Serbian tech ecosystem is worth €909M with 243 startups launched

Dealroom powered a new platform to showcase the startups emerging from Serbia’s entrepreneurial community, thanks to the backing from the Digital Serbia Initiative and the Ministry of Science, Technological Development and Innovation. AIN.Capital publishes the key figures found in the report.

• The Serbian tech ecosystem is worth €909 million in combined enterprise value in 2022. This is €165 million than the year before and more than double the value of €341 million back in 2020.

• There are a total of 243 startups and scaleups that are headquartered in Serbia.
• Such ventures as Solrise Finance, Tenderly, Streamflow, Seven Bridges, mBrainTrain, Videobolt, Yolo Technology, B2Bee, and Blinking are among the most prominent in the ecosystem.
• Startups in the Fintech and Healthtech sectors have raised the most investment in Serbia in the last five years. Fintech startups managed to secure €65.3 million since 2018 and Healthtech followed with €59.4 million in funding. Other important industries are media, marketing, and security.

• In 2022, Serbia-based startups have raised a total of €39.6 million in funding. The average financing value is still unsteady with the most amount of funding in the region coming from Series A to Series C scale-ups. Pre-seed and seed investments only reaching up to €4 million a year.

• Among the most active investors in the region are South Central Ventures, Global Finance, StatLabs, Innovation Fund Serbia, and Endava.