Unicorn Companies in Croatia in 2024
Croatia is making big strides in the European startup world, thanks to two unicorn companies that are boosting its tech industry.
It all started with Infobip and Rimac Automobili, two companies that have grown into global leaders. Infobip became Croatia's first unicorn in 2020, specialising in communication technology and now employing over 3,500 people worldwide. Rimac Automobili joined the unicorn club in 2022, leading the way in electric hypercar technology.
Croatia's startup scene has grown rapidly in recent years, faster than many other places in the region. This growth has brought international attention and shows just how important these unicorn companies are to the country's economy.
Let’s explore the remarkable Unicorn Companies in Croatia and see how they are transforming the tech landscape.
Rundown
S.No |
Name |
Valuation |
Date Joined |
City |
Industry |
|---|---|---|---|---|---|
1 |
Rimac Automobili |
$2B |
2022-01-06 |
Sveta Nedelja |
Industrials |
2 |
Infobip |
$1B |
2020-30-07 |
Vodnjan |
Enterprise Tech |
Unicorn Companies in Croatia
Rimac Automobili
- Valuation: $2B
- Industry: Industrials
- Investors: Porsche, InvestIndustrial, SoftBank Group
- Unicorn Milestone Date: 06/01/2022
About
Rimac Automobili is a Croatian technology powerhouse and unicorn startup, exemplifying the growing trend of Unicorn Companies in Croatia. Founded in 2009 by Mate Rimac, the company designs, engineers, and manufactures electric hypercars and high-performance EV components for the global automotive industry. Rimac has grown from a garage project to a global leader in electric vehicle technology, employing over 1,300 people.
Target Audience
Rimac Automobili targets two main audiences:
- Hypercar enthusiasts and ultra-high-net-worth individuals seeking cutting-edge electric hypercars
- Global automotive manufacturers looking for advanced electric vehicle technologies and components
Business Model
Rimac Automobili operates on a dual business model:
- Hypercar Production: The company designs and manufactures limited-edition electric hypercars, such as the Nevera, showcasing their cutting-edge technology and engineering capabilities.
- Technology Provider: Rimac develops and supplies high-performance EV components and technological solutions to leading car manufacturers worldwide. This includes powertrains, battery systems, and other advanced technologies.
Key Offerings
- Electric hypercars (e.g., Rimac Nevera)
- High-performance EV powertrains
- Advanced battery systems
- Power distribution and management systems
- Infotainment systems
- Low voltage electric systems
- Chassis and suspension components
- Full technology solutions for global automotive manufacturers
Key Management
- Mate Rimac: Founder and CEO of Rimac Group
- Marko Pejković: CEO of Project 3 Mobility (a Rimac-associated company)
Investment Timeline
- 2021: Received investment from Porsche, increasing its stake to 24%.
- 2022: Secured €120 million from Italian investment firm Investindustrial.
Infobip
- Valuation: $1B
- Industry: Enterprise Tech
- Investors: One Equity Partners
- Unicorn Milestone Date: 7/30/2020
About
Infobip is a global cloud communications platform that enables businesses to build connected customer experiences across all stages of the customer journey. Founded in 2006 in Vodnjan, Croatia, Infobip became the country's first unicorn in 2020. The company provides a full stack of messaging channels, tools, and solutions for advanced customer engagement, authentication, and security.
Target Audience
Infobip primarily serves businesses of all sizes across various industries, including:
- Enterprise companies
- Small and medium-sized businesses
- Developers and IT professionals
- Marketing and customer experience teams
Business Model
Infobip operates on a Communication-Platform-as-a-Service (CPaaS) model, offering cloud-based communication services on a pay-per-use basis. Their platform allows businesses to integrate various communication channels and tools into their existing systems through APIs and SDKs. Infobip generates revenue by charging for message volumes, API calls, and additional services like consulting and implementation support. They also have a partner program that allows other companies to resell Infobip's services, creating additional revenue streams.
Key Offerings
- Omnichannel messaging (SMS, WhatsApp, Viber, RCS, etc.)
- Voice services
- Email services
- Push notifications
- Chat apps
- Customer engagement solutions
- Contact center software
- Chatbot building platform
- Customer data platform
- Authentication and security solutions
