Icelandic startup GRID raises $3.5 million to “free the spreadsheet”

GRID, a Reykjavik-based SaaS startup that translates spreadsheets into web reports, has landed a $3.5 million funding round led by BlueYard Capital, with participation from strategic investors such as Slack Fund, Acequia Capital, and angel investor Charlie Songhurst.

There isn't much public information about GRID's product, but the main idea that powers it is to transform spreadsheets into something more exciting, such as interactive web apps, dashboards, and reports. The startup has recently launched a private alpha version of the platform.

The current round, which brings the total funding raised by GRID to $4.5 million, “fuels current plans well into 2021,” it stated in a blog post. The startup is going to hire a few more people and keep working on the product.