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In Europe, Berlin, the Netherlands and London are places where there is a flourishing tech ecosystem. And, you might not expect to see many such companies in Croatia as it is known for its historic monuments. With a history dating back to the 9th century, it is a quiet tourist destination.
But there are exceptions with notable startups have their roots in Croatia. Especially, many popular tech companies have their headquarters in cities including Vodnjan and Zagreb. Drilling down a little deeper, you might even be surprised to see that the country has numerous startups ranging from Infobip, a messaging company to Rimac Automobili, which makes the fastest electric cars in the world. Also, there are companies such as Gideon Brothers that make autonomous robots.
Without further ado, here we have curated a list of Croatian tech startups that you should know as sourced from Dealroom.
Rimac Automobili
Founders: Mate Rimac
Total Funding: €110 million
Valuation: €120 million to €180 million
Founded Year: 2009
Why its hot: Rimac Automobili manufactures electric hypercars and provides technology solutions to the automotive makers across the world. This company makes the world’s fastest electric cars. The flagship model is Concept_One, which was entirely designed, developed and manufactured by the company. It operates with the ambition to become a full electrification partner for other OEMs in the industry.
PhotoMath
Founders: Damir Sabol
Total Funding: €5.5 million
Valuation: $24 million to $36 million
Founded Year: 2014
Why its hot: Ever since its launch, Photomath is an edu-tech startup. It has topped the App Store and Google Play Store education charts and is trusted by millions of users. Photomath is a proud winner of the 4YFN competition held in Barcelona, which is the world’s largest startup competition focusing on mobile technologies and business models. Also, the company has received the Netexplo Forum Award for its work in educational technology.
Claro
Founders: Michael Beygelman
Total Funding: €2.1 million
Valuation: $4 million to $7 million
Founded Year: 2014
Why its hot: Claro is a global platform offering unique workforce insights. It helps organisations identify and recruit talent faster. Also, Claro improves employee engagement and minimise voluntary attrition. The team at this startup helps companies leverage talent as the competitive advantage to gain an upper hand over their challengers.
Bulb Technologies
Founders: Neven Stipcevic, Vedran Rezar
Total Funding: €2 million
Valuation: €8 million to €12 million
Founded Year: 2006
Why its hot: Bulb Technologies helps enterprises deliver a superior customer experience and reduce cost related to customer support. Eventually, companies can generate increased revenue. Since its debut, Bulb Technologies is one of the biggest operators across Europe and its clientele includes United Groups, Deutsche Telekom and Telekom Austria.
Gideon Brothers
Founders: Edin Kočo, Josip Ćesić, Kruno Stražanac, Matija Kopić, Milan Račić
Total Funding: €2.2 million
Valuation: $8 million to $12 million
Founded Year: 2017
Why its hot: Gideon Brothers is robotic startup involved in the development of autonomous robots for industrial purposes. The company is developing a robot autonomy that positions deep learning on top of a camera-based perception to come up with a new type of robot vision, which is reliable and rich in data. It is a combination of hardware and software and has the capacity to convert a variety of machines and vehicles into AI-powered robots.
Include
Founders: Ivan Mrvoš
Total Funding: €3 million
Valuation: €15 million
Founded Year: 2014
Why its hot: Smart street furniture startup Include is based in Zagreb. It sells Steora smart benches and Monna smart cycling points in 43 markets across 260 cities. It has installed over 1000 products and works with large global corporations including Red Bull, Nokia, Kia, British Petroleum, Coca Cola and Deutsche Telekom. Include’s founder was listed as one of the “30 under 30 entrepreneurs’ by Forbes Magazine.
Amphinicy
Founders: Toni Jelavić
Total Funding: €1.3 million
Founded Year: 1999
Why its hot: Amphinicy belongs to the satellite world with its highly fitted and exceptional software solutions. It is a part of the satellite industry evolution. The company aims to be a leading company providing software solutions in the satellite industry in the next few years. The team at Amphinicy comprises highly competent and carefully picked people.
Agrivi
Founders: Matija Zulj
Total Funding: €1.3 million
Valuation: €4 million to €6 million
Founded Year: 2013
Why its hot: The Agrivi is a leading global agritech company operating with the vision to change the way food is produced. The company is involved in building knowledge-based farm management solutions addressing various requirements of farmers of all sizes, food sourcing industry, agricultural cooperatives, NGOs, financial industry, governments and more. It aims to achieve sustainability and resource-efficient agricultural production.
Degordian
Founders: Daniel Ackermann, Tomislav Grubišić
Total Funding: €1 million
Valuation: €4 million to €6 million
Founded Year: 2009
Why its hot: At Degordian, they believe in coming up with unique ideas and turning them into innovative digital work. It is a full-service digital agency working with a passion for performance marketing and solutions inspiring curiosity. It has worked on projects including Mediatoolkit, which is a media monitoring tool, Socialnumbers.com and Socialpuzzle.com.
Sentinel
Founders: Gregor Pipan, Marko Pihlar, Matic Herman, Pedro Kostelec
Total Funding: €1 million
Valuation: €4 million to €6 million
Founded Year: 2015
Why its hot: As boat owners and boat rental companies have very limited options to monitor and control their boats, Sentinel has developed a boat maintenance and logistics platform that will provide features such as fleet tracking, battery life monitoring and usage information. Sentinel was awarded the Best IoT Startup by CESA as it intends to transform the marine industry.
Stay tuned to Silicon Canals for more updates in the tech startup world.
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Rimac’s valuation is currently north of 600 million euros. I wouldnt be surprised If the true valuation of the company is already in the billions.
Infobip should be listed on that list. With annual revenues north of 500 million dollars and growing 30-40% annually, their valuation must be north of a billion dollars.