Frumtak GP
Frumtak (a.k.a. Frumtak Investment Fund, Frumtak I, Frumtak 1) was founded December 23rd. 2008. The objective was to invest in early stage growth companies that were post seed and had growth potential. This would result in leading companies that could deliver a good return to investors.
At the close of Frumtak‘s investment period on December 31st. 2012, the fund had invested in fifteen companies with nine investments still active. The remainder of lifetime of the fund is used to follow on investments and divest assets.
Frumtak Ventures (Frumtak II, Frumtak 2) started in February 2015. The fund builds on the legacy of Frumtak 1. The fund invests in early stage innovative companies that are post seed and show great potential for growth.
The fund invests primarily in Iceland but is allowed to invest abroad as allowed by law in connection with its portfolio investments to ensure success in foreign markets.
Frumtak II emphasizes to invest in companies where growth and sales in foreign markets are the primary objective, but does not specialize in any particular industry. The fund wants to ensure that original ideas get a chance and thereby increasing the probability of creating growth and value. By doing this, it enforces the image that Icelandic innovation is profitable.
Frumtak II aspires to be a trusted and popular ally. The fund strives to have a good relationship and co-operation with all stakeholders within the start-up and innovation community. The fund puts a special emphasis on co-operating with stakeholders outside Iceland.
Past deals in Iceland
Controlant ehf
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.
Watchbox
Seed Round in 2015
Watchbox combines technology and the elements of team-building to unite local and distributed teams. Employees capture all the great things at work or outside of work, with photos and videos. These moments vary from random highlights at work, events, celebrations, and conferences to something interesting in employees’ personal lives outside of work. Posts can be viewed in the app, but are also displayed 24/7 in dedicated Watchbox display units, placed in common areas across the office. Watchbox provides fun Concepts designed to motivate diverse content creation that reinforces positive culture.
SidekickHealth
Series B in 2022
SidekickHealth is a digital therapeutics company that helps people prevent and manage chronic diseases. Our approach combines behavioral economics, gamification and artificial intelligence for a uniquely engaging experience that removes barriers to behavior change and expands the possibilities of health and well-being. Together with pharmaceutical companies and other organizations, we design personalized lifestyle change programs that improve health outcomes and treatment adherence, connect clinical experts and patient communities, and deliver data insights into some of the world's most pressing health challenges.
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.
Controlant ehf
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 is the next generation booking system that places customer experience at the heart of the travel economy. Powered by the Salesforce Platform, it frees travel companies from their legacy systems – equipping them to embrace new ways of working, transform the customer experience and deliver operational efficiencies.
Kaptio was launched by Arnar Laufdal Olafsson and Ragnar Fjölnisson in 2012 and has offices in United Kingdom, Iceland and Germany.
Meniga
Venture Round in 2016
Meniga Ltd develops white-label digital banking solutions. It offers digital banking product helps in personal finance management, automated real-time notifications, predictive analytics and personalized engagement; and marketing products which help in providing card-linked offers and consumer data analytics. The company was founded in 2013 and is based in London, United Kingdom.
Meniga
Venture Round in 2021
Meniga Ltd develops white-label digital banking solutions. It offers digital banking product helps in personal finance management, automated real-time notifications, predictive analytics and personalized engagement; and marketing products which help in providing card-linked offers and consumer data analytics. The company was founded in 2013 and is based in London, United Kingdom.
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.
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.
Valka
Venture Round in 2017
Valka has already gained a proven reputation for producing high-quality products. The company has emphasized on designing high technology hardware and software aimed at enhancing the customer’s productivity, through innovative solutions and with effective teamwork. Representing highly experienced individuals from the technical side of the seafood industry, the Valka team shares the vision and principles of solving the customers mission critical problems promptly and efficiently.
Through a rapidly growing international continues to grow its customer’s base and expand its product portfolio. The Valka atmosphere is fostered with innovation and creativity with the founder, Helgi Hjálmarsson, in forefront as the CEO. Valka currently holds 5 patents with more pending.
They commit long term to serve their customers, constantly strive to improve their products and continually evolve their offerings to match the needs of the clients.
Activity Stream Ltd.
Seed Round in 2015
Activity Stream Ltd. designs and develops OI based application, which turns underutilized business data into actionable intelligence and insights. The company serves customers in commerce, banking, insurance, telecommunications, airlines, and manufacturing industries. Activity Stream Ltd. was founded in 2013 and is based in Reykjavik, Iceland.
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.
SidekickHealth
Series A in 2020
SidekickHealth is a digital therapeutics company that helps people prevent and manage chronic diseases. Our approach combines behavioral economics, gamification and artificial intelligence for a uniquely engaging experience that removes barriers to behavior change and expands the possibilities of health and well-being. Together with pharmaceutical companies and other organizations, we design personalized lifestyle change programs that improve health outcomes and treatment adherence, connect clinical experts and patient communities, and deliver data insights into some of the world's most pressing health challenges.
Meniga
Venture Round in 2017
Meniga Ltd develops white-label digital banking solutions. It offers digital banking product helps in personal finance management, automated real-time notifications, predictive analytics and personalized engagement; and marketing products which help in providing card-linked offers and consumer data analytics. The company was founded in 2013 and is based in London, United Kingdom.
MainManager
Venture Round in 2010
MainManager software has been facilitating the operation and maintenance of thousands of properties, while at the same time providing customers with a comprehensive and up-to-date overview of their property portfolio.
Their software gives you the ability to maintain and manage your properties completely, as well as keep an eye on your energy usage and expenditures. It also allows you to store and access all documents and data and link these directly to the relevant property.
Meniga
Series A in 2013
Meniga Ltd develops white-label digital banking solutions. It offers digital banking product helps in personal finance management, automated real-time notifications, predictive analytics and personalized engagement; and marketing products which help in providing card-linked offers and consumer data analytics. The company was founded in 2013 and is based in London, United Kingdom.
Cintamani
Venture Round in 2013
Cintamani ltd. manufactures and sells outdoor clothing for women, men, kids, and babies. It offers coats and bodywarmers, jackets, jumpers, pants, shirts, and underwear; dresses; and accessories, such as backpacks, detergent products, hats, mittens and gloves, and socks. The company offers its products through its stores and other retailers; and distributors in Austria, Denmark, Canada, Norway, Switzerland, and Germany. Cintamani ltd. was founded in 1994 and is based in Garðabær, Iceland.
Meniga
Corporate Round in 2020
Meniga Ltd develops white-label digital banking solutions. It offers digital banking product helps in personal finance management, automated real-time notifications, predictive analytics and personalized engagement; and marketing products which help in providing card-linked offers and consumer data analytics. The company was founded in 2013 and is based in London, United Kingdom.
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.
Controlant ehf
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.
Handpoint ehf.
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.
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.
SidekickHealth
Seed Round in 2017
SidekickHealth is a digital therapeutics company that helps people prevent and manage chronic diseases. Our approach combines behavioral economics, gamification and artificial intelligence for a uniquely engaging experience that removes barriers to behavior change and expands the possibilities of health and well-being. Together with pharmaceutical companies and other organizations, we design personalized lifestyle change programs that improve health outcomes and treatment adherence, connect clinical experts and patient communities, and deliver data insights into some of the world's most pressing health challenges.
InfoMentor
Venture Round in 2010
InfoMentor's primary ambition is for all pupils to reach their full potential. This is achieved by creating the right conditions for learning. InfoMentor is a leading provider of teaching and learning solutions - online and mobile. It brings together in one platform, the most important stakeholders - the pupils, the teacher and the parents.
Data Dwell
Seed Round in 2016
Data Dwell ehf operates a cloud based online platform to automate and streamline daily branding operations and reinforce brands. The company’s platform allows uploading data and managing documents, images, videos, and digital assets. It serves marketers, designers, salespersons, agencies, distributors, partners, and sales and account management clients. The company was founded in 2012 and is based in Reykjavik, Iceland with locations in London, United Kingdom; and Palo Alto, California.
Kaptio
Seed Round in 2016
Kaptio is the next generation booking system that places customer experience at the heart of the travel economy. Powered by the Salesforce Platform, it frees travel companies from their legacy systems – equipping them to embrace new ways of working, transform the customer experience and deliver operational efficiencies.
Kaptio was launched by Arnar Laufdal Olafsson and Ragnar Fjölnisson in 2012 and has offices in United Kingdom, Iceland and Germany.