State of Adria Tech goes live

This study examines tech company investments in the Adria region, with a specific focus on those supported by funders from Slovenia, Croatia, or Serbia between 2021 and 2022.

State of Adria Tech goes live
Photo by Mikita Karasiou / Unsplash

We are thrilled to announce that the Silicon Gardens Fund team has compiled a comprehensive State of Adria Tech report, which delves into the VC investments in the region. While a similar report was released in the past, it focused solely on Slovenia. This new report provides a comprehensive overview of the entire region, and we are excited to explore it.

The Adria tech space is quite vast, with six active unicorns in the region and a total of 3.45 billion euros of capital raised - a significant increase from five years ago. Croatia leads the way, having raised 1.86 billion euros across 88 deals, followed by Slovenia with 1.25 billion euros across 209 deals, and 325 million euros across 24 deals.

There is a wide variety of industries that are being focused on. The largest categories are enterprise software, with 52 startups, and Fintech, with 30 startups. Following closely behind are Food, with 24 startups, and Transportation, with 21 startups.

Growth of investments in Slovenia from 2006 to 2022 (Source: State of Adria Tech Report)

Statistics for Slovenia are available for a longer period, revealing exponential growth after 2013. Adria region's growth was in sync with the overall VC space in Europe, but at a higher rate. As more VC funds enter the region in the coming years, further growth is anticipated. The pipeline of new startups also appears promising, with successful unicorn stories inspiring young people to build startups.

Check out the whole report, it is available here!

Over the past 5 years, Nlaw has been actively engaged in numerous regional transactions, and we take great pride in our involvement.

Partners providing data also include (among others) Fil Rouge Capital, Digital Serbia, South Central Ventures, Business Angels of Slovenia, Technology Park Ljubljana, Slovene Enterprise Fund, Startup Slovenia.