116 Iceland Startups to Watch in 2020

Iceland's tech sector is booming. This year’s list of the best 116 Iceland tech startups is an eclectic mix of hyper-growth scaleups, small creative startups and everything in between.

Last update: January 17, 2020

Iceland 10+ employees Fast-growing

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EpiEndo

EpiEndo Pharmaceuticals is a pharmaceutical company focused on novel solutions for chronic airway diseases.

Reykjav√≠k   1-10   $1,448,879  

Authenteq

Authenteq is an automatic identity verification and privacy platform that issues a blockchain based, self owned & controlled digital ID.

Reykjav√≠k   11-50   $7,398,101  

Alvotech

Alvotech is a global biopharmaceutical company, focused on developing biosimilar versions of leading monoclonal antibodies molecules.

Reykjav√≠k   51-100   $350,000,000  

Bungalo

Bungalo is a rental platform for rural properties with an experience twist that helps people create lasting memories.

Reykjav√≠k     $102,933  

Avo

Make your data as robust as your code. Say goodbye to missing properties, typos, and type errors.

Reykjav√≠k   1-10   $1,450,000  

GRID

GRID empowers every-day Excel users to turn their spreadsheets into modern web applications without learning any new skills.

Reykjav√≠k   11-50   $4,581,868  

Controlant

Controlant is a B2B cloud technology company leveraging IoT and next generation analytics.

Reykjav√≠k   11-50   $2,792,276  

TripCreator

An award-winning trip planning solution now available for Travel Agencies, OTA’s, Airlines, Travel Services and Bloggers/Indie Media.

Reykjav√≠k   11-50   $8,020,053  

Dohop

DoHop is an online search engine and a mobile app that offers information about flights, hotels and rental cars.

Reykjav√≠k   11-50   $7,960,315  

Cooori

Cooori is a web-based cutting edge language-learning system. Cooori is located in Japan, Iceland, Belgium and the UK.

Reykjav√≠k   11-50   $916,307  

Oculis

Oculis is a clinical-stage, privately held, pharmaceutical development company focusing on ophthalmic drugs and novel drug delivery.

Reykjav√≠k   11-50   $37,355,908  

Lucinity

Lucinity is the Intelligent AML solution company that empowers clients to detect suspicious behavior patterns and improve review efficiency.

Reykjav√≠k   11-50   $2,000,000  

Activity Stream

Activity Stream makes client's organization better by turning business data into actionable intelligence and insights.

Reykjav√≠k   11-50   $2,704,493  

ARK

ARK Technology is an environmental management company that provides software solutions and advisory services for the maritime industry.

Reykjav√≠k   11-50   $2,385,482  

Nox

Nox Medical is founded by engineers, investors and medical professionals to offer standard solutions for sleep monitoring and diagnostics.

Reykjav√≠k   11-50   $3,865,781  

Data Dwell

Data Dwell brings high-performance sales and marketing tools to the central nervous system of revenue: the CRM.

Reykjav√≠k   11-50   $1,277,089  

AGR Dynamics

AGR Dynamics offers a powerful supply chain management software, AGR, inventory optimiser, and sales manager.

Reykjav√≠k   11-50   $1,009,270  

CrankWheel

Enterprise-friendly screen sharing platform.

Reykjav√≠k   1-10   $681,114  

Monerium

Monerium is a regulated financial services company making currency more accessible, secure, and simple to transact.

Reykjav√≠k   11-50   $2,000,000  

qstack

Greenqloud is a software company focusing on their premier software, Qstack, a leading Cloud Management Platform (CMP).

Reykjav√≠k     $4,560,687  

1939 Games

1939 Games is a small game development studio that focuse on WWII gaming experiences.

Reykjav√≠k   1-10   $2,462,537  

Solid Clouds

Solid Cloud Games ehf. develops cross-platform gaming solutions.

Reykjav√≠k   11-50   $2,944,138  

dent & buckle

dent & buckle is an innovative application dedicated for aviation structural damage reporting with a next generation 3D user interface.

Reykjav√≠k   1-10   $710,794  

Genki Instruments

Creators of Wave - a ring that lets you control sound with motion.

Reykjav√≠k     $567,220  

Handpoint

Handpoint is a payment platform for integrated EMV payments that focuses on Next Generation POS developers.

Reykjav√≠k   11-50   $10,576,331  

OZ

OZ offers an online club membership service for users with specific interests.

Reykjav√≠k   251-500   $27,964,449  

Aldin

Aldin creates believable virtual reality experiences and technologies to sustain presence & immersion.

Reykjav√≠k   1-10   $1,743,225  

Guide to Iceland

Guide to Iceland is the official travel information provider for the City of Reykjavík.

Reykjav√≠k     $20,000,000  

Solfar

Sólfar Studios is a virtual reality studio behind Godling.

Reykjav√≠k     $2,212,580  

Watchbox

Watchbox combines technology and the elements of team-building to unite local and distributed teams.

Reykjav√≠k   1-10   $530,000  

Klappir

KGS offers methodology and software solutions facilitating sustainability and responsible environmental operations.

Reykjav√≠k     $560,035  

Florealis

A phar­ma­ceu­ti­cal com­pany pro­vid­ing solu­tions for peo­ple that want to use high qual­ity herbal med­i­c­i­nal prod­ucts

Reykjav√≠k   1-10   $4,257,089  

Getlocal

Improving the travel experience by matching traveller to local advice from likeminded people with similar tastes and interests.

Reykjav√≠k   11-50   $439,490  

Mentor

InfoMentor is an online solution that connects planning with assessment and reduces teachers workload.

Reykjav√≠k   11-50   $1,370,620  

Ankeri

Ankeri provides cloud based platform for ship owners and charterers to communicate and share ship data with focus on ship performance.

Reykjav√≠k   1-10   $665,000  

Memento Payments

Memento Payments offer the next generation social payment platform for banks.

Reykjav√≠k   1-10   $761,292  

Kvikna

Kvikna is an International software development firm providing technical solutions.

Reykjav√≠k   11-50   $912,367  

Ghostlamp

On-demand micro influencer campaigns, anywhere in the world.

Reykjav√≠k   11-50   $2,300,000  

Arctic Trucks

Arctic Trucks create vehicles designed to stretch horizons, to access the most remote environments on earth.

Reykjav√≠k   11-50   $4,336,136  

Expluria

Secure, real-time mobile app for the tourism industry.

Reykjav√≠k   1-10   $320,000  

Learncove

Costner is a start-up company that specialises in software solutions for the education sector.

Reykjav√≠k     $692,711  

Kula3D

K√ļla makes 3D lenses for smartphones and DSLR cameras.

Reykjav√≠k   1-10   $715,664  

MureVR

Breakroom is the way to turn your virtual reality headset into a multi-monitor system.

Reykjav√≠k     $781,613  

Gangverk

Gangverk is a software consultancy founded by seasoned software professionals.

Reykjav√≠k   1-10   $522,625  

Tulipop

The enchanting world of Tulipop is an original, beautiful and magical children's range unlike any other

Reykjav√≠k   11-50   $2,128,423  

Trackwell

Trackwell is an Icelandic company, developing solutions for wireless communication networks.

Reykjav√≠k   11-50   $848,548  

Lauf Forks

Lauf Forks makes ultra lightweight suspension forks for gravel bikes, cyclocross bikes, XC hardtails and fatbikes.

Reykjav√≠k   1-10   $3,682,841  

Iceland Dairies

Iceland Dairies is a dairy manufacturer and a cooperative organisation.

Reykjav√≠k   251-500   $105,075  

Lipid

Lipid Pharmaceuticals is a clinical-stage, privately held, pharmaceutical development company.

Reykjav√≠k   1-10   $404,129  

Codland

Codland’s goal is to promote progress in the fishing industry through innovation and collaboration.

Reykjav√≠k   1-10   $949,061  

Curio

Curio is focused on seafood processing machines for heading, filleting, skinning and sharpening.

Reykjav√≠k     $3,286,459  

ATMO Select

ATMO Select covers all aspects of audio branding for companies and brands.

Reykjav√≠k   11-50   $1,665,741  

MainManager

MainManager is a comprehensive Computer Aided Facility Management system (CAFM).

Reykjav√≠k   11-50   $736,966  

IceWind

IceWind designs and manufactures small vertical axis wind turbines for telecom towers and residential applications.

Reykjav√≠k   1-10   $2,451,916  

3Z

3Z Pharmaceuticals focuses on developing drugs that would improve the central nervous system.

Reykjav√≠k   1-10   $881,482  

OptiTog

OptiTog develops environmentally friendly fishing equipment that uses light instead of conventional methods.

Reykjav√≠k   1-10   $1,058,128  

Lumenox Games

Lumenox games is an independent game developer based in Reykjavík, Iceland.

Reykjav√≠k   1-10   $45,340,794  

Einr√ļm Yarn

Einr√ļm Yarn is producing luxury yarn and architectural service.

Reykjav√≠k   1-10   $77,089  

BioCule

BioCule aims to develop a DNA sample integrity equipment that analyzes complex nucleic acid samples.

Reykjav√≠k   1-10   $960,965  

Invector

Invector is a provider of asset valuation data to the financial services industry.

Reykjav√≠k   1-10   $115,634  

Akthelia

Akthelia is focused on the discovery and development of novel antimicrobial therapeutics.

Reykjav√≠k   1-10   $190,771  

Teqhire

TeqHire is a marketplace created for the world’s best developers and game changers in technology.

Reykjav√≠k   11-50   $707,741  

Teatime

Teatime Games is an Iceland-based gaming startup that reinvents social games.

Reykjav√≠k     $9,100,000  

Oxymap

Oxymap provides imaging products and services for eye-care professionals and clinical researchers.

Reykjav√≠k   1-10   $882,970  

ThorIce

Thor-Ice specializes in making and managing slurry Ice systems for rapid chilling of fish, poultry and other food products.

Reykjav√≠k   1-10   $1,152,971  

Digon Games

Digon Games is a game development studio in Reykjavík focusing on casual sports games.

Reykjav√≠k   1-10   $296,684  

HAp+

HAp+ is a sugar free acidic drop, which helps teeth to stay healthy, by effective oral clearance.

Reykjav√≠k   1-10   $163,705  

Zymetech

A globally leading company in research, development, production and sales of marine-derived enzymes for therapeutic application

Reykjav√≠k   11-50   $873,885  

SagaMedica

SagaMedica offers herbal dietary supplements from pure, Icelandic nature.

Reykjav√≠k   1-10   $874,138  

MARINOX

Marinox is an icelandic innovation company specializing in the extraction of bioactives from marine algae.

Reykjav√≠k   1-10   $771,136  

PolarDoors

Polar Fishing Gear specialize in design, contracting and sale of high efficient trawl doors for fishing.

Reykjav√≠k   1-10   $787,993  

Zenter

Zenter is a software company that provides software solutions in direct marketing including telemarketing, sending email, SMS, and more.

Reykjav√≠k   1-10   $380,000  

MT tech

MT tech is a start-up company specializing in biomedical technology based on ideas of physical therapist Dr. Maria Ragnarsdottir.

Reykjav√≠k   1-10   $190,357  

Moodist

Moodist is your expressive review site for popular review topics and a rating aggregator/search engine for popular review sources.

Reykjav√≠k   1-10   $52,537  

Mentis Cura

MentisCura, based in Reykjavik, Iceland, is a privately held diagnostic company.

Reykjav√≠k   1-10   $1,382,759  

Ymir Technologies

Lífdísill provides petroleum refining services and transforms bio-waste to marketable products.

Reykjav√≠k     $714,872  

Reon

Reon is a well established software development firm with a strong focus on quality and product security.

Reykjav√≠k   11-50   $626,339  

Syndis

Syndis is a leading information security company providing bespoke services and innovative security solutions in the global market.

Reykjav√≠k   1-10   $482,580  

Taramar

Taramar creates cosmetic products from Icelandic seaweed and medicinal herbs.

Reykjav√≠k   1-10   $75,053  

Vistvaen Orka

Vistvaen Orka ehf (VO) is a technology based research and development company.

Reykjav√≠k   1-10   $296,889  

Karolina Fund

Karolina Fund is a project management and funding platform to find people to work with and projects to take part in.

Reykjav√≠k   1-10   $53,430  

Breather Ventilation

Breather Ventilation is developing their new ventilation concept and technology.

Reykjav√≠k   1-10   $177,690  

Krumma

Krumma produces and sells toys and educational supplies for children of various age groups.

Reykjav√≠k   11-50   $165,741  

Scintilla

Scintilla is an icelandic design company renowned for its original prints.

Reykjav√≠k   1-10   $134,089  

Anitar

Anitar is app for tracking companion animals with RFID tags.

Reykjav√≠k   1-10   $689,209  

As We Grow

As We Grow is a children¬īs fashion label based in Reykjavik, Iceland. Focused on creating timeless, quality clothing.

Reykjav√≠k   1-10   $75,053  

Marorka

Marorka is a provider of energy management technology for the shipping industry.

Reykjav√≠k   251-500   $1,757,052  

Gagarin

Gagarin develops highly interactive media solutions that allow people to uniquely experience, understand & share.

Reykjav√≠k     $416,543  

Gerosion

Gerosion provides consultation, material testing and specialized R&D work for entities in the geothermal and petroleum industry.

Reykjav√≠k   1-10   $219,383  

Expectus

Expectus consultancy assists companies and organizations to achieve breakthroughs in their field.

Reykjav√≠k   11-50   $78,731  

Sportabler

Sportabler is a sports website that helps coaches, parents, clubs and their children to better harness the life developing in sports.

Reykjav√≠k   1-10   $115,000  

Jurt Hydrophonics

Wasabi Iceland is a new company founded by engineers.

Reykjav√≠k     $545,000  

Vizido

Vizido is an app that uses photos and screenshots to help the user remember things.

Reykjav√≠k   1-10   $115,634  

Margildi

Margildi is a young company that specializes in refining fish oils from capelin, herring and mackerel.

Reykjav√≠k   1-10   $485,634  

Alvican

Alvican is a company that develops an automated monitoring system for smart assisted living for the elderly.

Reykjav√≠k     $410,000  

PageKite

PageKite works to establish its clients on the internet via well designed and creative web sites.

Reykjav√≠k   1-10   $126,151  

Trappa

Trappa offers off-site speach training through the internet.

Reykjav√≠k   1-10   $112,580  

EcoMals

The EcoMals (Eco-Friendly Animals) concept is edutainment for children and the whole family.

Reykjav√≠k     $112,321  

Hampidjan

Hampidjan hf is an Iceland-based company making ropes and netting.

Reykjav√≠k   51-100   $229,904  

ViralTrade

ViralTrade develops a trading platform, focusing on transparent exchange market.

Reykjav√≠k   1-10   $79,383  

Gracipe

Gracipe develops software for creating and presenting graphical food recipes

Reykjav√≠k   1-10   $201,232  

Klappir

Stiki is a consulting and software company specializing in information systems security.

Reykjav√≠k     $554,632  

R2

R2Javascript is a package for webMethods Integration Server from Software AG that allows services to be written in Javascript.

Reykjav√≠k   1-10   $39,771  

Belgingur

Belgingur are experts in high resolution weather forecasting, and provide solutions for the global Wind Energy and Emergency Rescue sectors.

Reykjav√≠k   1-10   $222,151  

Valorka

Valorka. is developing turbines for tidal energy power plant.

Reykjav√≠k   1-10   $615,110  

MarkMar

MarkMar identifies possible sources of research funding, and provides expertise.

Reykjav√≠k   1-10   $368,128  

M√ĹSk√∂pun

M√Ĺsk√∂pun is an innovation company established to promote economic activity and utilize internal resources at the area in a sustainable way.

Reykjav√≠k   1-10   $116,018  

ErkiTónlist

ErkiTónlist promotes creative endeavours in music, especially those that for one reason or other did not obtain commercial support.

Reykjav√≠k   1-10   $582,858  

FishTech

Fisheries Technologies is an Icelandic company specializing in the field of fisheries management on a governmental level.

Reykjav√≠k   1-10   $669,211  

CEO HUXUN

CEO HUXUN is a management tool for managers and CEOs.

Reykjav√≠k   1-10   $425,634  

KeyWe

Rísóm makes a software that designed to make learning a more fun and interactive experience.

Reykjav√≠k     $159,037  

Advania MobilePay

Advania MobilePay specialices in innovative mobile payment solutions for banks and acquirers and their customers.

Reykjav√≠k   1-10   $505,492  

Rhino-Aviation

Rhino-Aviation makes an Aircraft Inventory management systems.

Reykjav√≠k   1-10   $75,053  

ArcticMass

ArcticMass offers high quality bioanalytical services for the pharmaceutical industry, using analytical techniques.

Reykjav√≠k   1-10   $354,709  

D-Tech System

D-Tech System is a new generation of disinfection solution providing outstanding performance.

Reykjav√≠k     $81,868  

DTE

Industrial process and quality control equipment maker Dynamic Technology Equipment.

Reykjav√≠k     $1,454,636  

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