Kria Health

The Investment structure

With the support of the Ministry of Culture, Innovation and Higher Education, Kria Health has ISK 300 million available for investments.

The indicative amount of individual investments is approximately ISK 50–70 million.

• A non-negotiable requirement of Kria Health is matching co-financing of an equal or higher amount.
• Confirmation of the co-financing must be provided no later than three months after approval by the board of Kria.
• Kria's investment takes the form of a loan note bearing 10% interest, with a conversion right for up to three years, with a possible two-year extension. The conversion price of the loan note is based on the valuation of the next equity financing round, at a 20% discount. The maximum valuation upon conversion is ISK 500 million. Early repayment is permitted at any time during the loan term.
• During the loan period, NSK will not have active involvement in the company’s operations but will require the appointment of an independent board member, good corporate governance practices, regular reporting, and invitations to shareholders’ meetings.

Expert Advisory Board

The Expert Advisory Board reviews all applications submitted to Heilsu Kría and evaluates them in accordance with NSK’s investment policy.

• Hrönn Greipsdóttir, CEO of NSK
• Ragnhildur Jónsdóttir, Head of People, Culture, and Organizational Development at Sidekick Health
• Sveinbjörn Ingi Grímsson, Innovation and Business Development Division, Ríkiskaup
• Guðbjörg Edda Eggertsdóttir, pharmacist and angel investor
• Sigurður Þórarinsson, Head of Digital Health

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Expert Advisory Board

The Expert Advisory Board reviews all applications submitted to Kria Health and evaluates them in accordance with Kria's investment policy.

‍The Expert Advisory Board consists of:

• Hrönn Greipsdóttir, CEO of Kria
• Ragnhildur Jónsdóttir, Heaf of People, Culture and Organizational Development at Sidekick Health
• Sveinbjörn Ingi Grímsson, Innovation and Busienss Development at Ríkiskaup
• Guðbjörg Edda Eggertsdóttir, pharmacist and angel investor
• Sigurður Þórarinsson, Head of Digital Health

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Application Process

The following information must be provided:

• The company and its contact person
• A brief description of the project in question
• The amount of investment being applied for
• Whether matching funding is in place and, if so, from whom
• The company’s sales revenue in the previous year
• Whether the applicant has received confirmation from Rannís or a grant from the Technology Development Fund
• Whether the company has received other grants, and if so, from whom and when

Supporting Documents

A slide presentation in PDF format (maximum 10 slides) that includes the following:

• The Idea: Novelty of the idea, uniqueness of the product, and the business plan
• The Market: What is the problem or need, and what is the size of the market?
• The Team: Presentation of the team, including staff, board members, and potential advisors
• Scalability: How easy is it to scale the project and expand internationally?
• Financial Plan: Actual figures from the previous year and projections for the next 3–5 years
• Funding Needs: How much capital is being requested and how it will be used

• ‍Promotional Video: A video introducing the project and the team
• ‍Financial Plan‍Letters of Intent / Documentation for matching funding, if applicable
• ‍Shareholder List of the company
• ‍Most Recent Annual Accounts of the company
• ‍Confirmation of RSK Registration

‍In short, the process is as follows:

• An application is submitted
• Advisory board reviews the applicaton
• Selected companies are invited to present the company, the team and the project at a special meeting
• The board of Kria is presented with the selected projects
• Following board approval, agreements are finalized regarding the fund's participation, provided that the companies have matching investment funding in place.

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Application deadline was on October 20th 2025