Frumtak Ventures backs Tulipop’s $2m round

Previous investor Þorbergur ehf also participated. The company aims to use the funding to expand into new countries.

Tulipop entered the licensed merchandise market last year when it signed a deal with US toy company Toynami.

Frumtak invests in early-stage companies. The VC's second vehicle, Frumtak 2, held a ISK 5bn final close in February 2015. The fund invests primarily in Iceland but may deploy money abroad as well. 

Company
Founded in 2010 and based in Reykjavik, Tulipop sells gift items for children, story books based on children's characters, and runs an app. The products are sold in 120 stores in 14 countries.

People
Frumtak Ventures – Svana Gunnarsdóttir (general partner).
Tulipop – Helga Arnadottir (CEO).

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• Topics
• Expansion
• Nordics
• Consumer
• Iceland
• Venture