Three startups from Serbia raise over EUR 4 million investments in 2024

According to the annual “Venture in Eastern Europe Report” overview of the Eastern European investment scene, the most successful among the Serbian startups in 2024 were Lupa Technology (EUR 1.6 million in the seed phase), Hunch (EUR 1.5 million) and KOKODI (EUR 990,000).

In Serbia, during 2024, the investment flow was especially dynamic, with the majority of the investments coming from pre-seed and seed rounds of financing. This points to a growing startup ecosystem which attracts risky capital in early development phases.

The specificity of the Serbian market is reflected in its orientation to supporting early phases of startups, which makes for a healthy foundation for future growth and international expansion.

In addition to Serbia, a similar investment dynamic is shown by North Macedonia, Moldova, Bosnia and Herzegovina, Slovenia and Albania, where pre-seed and seed rounds were also dominant. This similarity emphasizes the need for strengthening the later phases of financing in the region, in order to ensure sustainable technological progress.