5 fast-growing Icelandic startups to watch

With our first ever event Nordic Next approaching in June, we’ve started the process of shortlisting the most exciting companies in the Nordics. Over the last week, we’ve been focused on finding Iceland’s most promising startups right now, and have spent hours researching the best companies currently emanating from the most Northern of the Nordic countries. While we are yet to determine who we will be inviting to present at Nordic Next, we thought it would be useful to share our shortlist with you, as we present 5 fast-growing Icelandic startups to watch.

*As part of our research we consulted with Icelandic Startups and Nordurskautid.is, both excellent resources for further information on the Icelandic startup scene, we highly recommend connecting with them if you want to take your interest in the Icelandic ecosystem further.


Solfar Studios

In their own words: 

“Sólfar Studios is founded by three industry veterans that have been working on the cutting edge of online worlds, games and virtual reality for over 20 years. Highly selective on talent and collaborators while keeping a nimble profile, we pride ourselves on an uncompromising commitment to the quality and impact of our productions.”

Founded: 2014

Vertical: VR

Funding to date: $2.6M

Last round: $2.1M

Why we’re excited:

Iceland is really experiencing a boom in VR right now, with many promising startups popping up in this field. Leading the way is Solfar Studios. Founded by three gaming veterans from CCP, Solfar have captured the World’s attention with the demo of their Everest VR experience, allowing you to virtually climb the World’s most famous mountain. The full game will be released next year, and looks set to establish them as a global household name in VR.


Sling

In their own words:

“Sling is the easiest way to schedule and communicate with non-desk employees.”

Founded: 2014

Vertical: Enterprise SaaS

Funding to date: $500,000

Last round: $500,000

Why we’re excited:

Slack has changed the way we communicate at work, and Sling look like they are in a strong position to take a large section of this market. Their offering is aimed at employees who don’t work from a desk, allowing them to allowing them to schedule, message and communicate with their fellow employees. By focusing on this niche, Sling has positioned itself well. And things are looking promising, having just signed a $2.5 million licensing deal with an undisclosed American company.


Crankwheel

In their own words:

“CrankWheel is enterprise-friendly screen sharing, focused on sharing the browser tab with customers and integrating fully into the enterprise’s service offering. In just 10 seconds, start showing your customer as if they were sitting beside you. Any browser, any device, no install.”

Founded: 2015

Vertical: Enterprise-friendly screen sharing

Funding to date: n/a

Last round: n/a

Why we’re excited:

Founder and CEO Jói Sigurdsson spent 10 years at Google leading technical teams across Google Chrome, Toolbar and Desktop. Jói has now turned his attention to solving a long-standing problem that many have attempted but none have quite yet cracked, sharing your screen quickly and easily. Crankwheel is focusing on enterprise, and looks to be a great addition to a salespersons arsenal.


Solid Clouds

In their own words:

“Solid Clouds aims to be one of the leading MMORTS developers in the world, we are currently developing STARBORNE a cross-platform MMORTS game that will define the benchmark for the industry.”

Founded: 2014

Vertical: Gaming

Funding to date: n/a

Last round: n/a

Why we’re excited:

CCP Games, the makers of EVE Online are arguably Iceland’s biggest success, and in Solid Games, we have a company that many are calling ‘The next CCP’. This is largely due to several of the team at Solid being part of creating EVE Online, and the first ever CEO of CCP is also Chairman of the board at Solid Games. We certainly wouldn’t bet against their ambition of being one of the global leaders of MMORTS developers with their track record.


Datadrive

In their own words:

“Datadrive connects your car to your mobile and offers a marketplace for car related services. We are a team who love to work with car computer data and have for the past 15 years worked in the field of M2M and float controls, designed our own hardware, won national awards in the field of traffic safety and got international patent driving behaviour analysis.”

Founded: 2015

Vertical: Connected car technology

Funding to date: $16,000

Last round: $16,000

Why we’re excited:

Connected car technology is an area that is heating up right now, and is at the very beginning of its potential. The experience of the team behind Datadrive indicates that they are in a strong position to capitalise on this trend, especially as their approach is to situate themselves as a marketplace for car related services.


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Neil S W Murray founded The Nordic Web in 2014 in order to provide the Nordics with the quality coverage it deserves. As well as being Founding Editor of The Nordic Web, Neil is also an active community builder in the region, participating in a number of initiatives, and has previously worked for Tech.eu.