About Frumtak Ventures
Frumtak Ventures is a venture capital firm founded in 2008. It is primarily based out of Reykjavik, Iceland. As of Sep 2026, Frumtak Ventures is an active investor, having invested in 34 companies, with 2 new investments in the last 12 months. It primarily invests in Seed round in Iceland based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Consumer. Most recently it participated in the $***** Series A round of 50skills Overall, Frumtak Ventures portfolio has seen 3 acquisitions, namely DataMarket, Handpoint and MainManager. A lot of funds co-invest with Frumtak Ventures, with names like Eyrir Sprotar sharing a substantial percentage of its portfolio. Frumtak Ventures has team of 8 people including 7 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 3 more
Portfolio Acquisitions
Portfolio Soonicorns
Frumtak Ventures' List of Top Investments
Frumtak Ventures has a portfolio of 34 companies. Their most notable investments are in Leviosa and Sweeply.Their portfolio spans across Iceland, United States, United Kingdom and 3 more locations. They have invested in Enterprise Applications, High Tech, Consumer and 19 other sectors, across stages such as Seed, Series A and 3 more. Here is the list of top investments by Frumtak Ventures:
1. Meniga
Meniga provides personal finance management solutions for banks. The solution is integrated with the existing banking platform. It also allows the financial institutions to improve the customer relationship and improves the view of customers' accounts to cross-sell and attract new business and deposits. It uses machine learning for providing data-driven digital banking.
Key facts about Meniga
- Founded Year: 2009
- Location: Stockholm (Sweden)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $67.4M
- Employee Count: 97 as on Sep 30, 2026
- Investors: Industrifonden, Future Fund and 21 Others
- Latest Funding Round: Series D, Dec 13, 2023, $*****
- Highlight: Editors' Pick
Sidekick is a gamified social health platform for providers, insurers, lifestyle coaches, and employers for the purpose of checking the health and wellness of their members. The platform provides employees with health-improving tasks to motivate and engage people towards a healthy lifestyle in nutrition, physical activity, and mental exercise categories. Sidekick motivates users to improve their diet, get active, de-stress via meditating, and keep a track of body vitals along with providing people to communicate, collaborate, and compete with friends and colleagues. The app collects data from wearable devices and user input rewarding users for health-improving activities. The current programs targets solutions for employee wellness and diabetes prevention programs.
Key facts about SidekickHealth
- Founded Year: 2013
- Location: Palo Alto (United States)
- Stage: Series B
- Total Funding till date: $76.5M
- Employee Count: 209 as on Sep 30, 2026
- Investors: Novator, Novator Partners and 7 Others
- Latest Funding Round: Venture Debt, May 01, 2025, $*****
- Highlight: Editors' Pick
3. Controlant
Provider of real-time visibility platform and monitoring services for pharmaceuticals. The platform offers insights and automated workflows to optimize supply chain agility and resilience. It facilitates real-time monitoring, customized notifications, and detailed data review for end-to-end supply chain performance. The platform also automates supply chain processes and provides insights into logistics, including advanced analytics to improve performance. The solution is compliant for pharmaceutical use cases, providing automatic reporting for audits and compliance purposes.
Key facts about Controlant
- Founded Year: 2007
- Location: Reykjavik (Iceland)
- Annual Revenue: $0 - $1M as on Dec 31, 2015
- Stage: Series C
- Total Funding till date: $92.5M
- Employee Count: 202 as on Sep 30, 2026
- Investors: Frumtak Ventures, Apax and 4 Others
- Latest Funding Round: Series C, Nov 07, 2024, $*****
- Highlight: Editors' Pick
4. Treble
Provider of a VR and cloud-based sound simulation platform. It enables designers and engineers to model soundscapes and visualizes audio-visual virtual renderings of building acoustics, cloud computing, and simulation science. Its simulation algorithms can capture multiple sound phenomena by employing ray-tracing technology.
Key facts about Treble
- Founded Year: 2020
- Location: Reykjavik (Iceland)
- Stage: Series A
- Total Funding till date: $38M
- Employee Count: 37 as on Aug 31, 2026
- Investors: Omega Venture Partners, European Investment Bank and 11 Others
- Latest Funding Round: Series A, Sep 17, 2026, $*****
- Highlight: Editors' Pick
5. Qapital
Mobile app for micro-savings. It allows its users to set saving goals and funds are automatically transferred in small increments to FDIC-ensured Qapital's banking partner's account.
Key facts about Qapital
- Founded Year: 2012
- Location: New York City (United States)
- Stage: Series B
- Total Funding till date: $55.3M
- Employee Count: 60 as on Feb 28, 2026
- Investors: Inbox Capital, Northzone and 12 Others
- Latest Funding Round: Series B, Apr 16, 2018, $*****
- Highlight: Editors' Pick
Frumtak Ventures' Year-on-Year Investment Trends
Frumtak Ventures has invested in 34 companies over the last 17 years, with an average of 2 new investments annually in the last 10 years. In 2025, it made 3 investments, while as of Sep 2026, it has made 2 investments in this year. Its most recent first time investment was in MyDello and most recent follow-on round was in 50skills.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 2 | 2 |
2025 | 3 | 0 | 3 |
2024 | 4 | 2 | 6 |
2023 | 0 | 0 | 0 |
2022 | 8 | 1 | 9 |
2021 | 1 | 1 | 2 |
2020 | 0 | 2 | 2 |
2019 | 0 | 0 | 0 |
2018 | 0 | 0 | 0 |
2017 | 2 | 1 | 3 |
Frumtak Ventures' Investments by Stage
Frumtak Ventures has made 16 investments in Seed stage with an average round size of $2.16M, 10 investments in Series A stage with an average round size of $4.62M, 4 investments in PE stage, 2 investments in Series B stage and 1 investment in Grant (prize money) stage with an average round size of $695K.Stage of entry | No. of Investments |
|---|---|
Seed | 16 |
Series A | 10 |
PE | 4 |
Series B | 2 |
Grant (prize money) | 1 |
Note: We have considered here, only first round of investments
Frumtak Ventures' Investments by Sector
Frumtak Ventures has a diverse portfolio, with companies operating in the Enterprise Applications, Vertical SaaS, Travel and Hospitality Tech, Consumer and FinTech. Notably, it has invested in 25 Tech companies, 24 Enterprise (B2B) companies, 22 Software companies and at least 16 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 21 |
Vertical SaaS | 8 |
Travel and Hospitality Tech | 5 |
Consumer | 4 |
FinTech | 3 |
Others | 35 |
Note: We have considered here, only first round of investments
Frumtak Ventures' Investments by Geography
Frumtak Ventures has made most investments in Iceland (26), followed by United States where it has made 3 investments.Country | No. of Investments |
|---|---|
Iceland | 26 |
United States | 3 |
United Kingdom | 2 |
Denmark | 1 |
Estonia | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
Frumtak Ventures' recent investments
Frumtak Ventures has made 2 investments in 2026 so far - 50skills and Treble.Here are the most recent investments by Frumtak Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 24, 2026 | United States | Series A | 5226 | [+1] | |
Sep 17, 2026 | Iceland | Series A | 3928 | [+2] | |
Dec 16, 2025 | Estonia | Series A | 7768 | ||
Nov 11, 2025 | Iceland | Seed | 4471 | ||
Apr 09, 2025 | Iceland | Seed | 7811 | - |
Acquired companies in Frumtak Ventures' Portfolio
3 companies from Frumtak Ventures' portfolio have been acquired. The most recent acquisition was Handpoint in Aug 2025 by Electronic Payments for $*****.Here are Frumtak Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 19, 2025 | Sep 17, 2015 | PE | 4315 | |
Dec 18, 2020 | Aug 17, 2010 | Series B | 3334 | |
Nov 02, 2014 | Aug 01, 2011 | Series A | 2603 |
Team profile of Frumtak Ventures
Frumtak Ventures has a team of 8 members including 7 Partners located in Iceland and United Kingdom. Frumtak Ventures' team does not sit on the board of any company as of now.Here is a list of all team members in Frumtak Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Reykjavik | - | ||
Partner | Reykjavik | - | ||
Partner | Reykjavik | - | - | |
Partner | - | - | ||
Partner | Iceland | - | ||
Partner | London | - | - | |
Partner | Reykjavik | - | - |
Co-investors of Frumtak Ventures
Over the past 17 years, 65 investors have co-invested in Frumtak Ventures's portfolio companies. This includes funds and angels.
- Invested before Frumtak Ventures: New Business Venture Fund, Börkur Arnviðarsson and 14 others have invested in rounds before Frumtak Ventures. There are 5 companies where New Business Venture Fund has invested before Frumtak Ventures and 1 company where Börkur Arnviðarsson has invested before Frumtak Ventures.
- Top Co-investors of Frumtak Ventures: 13 investors entered a company along with Frumtak Ventures. These include investors like Eyrir Sprotar (2 companies).
- Invested after Frumtak Ventures: A total of 36 investors have invested in Frumtak Ventures's portfolio after their investments. Top Investors include Europa (3 companies), EIC Fund (2 companies) and European Investment Bank (2 companies).
Recent News related to Frumtak Ventures
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50skills Raises $6M to Scale AI Operating System for HR WorkflowsThe SaaS News•Sep 24, 2026•50skills, Post, DRD Investments, Avant and 1 other
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MyDello Secures €3.1M Funding Led by Frumtak Ventures for ExpansionRetail Technology Innovation Hub•Dec 16, 2025•Superhero Capital, Frumtak Ventures, MyDello
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Euler Closes €2 Million Seed Round To Scale Ai Fault Detection In 3d Printing3D Printing Industry•Nov 11, 2025•euler, Frumtak Ventures, Kvanted
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Euler Closes €2 Million Seed Round To Scale Ai Fault Detection In 3d Printing3D Printing Industry•Nov 11, 2025•euler, Kvanted, Frumtak Ventures
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Iceland’s Moombix raises £1.9 million seed to scale music education marketplaceArcticStartup•Oct 17, 2024•Moombix, Frumtak Ventures, Treble, Activity Stream
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Moombix scores £1.9M to launch online music learning platform to the UKTech Funding News•Oct 17, 2024•Moombix, Frumtak Ventures
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Reykjavik-based Moombix raises €2.27 million to scale its online music learning platformEU-Startups•Oct 17, 2024•Moombix, Frumtak Ventures
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Reykjavik-based Treble raises €11 million to build the sound of our citiesEU-Startups•Sep 03, 2024•Treble, Kompas, Frumtak Ventures, European Investment Bank and 1 other
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Treble raises €11M to scale its sound simulation platformTech.eu•Sep 03, 2024•Treble, Kompas, Vizcab, Frumtak Ventures and 4 others
