycle and relationship management with customers, suppliers, and agents for travel service providers. The company also provides implementation services, cloud integration management, and custom application development.

Tulipop

Series A in 2016
Tulipop is a unique children's brand, founded by Signy and Helga, offering an enchanting range of products inspired by nature and featuring original, whimsical characters like Bubble and Gloomy. Their online retail platform sells a variety of collectibles, including vinyl figurines, plush toys, and accessories, challenging traditional gender stereotypes.

Kaptio

Seed Round in 2016
Founded in 2012, Kaptio specializes in enterprise Software-as-a-Service solutions for the travel industry. It offers Kaptio Travel, a platform designed to manage the Proposal-to-Operation lifecycle and relationship management with customers, suppliers, and agents for travel service providers. The company also provides implementation services, cloud integration management, and custom application development.

Arctic Trucks

Venture Round in 2015
Arctic Trucks, founded in Iceland in 1990, specializes in the re-engineering and conversion of four-wheel drive vehicles designed for extreme conditions. The company has developed significant expertise in enhancing vehicle handling, safety, and reliability for both on and off-road applications. Arctic Trucks' development engineers have actively participated in various expeditions, gaining firsthand knowledge of the unique challenges these vehicles must overcome. This experience allows the company to create vehicles capable of navigating some of the planet's harshest environments, including expeditions to both the North and South Poles. Notably, Arctic Trucks set a record for the fastest journey to the South Pole in 2010. While their vehicles excel in extreme conditions, they are also suitable for everyday use, whether in rugged countryside or urban settings, making them versatile for a range of outdoor adventures.

Cintamani

Venture Round in 2013
Cintamani Ltd. is an Icelandic outdoor clothing brand founded in 1994 and based in Garðabær, Iceland. Initially established to create clothing prototypes for protection against severe Arctic winters, the company has evolved into one of the largest outdoor brands in Iceland. Cintamani manufactures and sells a wide range of outdoor apparel for women, men, children, and infants, including coats, jackets, jumpers, pants, dresses, and accessories like backpacks, hats, and gloves. The brand emphasizes high-quality, technologically advanced products that cater to both outdoor enthusiasts and everyday wear needs. Cintamani distributes its products through physical stores and various retailers across several countries, including Austria, Denmark, Canada, Norway, Switzerland, and Germany.

AGR Dynamics

Funding Round in 2009
AGR Dynamics is a company that specializes in supply chain management software, offering a comprehensive solution known as AGR. This software features tools for exception management, inventory optimization, and sales management, designed to enhance the efficiency and profitability of supply chain operations. Founded in 1997, AGR Dynamics has built a strong presence with a team of 43 employees across Iceland, the UK, and Denmark, providing consulting, implementation, and maintenance services to a diverse clientele, including prominent wholesale and retail businesses. The company has extensive experience, having supported over 30 international customers, and is recognized as a Microsoft Certified Partner, demonstrating expertise in business solutions. AGR Dynamics is particularly noted for its proficiency in implementing Microsoft Dynamics NAV and LS Retail, contributing to some of the largest deployments of these systems globally. Through continuous innovation and improved customer communication, AGR Dynamics aims to strengthen business operations for its clients.

Trackwell

Seed Round in 2009
Trackwell Ltd, established in 1996 in Iceland, specializes in developing wireless communication solutions and is recognized for its expertise in mission-critical systems for telecom operators and government agencies. The company offers Mobile Resource Management (MRM) solutions as a software as a service (SaaS), equipping enterprises with tools to effectively manage their resources, including employees, vehicles, vessels, and other mobile assets. Trackwell's comprehensive suite of software includes fleet tracking, field workforce management, and specialized systems for fishing companies, enabling clients to gain real-time visibility into their operations. With hundreds of companies utilizing Trackwell MRM systems to oversee thousands of employees and a significant number of vehicles across various domains, the company has established itself as a leading provider in the resource management sector.
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