Northstack Editorial

Northstack Editorial

Arion bank discontinues support for Startup Reykjavik

Arion bank discontinues support for Startup Reykjavik

The main supporter of Startup Reykjavik, and investor in all the Startup Reykjavik companies, Arion Bank, is discontinuing support for the accelerator. Vísir reports, based on sources from inside the bank, which comments to Vísir that the issue is under consideration within the bank. The program, which is owned by

Nox Medical and Fusion Health merge to form Nox Health, with $10m investment from from private equity firm Alfa Framtak

Nox Medical and Fusion Health merge to form Nox Health, with $10m investment from from private equity firm Alfa Framtak

Nox Medical, the Icelandic maker of sleep monitoring and diagnostics devices, and FusionHealth, have merged to become Nox Health. As part of the merger, Icelandic private equity fund Alfa Framtak has invested $10m in the company for a 13% stake in the company. “The merger with FusionHealth, which is now

“Innovation isn’t a luxury. It’s a necessity” – Minstry for Innovation unveils Innovation Policy

“Innovation isn’t a luxury. It’s a necessity” – Minstry for Innovation unveils Innovation Policy

Just now, with the words that “Innovation isn’t a luxury, it’s a necessity,” Þórdís Kolbrún Reykfjörð Gylfadóttir the minister for Innovation, unveiled the Innovation Policy for Iceland until 2030. This policy is the result of work by a bi-partisan group of politicians and stakeholders from the ecosystem, and

Mainframe Industries - founded by former CCP, NextGames and Remedy devs - raise €2m

Mainframe Industries - founded by former CCP, NextGames and Remedy devs - raise €2m

Mainframe Industries, a new, Reykjavik-based but pan-Nordic gaming company, has raised €2m (~$2.2m) in seed funding to build what they describe as “the first MMO specifically developed for cloud platforms.” “The creative and business opportunity that cloud gaming brings to social and immersive online games is unlike anything we’

Ripple acquires Algrim and opens office in Iceland

Ripple acquires Algrim and opens office in Iceland

Ripple, a global blockchain technology company that provides solutions to send money globally, just announced its acquisition of Icelandic company Algrím. The acquisition price remains undisclosed at the publishing of this story. “With built-in expertise in trading and exchanges, the addition of Algrim’s engineering talent to our team will

The Best Year Yet: Funding Report for 2018

The Best Year Yet: Funding Report for 2018

In this somewhat-late funding report, we look at VC and startup funding in 2018. Note: This report has been updated with correct data. We made an error in the original article. We nicknamed 2017 “the year of the seed round” due to a record number of investments, most of which

Private Equity fund SIA III acquires Men&Mice

Private Equity fund SIA III acquires Men&Mice

Icelandic software company Men&Mice has been acquired by private equity fund SÍA III, which is managed by Stefnir. The acquisition price remains undisclosed. New Business Venture Fund and other investors are the sellers. The company was founded in 1990 by Petur Petursson and Jon Georg Adalsteinsson. The New