Frumtak Ventures raises $84 million for fourth fund, focusing on intersection of software, AI and deep tech

Odaily News The fourth fund of Iceland's early-stage investment institution Frumtak Ventures, Frumtak IV, has been oversubscribed, raising a total of $84 million. Frumtak Ventures hopes to use the fourth fund to further invest in the intersection of software, artificial intelligence and deep technology, focusing on Iceland's historical advantages in marine technology, logistics, healthcare, tourism, energy, climate and gender equality. (VentureBeat) Earlier in December 2022, Iceland's metaverse sound experience startup Treble Technologies announced the completion of a 5.5 million euro (about 5.7 million U.S. dollars) seed round of financing, led by Nordic venture capital Frumtak Ventures, and Nova, the venture capital department of Fortune 500 company Saint-Gobain, and a group of angel investors. In addition, the company received 2.5 million euros (about 2.6 million U.S. dollars) in funding from the European Innovation Council.