The Serbian startup ecosystem in 2025 navigated a “maturity test” as global venture capital slowed down. While the number of total investments in Serbian startups is on the lowest end in the region, the quality of startups is rising.
In 2025 we also see a surge of outlier startups with Serbian founders, headquartered abroad. For now, being located in more prominent ecosystems is the safest bet a Serbian founder can compete on a level playing field with a startup from Palo Alto or Berlin.
Despite the overall lower investment activity, the success of companies like Dren Bio, which saw a nearly $2 billion exit, needs to be remembered as a proof that deep-tech and science-based projects from the region can compete at the highest levels.
Below, you can find the biggest 2025 funding rounds in Serbian startups, along with key details about them. Check the rest of the Central and Eastern Europe 2025 mappings here.
This article is part of the CEE funding mapping series, done with the support of Dealigence platform. Please feel free to contact us if we missed something: [email protected]. / If the deal’s original currency wasn’t the euro, we convert it to the ratio listed on the publishing day.
Serbian Startups: TOP Funding in 2025
Dash0
(Serbian founded; USA, New York HQ)
About: Dash0 is building the first AI-native observability platform with Agent0 at its core — an SRE AI agent that acts as a copilot to help developers and operators fix application and infrastructure issues and create artifacts such as alerts, dashboards, and pipeline rules.
Founders: Mirko Novakovic
Vertical: DevTech
Latest round: €30.07M ($35M)
Stage: Series A
Investors: Cherry Ventures, Accel, DIG Ventures
Total funding: €38.66M
Yuno
(Serbian founded, Germany HQ)
About: Application that enhances users’ general knowledge through playful and simple integration of general education into daily life, targeting those looking to broaden their horizons and improve their skills.
Founders: Vladimir Cotric; Cornelius Rantzau
Vertical: EduTech
Latest round: €7.14M ($8.30M)
Stage: Series A
Investors: Blast.club, 468 Capital, FAIR VC, New Renaissance Ventures, Atlantic Labs, IBB Ventures
Total funding: N/A
nextesy
(Serbian and Bosnian founded; Switzerland HQ)
About: An enterprise operating system provides solutions and tools for organizations to streamline processes, enhance collaboration, and leverage data for insights and decision-making, fostering growth and transformation in a connected business environment.
Founders: Aleks Grujić; Dario Fazlić; Milan Kuzmanović; Stefan Mitrović; Miloš Čalija
Vertical: Business Process Management, AI, SaaS
Latest round: €3.5M
Stage: Seed
Investors: SICTIC; Fifth Quarter Ventures
Total funding: €3.16M
Bubo2
About: End-to-end SaaS platform that enables businesses to create, manage and display photorealistic high-value 3D models of their products, such as used construction equipment, vehicles and maritime assets directly in the search engine.
Founders: Perica Milošević; Miloš Popović
Vertical: DeepTech, 3D, Ecommerce & Retail
Latest round: €2M
Stage: Seed
Investors: South Central Ventures, Fifth Quarter Ventures
Total funding: €2M
Prepia
About: Offers a mobile-first learning platform that helps professionals in the U.S. prepare for over 100 healthcare and IT certification exams through personalized, interactive AI-driven content.
Founders: Viktor Pešić, Ivan Jurišić
Vertical: Education
Latest round: €1.5M
Stage: Seed
Investors: Inovo VC, Silicon Gardens
Total funding: €1.5M
Veli
About: A digital asset investment platform that enables financial advisors to onboard clients and manage portfolios with offerings such as cryptocurrencies, crypto strategies, and tokenized assets, along with expert support and educational resources.
Founders: Stevan Radonjanin; Marko Selaković
Vertical: Finance; Blockchain
Latest round: €100K
Stage: Seed
Investors: Omorika Ventures; Digital Serbia initiative
Total funding: €273K
Other important deals
The business angel network of the Digital Serbia Initiative has invested in Vinaver Medical, a local startup developing software solutions to enhance medical diagnostics and therapy planning in oncology using artificial intelligence and spectral CT technology.
Serbian biotech company Dren Bio was sold for $1.9 billion to the French giant Sanofi.
Emergent BioSolutions Inc., a leading public health company has completed a strategic financial investment into Swiss Rockets, the parent company of Rocketvax, founded by Vladimir Cmiljanovic, Natasa Cmiljanovic and Manuel Ebner.
