The Icelandic silica supplement company geoSilica announces completion of a 51M  (≈ 450.000 USD) series A financing round with the help of Spakur Finance.

GeoSilica has had good headwind recently, with close of a 40M ISK  (≈ 350.000 USD) seed round last October.

The pension fund Lífsverk is responsible for the bulk of the round with an angel investor from the previous round protecting his share in addition.

Pension funds investing directly in start-up companies remains rare in Iceland so the investment in geoSilica is a great validation of the company as it continues it´s international growth and the expansion of it´s product line.

We at Spakur congratulate geoSilica on this milestone!