Northstack Editorial

Northstack Editorial

Skaginn 3X wins Icelandic Innovation Award

Skaginn 3X, maker of freezing, chilling, and processing equipment for the fishing industry, was awarded the Icelandic Innovation Award at Nýsköpunarþing 2017 (Innovation Day 2017). Skaginn 3X was created by the merger of two technology companies: Skaginn hf. and 3X Technology ehf. The company specialises in food processing, chilling and

TripCreator raises $2m, shuts down B2C product

TripCreator, maker of the AI-driven travel planning solution, just announced a $2m funding round. Investors are undisclosed. Previous investors include Míó, the investment company of Magnús Ingi Óskarsson, founder of Calidris, and Salting ehf. The company also announced that it will shut down its B2C product to focus solely on

Kerecis' Omega3 product now covered by Medicare in all 50 US States

Kerecis' Omega3 product now covered by Medicare in all 50 US States

Kerecis, the company using fish skin to heal human wounds and tissue damage, will present results of eight studies of its technology at the Symposium for the Advancement of Wound Care (SAWC) meeting to be held April 5 to 9. The company also announced that Medicare now reimburses for its

Meniga raises €7.5m led by Industrifonden

Fintech company Meniga just announced a €7.5m funding round led by Nordic investment fund Industrifonden. Previous investors – Velocity Capital, Frumtak Ventures and Kjölfesta – also participated in the round. From TechCrunch: “Today’s banks are under pressure to innovate and improve their customer experiences online and yet they are beholden

Huld Magnúsdóttir announced as new CEO of NSA Ventures

The board of NSA Ventures has hired Huld Magnúsdóttir as the new CEO of the investment fund. She’ll replace Helga Valfells, who left NSA Ventures to found Crowberry Capital last January. She’ll start at NSA Ventures on May 1st. The board sent the following in a statement: Huld

Nothing is bought, everything is sold

Nothing is bought, everything is sold

Creating a successful product company is a straightforward three step process: 1. Create a product 2. Find customers 3. Match product and customers But while straightforward, each of those steps is more complicated than it may seem at first. What follows are a few observations from my four startups and

Are we looking at a startup downswing in Iceland?

Are we looking at a startup downswing in Iceland?

The last two Memo’s discussed the general interest in startups. A month ago, I wrote a post titled “Is interest in startups in Iceland decreasing?”. The main point there was to bring forward data about the declining participation in cornerstone events like Gulleggið – business plan competition, and some accelerators.