Northstack Editorial

Northstack Editorial

Covid Response: The Startup Edition

Covid Response: The Startup Edition

Yesterday, the leaders of the Icelandic government announced the so-called “Package number 2” – a set of economic stimulus initiatives to support the Icelandic economy following the Covid outbreak. The package ranged from grants for companies that had to close due to bans on gatherings, to 100% backed loans (sounds similar

What's up with the constant "Annual Report"-reporting?

What's up with the constant "Annual Report"-reporting?

Last week, Viðskiptablaðið published a news article titled “Grid valuated at 1.7bn ISK” (or ~12m at current exchange rates). The article, which is reporting straight out of the annual report of Brunnur Ventures, states the following: “In the fund’s books, a 1.9% share of Grid is valued

"Banks as big, one-stop-shops are, in our view, on their way out" - An interview with indó cofounder Haukur Skúlason

"Banks as big, one-stop-shops are, in our view, on their way out" - An interview with indó cofounder Haukur Skúlason

This week, challenger bank indó announced €1m in funding. Following that announcement, Northstack interviewed Haukur Skúlason, cofounder of indó, on the opportunity. This was originally a part of the Memo, our newsletter with deep dives and commentary into the ecosystem. Our questions are in bold, answers in italic. A new

Icelandic challenger bank indó raises €1m in seed funding

Icelandic challenger bank indó raises €1m in seed funding

The Icelandic challenger bank indó just announced having raised €1m in seed funding in three rounds, the last one having more than 30% excess demand. Investors were mainly angel investors and private individuals that share the company’s vision to change how banking is done. “We saw an opportunity to

The Memo: a16z invests in Iceland, Kría unveiled, and Covid and Startups

The Memo: a16z invests in Iceland, Kría unveiled, and Covid and Startups

This post is from The Memo – our regular newsletter with commentary and analysis on the most important things in Icelandic startups, venture, and tech. You can sign up here. Image credit: Government.is a16z’s first investment in the Nordics is in an Icelandic/Finnish gaming company, and venture initiative

The bill on Kría, the Icelandic Venture Initiative, opened for feedback

The bill on Kría, the Icelandic Venture Initiative, opened for feedback

Note: Kiddi has been consulting with the ministry on this topic and others, related to innovation policy. This morning, the Ministry for Industries and Innovation, submitted the bill that will create Kría, to public consultation. The bill creates a new entity – Kría – which will invest in venture capital funds that

Mainframe Industries raise €7.6m from a16z, Riot Games and more

Mainframe Industries raise €7.6m from a16z, Riot Games and more

Mainframe Industries, a pan-Nordic MMO studio formed in April 2019 to develop cloud-native games, announced today a $8.2M (€7.6) Series A round led by Andreessen Horowitz (a16z) with additional investment from Riot Games. Existing investors Maki.vc, Play Ventures, Sisu Game Ventures, and Crowberry Capital all joined the