About Icos Capital
Icos Capital is a venture capital firm founded in 2005. It is primarily based out of Rotterdam, Netherlands. As of Apr 2026, Icos Capital is an active investor, having invested in 35 companies, with 2 new investments in the last 12 months. It primarily invests in Seed round in Netherlands based startups. Its investments are spread across a wide range of sectors from High Tech to Food and Agriculture Tech and Enterprise Applications. Most recently it participated in the $***** Seed round of Foamlab Overall, Icos Capital portfolio has seen 1 IPO and 1 acquisition, namely RainMaker WorldWide and Bioactor. A lot of funds co-invest with Icos Capital, with names like Future Food Fund sharing a substantial percentage of its portfolio. Icos Capital has team of 12 people including 3 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Soonicorns
Icos Capital's List of Top Investments
Icos Capital has a portfolio of 35 companies. Their most notable investments are in Metalmembranes and Bioactor.Their portfolio spans across Netherlands, Poland, United Kingdom and 5 more locations. They have invested in High Tech, Food and Agriculture Tech, Enterprise Applications and 12 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Icos Capital:
1. Carbon Clean
Developer of modular carbon capture systems for heavy industrial applications. These systems utilize proprietary solvent technology and heat integration to remove carbon dioxide emissions from industrial processes. The equipment is designed for installation in space-constrained environments to facilitate emission reduction. The technology supports the decarbonization of manufacturing and energy production facilities through scalable capture units.
Key facts about Carbon Clean
- Founded Year: 2009
- Location: London (United Kingdom)
- Annual Revenue: £1M - £10M as on Mar 31, 2023
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $243M
- Employee Count: 188 as on Aug 31, 2026
- Investors: Pegasus Tech Ventures, Samsung Venture Investment and 61 Others
- Latest Funding Round: Grant (prize money), May 31, 2022, $*****
- Highlight: Editors' Pick
2. Squirro
Developer of generative AI platforms for enterprise data management tasks. The software integrates semantic search, knowledge graphs, and automated content classification to transform unstructured information into actionable intelligence. It supports service management operations by providing agents with historical data access, sentiment analysis, and automated responses. The technology functions across structured and unstructured data sources, utilizing retrieval-augmented generation to enhance accuracy and response reliability. Designed for use in regulated environments, the platform includes security features for data protection and auditability, while offering integration capabilities with existing business process management and service management tools.
Key facts about Squirro
- Founded Year: 2012
- Location: Zurich (Switzerland)
- Stage: Series B
- Total Funding till date: $15.5M
- Employee Count: 94 as on Aug 31, 2026
- Investors: Salesforce Ventures, Cross Continental Ventures and 13 Others
- Latest Funding Round: Series B, Aug 2022, $*****
- Highlight: Editors' Pick
3. Holiferm
Manufacturer of biosurfactants. It uses renewable feedstocks and yeast-based fermentation processes to develop sophorolipid-based high and low foaming surfactants. Its biodegradable surfactants have applications in industrial and consumer products.
Key facts about Holiferm
- Founded Year: 2018
- Location: Manchester (United Kingdom)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $25.7M
- Employee Count: 69 as on Aug 31, 2026
- Investors: Greater Manchester Combined Authority, Clean Growth Fund and 4 Others
- Latest Funding Round: Series B, Dec 06, 2023, $*****
- Highlight: Editors' Pick
4. MOA foodtech
Key facts about MOA foodtech
- Founded Year: 2020
- Location: Noain (Spain)
- Stage: Series B
- Total Funding till date: $22.6M
- Employee Count: 29 as on Aug 31, 2026
- Investors: Banco Sabadell, Swanlaab Venture Factory and 10 Others
- Latest Funding Round: Series B, Sep 04, 2026, $*****
5. eAgronom
Provider of farm management solution. It offers software that allows farmers to plan, manage and analyze their activities in one place. The company claims that the software is used for managing crop-producing land. The software is targeted towards grain-producing farmers. The mobile application is available on Android and iOS platforms.
Key facts about eAgronom
- Founded Year: 2016
- Location: Poland
- Stage: Series A
- Total Funding till date: $26.7M
- Employee Count: 75 as on Aug 31, 2026
- Investors: Superangel, SmartCap and 22 Others
- Latest Funding Round: Series A, May 09, 2025, $*****
- Highlight: Editors' Pick
Icos Capital's Year-on-Year Investment Trends
Icos Capital has invested in 35 companies over the last 18 years, with an average of 2 new investments annually in the last 10 years. In 2025, it made 2 investments, while as of Apr 2026, it has made 1 investment in this year. Its most recent first time investment was in Foamlab and most recent follow-on round was in eAgronom.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 2 | 0 | 2 |
2024 | 3 | 1 | 4 |
2023 | 3 | 0 | 3 |
2022 | 2 | 0 | 2 |
2021 | 1 | 1 | 2 |
2020 | 3 | 0 | 3 |
2019 | 1 | 0 | 1 |
2018 | 0 | 0 | 0 |
2017 | 1 | 0 | 1 |
Icos Capital's Investments by Stage
Icos Capital has made 11 investments in Seed stage with an average round size of $2.46M, 8 investments in Series A stage with an average round size of $12.7M and 5 investments in Series B stage with an average round size of $11M.Stage of entry | No. of Investments |
|---|---|
Seed | 11 |
Series A | 8 |
Series B | 5 |
Note: We have considered here, only first round of investments
Icos Capital's Investments by Sector
Icos Capital has a diverse portfolio, with companies operating in the High Tech, Sustainability Tech, Food and Agriculture Tech, Environment Tech and Chemicals and Materials Tech. Notably, it has invested in 21 Enterprise (B2B) companies, 21 Tech companies, 6 Consumer (B2C) companies and at least 6 companies focusing on Software.Sector | No. of Investments |
|---|---|
High Tech | 12 |
Sustainability Tech | 12 |
Food and Agriculture Tech | 9 |
Environment Tech | 6 |
Chemicals and Materials Tech | 3 |
Others | 19 |
Note: We have considered here, only first round of investments
Icos Capital's Investments by Geography
Icos Capital has made most investments in Netherlands (12), followed by Poland where it has made 2 investments.Country | No. of Investments |
|---|---|
Netherlands | 12 |
Poland | 2 |
Switzerland | 2 |
United Kingdom | 2 |
Canada | 1 |
Others | 3 |
Note: We have considered here, only first round of investments
Icos Capital's recent investments
Icos Capital has made 1 investments in 2026 so far - Foamlab.Here are the most recent investments by Icos Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 24, 2026 | - | Seed | 4369 | [+3] | |
Oct 23, 2025 | Netherlands | Series A | 7731 | [+4] | |
Jun 26, 2025 | Netherlands | Seed | 8992 | - | |
Sep 12, 2024 | France | Series A | 2948 | [+4] | |
Jul 02, 2024 | Poland | Series A | 3515 | [+2] |
IPOs and Publicly Listed companies in Icos Capital's Portfolio
1 of Icos Capital's portfolio company became public - RainMaker WorldWide. It got listed on the OTC Markets (OTCMKTS), in Dec 2008.Here are Icos Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 01, 2008 | Mar 04, 2008 | Seed | 5616 |
Acquired companies in Icos Capital's Portfolio
1 company from Icos Capital's portfolio has been acquired. The most recent acquisition was Bioactor in Jan 2023 by Solabia for $*****.Here are Icos Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jan 13, 2023 | Jul 25, 2011 | Series A | 2648 |
Team profile of Icos Capital
Icos Capital has a team of 12 members including 3 Partners, 3 Venture Partners and 1 Principal located in Netherlands and Poland. Icos Capital's team does not sit on the board of any company as of now.Here is a list of top team members in Icos Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Amsterdam | - | ||
Partner | Amsterdam | - | - | |
Partner | Uithoorn | - | ||
Venture Partner | Amsterdam | - | - | |
Venture Partner | Krakow | - | - | |
Venture Partner | Randstad | - | - | |
Principal | Amsterdam | - |
Co-investors of Icos Capital
Over the past 18 years, 123 investors have co-invested in Icos Capital's portfolio companies. This includes funds and angels.
- Invested before Icos Capital: Europa, EIC Fund and 58 others have invested in rounds before Icos Capital. There are 6 companies where Europa has invested before Icos Capital and 6 companies where EIC Fund has invested before Icos Capital.
- Top Co-investors of Icos Capital: 36 investors entered a company along with Icos Capital. These include investors like Future Food Fund (2 companies).
- Invested after Icos Capital: A total of 27 investors have invested in Icos Capital's portfolio after their investments. Top Investors include EIC Fund (2 companies), Gov (1 company) and Samsung (1 company).
Recent News related to Icos Capital
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Foamlab raises €3 million to replace fossil-based plastics with bacterial cellulose foam materialsStartup Rise EU•Apr 24, 2026•DOEN Ventures, Valuefactory, Icos Capital, SHIFT Invest and 2 others
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ICOS Capital Invests in Plantics to Accelerate Commercial RolloutDuurzaam Beleggen•Jun 27, 2025•Plantics, Nationaal Groenfonds, NOVA by Saint-Gobain, Icos Capital and 1 other
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L'Oréal acquires a stake in Ile-de-France biotech AbolisFashion Network•Sep 13, 2024•Abolis, L'Oreal, Evonik, DeepTech & Climate Fonds and 3 others
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L'Oreal, Evonik join $38.6 million funding round for biotech start-up AbolisFashion Network•Sep 13, 2024•L'Oreal, Evonik, Abolis, Evonik Venture Capital and 5 others
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French biotech Abolis Biotechnologies raises €35M to boost microbial ecosystem engineeringTech.eu•Sep 12, 2024•Abolis, BOLD, Evonik Venture Capital, DeepTech & Climate Fonds and 6 others
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Youandlaw advises the Dutch fund ICOS Capital in the €3M round of MOA FoodtechLawyerpress - Información del sector legal•Aug 20, 2024•MOA foodtech, Icos Capital, Clave, Viscofan and 2 others
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eAgronom Attracts €10 Million to Its Coffers Amid Sustainable Farming PushGlobal AgInvesting•Jul 13, 2024•eAgronom, Swedbank, Icos Capital, Soulmates Ventures and 1 other
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Estonia’s eAgronom secures €10M to strengthen carbon program and farmer incentivesArcticStartup•Jul 03, 2024•eAgronom, Swedbank, Icos Capital, Soulmates Ventures and 1 other
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Eagronom Raises €10m Series A2 Round To Boost Sustainable Farming PracticesTech.eu•Jul 02, 2024•eAgronom, Swedbank, SmartCap, Soulmates Ventures and 1 other
