Tulipop, maker of Tulipop world and character branded products, just announced a $2m financing round led by Frumtak Ventures. Þorbergur ehf., a previous investor, also participates in the round.

“Tulipop is an exciting investment opportunity. [It] is a company built on Icelandic ingenuity which has a huge potential for international growth,” says Svana Gunnarsdóttir, GP and co-founder at Frumtak Ventures. Svana will be joining the company’s board as chairman.

The company was established in 2010 by Helga Árnadóttir and Signý Kolbeinsdóttir. In 2015 the company was named Highly Commended for Best Newcomer in the Smallish Design Awards. Its products feature characters like Mr. Tree and Bubble from the magical island of Tulipop. This August the company will unveil a new line of Tulipop products licensed to Toynami, an American maker of quality toys.

Photo by Axel Sigurðsson.

Photo by Axel Sigurðsson.

“Since founding Tulipop six years ago, our goal has been to bring the world of Tulipop and its characters to kids around the world,” Helga, who is CEO of the company, says.

Tulipop’s products are sold in more than 120 stores in 14 countries. With the investment, the company aims to accelerate its international growth.

Tulipop has previously received an undisclosed investment by Þorbergur ehf., as well as a total of ~$120K in marketing grants from TDF.

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