This Croatian startup currently employs 45 people. Its income in 2013 was thirteen million kuna, last year it reached 35 million, and in 2019, 50 million kuna is expected.
As Poslovni Dnevnik/Bernard Ivezic writes on the 20th of May 2019, the Croatian startup Zipato develops and manufactures smart home systems, which results in a Croatian solution that can compete globally with the likes of Apple, Google and Samsung. Just recently, 10,000 central ”Zipabox” smart home computers have been delivered to the USA from right here in Croatia.
With that contract, the Croatian company concluded its single biggest job so far. Sebastian Popović, the co-founder of the former Vodatel, who is today the co-founder and director of Zipato, didn’t want to delve too deep into the details of this contract, but he emphasised the fact that it was so significant that the production of Zipabox systems has moved to Zagreb.
For nine years now, 30,000 pieces of the same product but in its smaller series were sold across the Atlantic in America. Since then, far bigger orders have been dealt with by developers and OEM partners who have been equipping a larger number of apartments and various business premises with Zipabox’s system.
“I expect there will be more similar contracts,” stated Popović.
Sebastian Popović, along with Damir Sabol, is the only Croatian entrepreneur who has managed to build a profitable startup on the Croatian telecom market and then sell it successfully. Sabol sold Iskon to Croatian Telecom for 100 million kuna back in 2006, and Popović sold Vodatel to the former Metronet (currently integrated into A1 Croatia) for 80 million kuna just one year later. While he was in Vodatel, he developed the “eTV media centre”, a computer that is the counterpart of today’s well known IPTV set-top box.
Moreover, his former Vodatel was the first in Croatia to launch IPTV as a commercial service back in 2005. It had almost all of the functionality of today’s IPTV, including video on demand. After the sale, Vodatel briefly moved to the building industry, but the global financial crisis, which hit Croatia in 2008, pushed that Croatian company back towards technology.
“We started nine years ago when we imagined ourselves quickly developing hardware and offering a smart home service in Croatia. However, we needed three years just to be able to show the first version of Zipabox,” Popović noted.
He added that despite this, the hard work and effort definitely paid off. Although there were already many devices on the market and various smart home sensors around, either they weren’t properly compatible with each other, or their installation and connection required large and burdensome investments.
“From the outset, we attracted the interest of customers from different parts of the world, mostly from some of the most developed countries, and they started contacting us and distributing and promoting Zipato in their countries,” Popović said.
Today, the Croatian Zipato is present in an impressive 89 countries and across five continents. On its platform, more than 300,000 IoT devices are currently connected to 50,000 households and other spaces. The big business opened up its doors when this Croatian startup started to work directly with integrators and developers in the construction industry, instead of just with individual customers and distributors, who were so well equipped with new builds.
Popović emphasised the fact that they have had contacts with such companies in that industry since as far back as the year 2000.
As stated at the beginning, this impressive Croatian startup employs 45 people, it saw income of thirteen million kuna back in 2013 and as much as fifty million kuna is expected this year. In the last four years, they have also begun to contract OEM deals for telehandlers, power companies and other utility companies.
Make sure to follow our dedicated business and Made in Croatia pages for much more.
Click here for the original article by Bernard Ivezic for Poslovni Dnevnik
