1 Startup funnel
Serbia's startup funnel
Companies headquartered in Serbia at each stage today, by total VC raised. Hover or tap a bar for the split.
Source: Dealroom.co
2 Latest quarter
Serbia's latest quarter in venture capital
Venture capital raised by Serbia-headquartered companies each quarter since 2020, split by round size, with detail on the latest complete quarter.
Latest complete quarter
Loading VC raised by Serbia-headquartered companies…
3 Enterprise value
How much Serbia’s VC-backed companies are worth
Combined enterprise value of VC-backed companies headquartered in Serbia, founded since 1990 and still operating, at the end of each year. Companies stay in the total after they list or are acquired.
4 VC investment
How much venture capital flows into Serbia
VC investment into Serbia-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage.
5 Largest rounds
Largest funding rounds in Serbia
A live treemap of $15M+ rounds from the Dealroom API. Each cell is one round into a company headquartered in Serbia, grouped by Dealroom sector.
Largest rounds in Serbia - 2024–2026
6 Founder origins
Where Serbia's unicorn founders build
10 founders born in Serbia are behind 6 unicorns; 67% of those were built in the US. Origins are resolved from biography and education history, not current address. Compare with the other origin countries in Europe, ranked by founders or per 1M inhabitants.
7 Location comparison
How Serbia stacks up
Compare Serbia with similarly sized ecosystems in Europe — switch between combined EV, 5-year EV growth, and a growth × size view. Expand the table for the full ranking.
Combined enterprise value of each ecosystem.
Top ecosystems in Europe ranked by combined EV. Serbia's row is highlighted (#12).
| # | Ecosystem | Combined EV | EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | United Kingdom | $1.2T | 4.7× | 230 | $27.3B | 21K |
| 2 | Germany | $409B | 4.2× | 99 | $8.3B | 9,034 |
| 3 | France | $404B | 5.4× | 69 | $8.3B | 9,103 |
| 4 | Netherlands | $376B | 3.3× | 48 | $3.4B | 3,957 |
| 5 | Sweden | $264B | 5.4× | 56 | $3.5B | 3,393 |
| 6 | Switzerland | $220B | 3.7× | 50 | $4.2B | 3,135 |
| 7 | Denmark | $141B | 4.3× | 24 | $1.9B | 1,749 |
| 8 | Belgium | $113B | 7.5× | 13 | $1.1B | 1,990 |
| 9 | Ireland | $107B | 4.7× | 26 | $1.2B | 1,975 |
| 10 | Spain | $105B | 4.7× | 18 | $3.3B | 4,636 |
| 11 | Finland | $80.6B | 4.0× | 14 | $2.2B | 1,810 |
| 38 | Serbia | $1.2B | 3.8× | 1 | $15.2M | 116 |
More data
Explore Dealroom data →Get the full Serbia ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.