The Western Balkans is steadily gaining recognition for its growing tech ecosystem, marked by notable investments and startup successes. Kosovo’s Gjirafa secured $5 million to support its regional growth, while Bulgaria attracted over $264 million in funding in 2023. Startups like Macedonia’s HeyReach are making their mark, and cybersecurity remains a key focus, as highlighted at Belgrade’s recent summit on social engineering threats.
Kosovo-based technology and e-commerce platform Gjirafa has secured a $5 million investment from the U.S. International Development Finance Corporation (DFC) as part of its upcoming Series C funding round. This investment aims to strengthen the internet economy in the Western Balkans and support Gjirafa’s regional growth initiatives. Read more.
Bulgaria is steadily building its reputation as a startup leader in Southeast Europe, attracting over 264 million dollars in investments in 2023. This marks a fourfold increase compared to five years ago and reflects the country’s growing importance in the region’s innovation landscape. Read more.
With an initial investment of half a million dollars, Howitzer started in 2021 as a student initiative. Three years after pivoting in HeyReach, the Macedonian startup is profiled as one of the few players on the market with its own unique product that generates annual earnings of $2.4 million. Read more.
At the Cyber Security Summit – Cyberfy in Belgrade, experts highlighted the dangers of social engineering, showcasing a case where attackers used trust and urgency to execute a phishing scheme that compromised systems and stole sensitive information. Read more.
