Check out the 14-slide pitch deck HTEC, a technology and product development provider, used to raise $140 million
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- Serbia-based HTEC Group just raised one of the region’s largest startup rounds.
- The startup, which was founded in 2008, has raised $140 million in its first external deal.
- Check out the 14-slide pitch deck HTEC used to raise the fresh funds below.
A startup that uses an army of engineers to provide technology and product development services for companies like shipping giant Stena Line has raised $140 million in fresh funds.
Serbian firm HTEC Group, which is headquartered in San Francisco, employs a mix of technology experts, creative thinkers, consultants, and over 900 engineers to solve problems for companies in sectors such as medtech, transportation, fintech, and banking. For example, the company helped implement a contactless payment system in the Netherlands’ public transport sector, enabling users to pay with their phones or cards.
Founded in 2008, HTEC claims to have grown 100% year-on-year and has raised one of Serbia’s largest-ever funding rounds.
“Growing the company has been a difficult tech challenge because Serbia was previously really a closed country,” Aleksandar Cabrilo, CEO at HTEC Group, told Insider. “We wanted to prove ourselves to try and change the perception of the region. We have around 1000 engineers now and want to be 2000 by the end of next year.”
HTEC now has 10 offices globally including a major hub in its San Francisco headquarters where it works in tandem with companies looking for engineering and consulting services. Case studies of HTECs work include disparate services from building medical devices and recording fetal ECG results to adding algorithms to microchips, Cabrilo said.
The funding, which comes from growth equity investor Brighton Park Capital, is effectively the company’s first major external deal, according to Cabrilo. “This deal enables us to further scale our product design team, fund acquisitions, and organic growth in new markets because we want to expand further in Europe and the US,” he added.
Check out HTEC’s pitch deck below: