ARK Technology completes $2.3M million financing round from Brunnur Ventures.

official press release below

Brunnur Ventures (Brunnur vaxtarsjóður slhf) has reached an agreement with ARK Technology, Inc. regarding investing in the company. As a result of this investment, ARK will issue more stock. The founders of ARK Technology are included in the new issue and will continue to be majority stockholders through the investment firm Klappir ehf. This financial transaction totals 300m ISK (2.2m EUR). The investment will support further product development, sales and marketing.

ARK Technology has developed the ground-breaking environmental monitoring software, ARK Enterprise. ARK supports clients in integrating the software in order to use it to meet their environmental monitoring needs.

ARK Enterprise tracks all aspects of pollution in a company’s value chain and supports each client in reaching its environmental goals. Environmental benchmarks for each division are calculated based on data collected by ARK Enterprise. The software allows stakeholders to view key performance indicators through its interface and supports all organizational levels in following the environmental goals of pollution monitoring and energy use.

ARK Enterprise delivers better, reduced-cost, simplified waste management solutions. Clients receive a package that can help them fulfill regulatory requirements regarding waste management and emissions in one, simplified and effective software. ARK Enterprise also supports port authorities, municipalities and national governments in preventing ever-increasing land and sea pollution.

ARK Technology’s clients are leaders in continuous improvement to their environmental performance and use ARK Enterprise to do so. ARK is also supported by The Icelandic Centre for Research, Rannís and NORA.

Jón Ágúst Þorsteinsson, Chairman of the Board of ARK Technology
“ARK Technology strives to develop and integrate a solution which increases sustainability and reduces waste on all fronts. We are pleased that Brunnur Ventures has decided to work with us to continue to develop the company. It is essential that green technology companies grow and thrive so we can address the important issues that humanity faces due to climate change.”

Sigurður Arnljótsson, General Partner at Brunnur Ventures
“Companies in all sectors are now emphasizing the minimization of their environmental footprint and the software of ARK Technology is especially useful in this important project. Jón Ágúst Þorsteinsson, Chairman of ARK Technology, has decades-long experience, knowledge and connections with this industry after having established Marorka. We look forward to participating with him and the ARK team to build a powerful software company."

About Brunnur Ventures
Brunnur Ventures (Brunnur vaxtarsjóður slhf) is a USD $30 million venture capital fund focused on investing in Icelandic start-up companies, emphasizing innovation and growth, combined with scalable business models and extraordinary entrepreneurial talent. The Fund is managed by SA Framtak GP (www.saframtak.is) together with Landsbref hf.

Original story