Czech tech firms lead CEE region in new Deloitte business ranking

The technology sector in the Central and Eastern Europe (CEE) region is surging, with Czech companies leading the way in the consulting firm Deloitte’s Technology Fast 50 Central Europe 2024 report.

Czechia claimed 17 spots out of a total of 50 on the list—over one-third; more than any country—underscoring its position as a regional powerhouse in innovation.

The annual report, now in its 25th year, ranks the 50 fastest-growing technology companies in CEE based on operating revenue growth between 2020 and 2023. Eligible companies span software, fintech, environmental technology, and communications sectors, with neighbors Poland and Slovakia also emerging as top contributors.

At the forefront of the rankings was Prague-based Oddin.gg, a betting technology company that achieved revenue growth of almost 8,000 percent last year. Oddin's success stems from its use of machine learning and real-time data processing; sportsbooks and betting platforms now use Oddin's software worldwide.

Czechia’s representation on the list reflects the diversity of its tech ecosystem, with notable contributions from environmental tech firm Sensoneo and healthcare solutions provider Medevio.

Other high-performing Czech companies include Magu, a health drink innovator that ranked second on the Deloitte list, which multiplied its revenue growth by 40 times in the space of a year. Additionally, Adam, a Czech-based platform connecting homeowners with renovators, earned recognition in Deloitte’s “Companies to Watch” category.

JOBka, a digital platform designed to streamline communication and operations between employers and employees, and Woltair, a company specializing in renewable energy solutions, were two other Czech tech startups that saw several-fold growth in the past year.

Deloitte describes that these successes highlight the country’s capacity to innovate across multiple industries, solidifying its role as a key player in Central Europe’s burgeoning tech landscape.

Czechia's start-up sector showed notable growth last year, underlining its steady development. The total volume of money directed to Czech startups increased by 37 percent year-on-year, reaching CZK 16.6 billion. Investments in these companies rose significantly, from approximately CZK 5 billion in the previous year to CZK 14.5 billion in 2024, Czech business-news outlet CzechCrunch writes.