The State of Adria Tech 2021-2022

Business angels of Slovenia were among the leading partners in preparing The State of Adria Tech report led by Silicon Gardens. The research examines tech companies that have received investments in 2021 or 2022 and have Slovenian, Croatian, or Serbian funders as active participants.

The analysis unveils a remarkable growth in investments in tech companies within the Adria region, skyrocketing from around €300 million between 2016 and 2017 to an impressive €3.45 billion between 2021 and 2022. This exponential twelve-fold investment increase presents the region’s exceptional market development over the past five years. Moreover, there has been a five-fold increase in the value of exits and secondaries within the Adria region since the end of 2016, with a total combined value of €4.7B up to 2022. Furthermore, unicorns have escalated from one to six, providing additional evidence of the region’s enormous technological progress in recent years. In addition to these findings, it is noteworthy that regional tech companies that have successfully raised capital operate across a record number of industries. Besides, their extensive use of SaaS as a business model indicates regional tech companies’ impressive expertise in software development.

However, the survey also highlights that most of the invested capital in the region comes from the USA (75%) and that the most successful tech companies in terms of operational performance and investment raise base their legal seats outside the Adria region.

Read the full report below.



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