The Company

Oxymap is an Icelandic company whose flagship product is the Oxymap T1 – a solution for non-invasive ocular measurements. The company produces novel imaging products and services targeted towards eye-care professionals and clinical researchers to further the understanding of common eye diseases.

A team of researchers established Oxymap in Reykjavik in 2002. Their efforts lead to the creation of the Oxymap T1 add-on for a fundus camera, which allows for non-invasive retinal oxygen saturation and vessel-width measurements. The device and accompanying software provide user-friendly access to metabolic and structural information with a single image. Customers at many international institutions are currently relying on the Oxymap T1 for their investigations.

The Oxymap development team places a high value on customer feedback as it continually improves the device and software. The bulk of product assembly is carried out by specialised contractors and the final validation performed in-house. Installation, training and customer support for the Oxymap T1 are carried out by experienced employees. An ISO 13485-based quality management process guides the constant improvement of the device, software and customer experience.


The Team

Arni Thor Arnason, CEO Is a graduate of the Commercial College of Iceland. Arni Thor has over thirty years of experience in the import and distribution of medical and pharmaceutical goods in Iceland. From 1972-2005 he served as sales manager, managing director and later as CEO of Austurbakki hf as they joined the Icelandic stock market. As well as being the chairman of the board of directors and CEO of Oxymap (2008-2015) and chairman of the board of Ormsson (2013-, an import wholesale distributor) Arni is currently the board member of Green Diamond International ehf (2007-).

Einar Stefansson, founder and board member, M.D., Ph.D., professor of ophthalmology, has applied himself for the past twenty-five years to research in the oxygen metabolism of the retina and has published over one hundred peer reviewed articles on the subject. Pr. Stefansson is also the executive editor of Acta Ophthalmologica.


Ólöf Vigdis Ragnarsdóttir, chairman of the board, Can.Jur. Ólöf Vigdís has a wide range of experience of the innovation and startup environment. She works as an Investment Manager at the New Business Venture Fund and holds several board member positions in companies in the Fund portfolio. Before that she worked at the Technology Transfer Office at the University of Iceland and Landspítali (2012-2018) in addition to working as Director of Tæknigarð and Tækniþróun. Ólöf worked for years at the Icelandic Patent Office (2004-2012).


Sigridur Snaevarr, board member, Sigridur was appointed
ambassador at the age of 38, 25 years ago, the first Icelandic woman to hold this position. She started her diplomatic career in the Soviet Union in 1979 at the height of the Cold war. After a career, in Germany and later as Ambassador in Stockholm, South Africa during Nelson Mandela and as ambassador in Paris, Rome, Lissabon and Madrid, she took a temporary leave of absense from the diplomatic service to start her own company to train 1100 jobseekers from all walks of life in the aftermath of the Economic crisis of 2008, working closely with start-ups in the process. Now, back in the foreign service she trains diplomats both as new- comers and couches ambassadors before they leave for a posting. She has been with Oxymap for years.


Robert Arnar Karlsson, Board member, M.Sc., engineer, software development manager, specializes in signal and image processing. Robert has been with Oxymap since 2003 and co-designed the software for oximetry measurements.

Sveinn Hakon Hardarson, board member, PhD in biomedical sciences, has worked on retinal oximetry since 2005. He has performed testing and clinical studies with the Oxymap T1 oximeter and a previous prototype. Sveinn has published 14 scientific articles on the use of retinal oximetry technology. His PhD project was performed with a previous prototype of the Oxymap oximeter. Sveinn has extensive knowledge on oximetry technology and retinal physiology.