North Macedonia
Europe · Pop. 1.8M
1 Overview
2 Largest rounds
Largest funding rounds in North Macedonia
A live treemap of $15M+ rounds from the Dealroom API. Each cell is one round into a North Macedonia-headquartered company, grouped by Dealroom sector.
Largest rounds in North Macedonia - 2026
3 Startup funnel
North Macedonia's power-law funnel
From the first cheque written to a $10B+ outcome. Each arrow shows what fraction of companies at one stage graduate to the next, tracked by founding cohort.
* Conversion rates are derived from current counts.
4 VC investment
How much venture capital flows into North Macedonia
VC investment into North Macedonia-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage.
5 Academia
North Macedonia's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to North Macedonia.
| # | University | City | Founders | Companies |
|---|---|---|---|---|
| 1 | University American College Skopje - UACS | Skopje | 13 | 14 |
| 2 | Faculty of Electrical Engineering & Information Technologies | Skopje | 4 | 4 |
| 3 | Ss. Cyril and Methodius University of Skopje | Skopje | 3 | 5 |
6 Location comparison
How North Macedonia stacks up
Compare North Macedonia with similarly sized ecosystems in Europe — switch between combined EV, 5-year EV growth, and a growth × size view. Expand the table for the full ranking.
Combined enterprise value of each ecosystem.
Top ecosystems in Europe ranked by combined EV. North Macedonia's row is highlighted (#12).
| # | Ecosystem | Combined EV | EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | United Kingdom | $1.1T | 4.6× | 226 | $29.8B | 20.3K |
| 2 | Germany | $404B | 4.2× | 94 | $8.3B | 8,814 |
| 3 | France | $399B | 5.4× | 66 | $8.4B | 9,174 |
| 4 | Netherlands | $325B | 2.8× | 44 | $3.5B | 3,949 |
| 5 | Sweden | $278B | 5.7× | 56 | $3.5B | 3,302 |
| 6 | Switzerland | $222B | 3.7× | 50 | $4.1B | 3,049 |
| 7 | Denmark | $142B | 4.3× | 24 | $1.8B | 1,681 |
| 8 | Spain | $108B | 4.8× | 18 | $3.3B | 4,611 |
| 9 | Belgium | $107B | 7.2× | 12 | $907.7M | 1,911 |
| 10 | Ireland | $105B | 4.7× | 26 | $1.2B | 1,990 |
| 11 | Finland | $79.1B | 3.9× | 10 | $2.2B | 1,763 |
| 48 | North Macedonia | $38.7M | — | 0 | $350K | 27 |
7 Premium analytics
What we don't show on this page (yet)
Sector breakdowns, founder origins, AI-talent leaderboards and live deal flow are gated to logged-in Dealroom users. Book a demo to access the full North Macedonia dataset — or see a sample on the Dealroom app.
More data
Explore Dealroom data →Get the full North Macedonia ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.