Serbian IT company HTEC Group raises $140 million

The Serbian company HTEC (High Tech Engineering Center Group), which about a month ago acquired Momentum Design Lab from Silicon Valley, announced that it has reached an agreement with the investment fund Brighton Park Capital, (BPC) for an investment of 140 million dollars which will be spent on the company’s global expansion.

HTEC is engaged in consulting services, software engineering and digital product development services. It was founded in Belgrade in 2008, by Aleksandar Čabrilo and Dušan Kosić, as a startup within the Digital Incubator of the Faculty of Technology at the University of Belgrade, and its current headquarters is in San Francisco.

HTEC Group currently employs over 1,000 people, most of them in Southeast European countries, with 70 new jobs being created monthly. It is one of the fastest-growing digital services companies in Europe, posting 100% annual growth.

“Brighton Park’s investment, which is seen to be among the largest initial funding rounds recorded in Europe in 2021, will enable us to accelerate organic growth and acquisitions in new markets”, Čabrilo said.

HTEC Group has a strong track record of innovative product development, such as in digitising the shipping industry, creating wearable devices that measure fetal health and building robotic hands for warehouses.

(Blic, 26.01.2021)

This post is also available in: Italiano

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