10-16 October Turkey Startup Ecosystem Summary

This week, 6 Turkish startups received investment in the entrepreneurship ecosystem. 1 startup made a purchase. 1 investment company received investment. The headquarters of 4 startups receiving investment are located in Istanbul. One of the other initiatives is headquartered in Çanakkale and the other is in Kocaeli.

The vertical distribution of 6 Turkish startups receiving investment is as follows:

1 Sport

1 Blockchain

1 Education

1 Finance

1 Agriculture

1 Game

News of the Week

🎯 The new generation sports platform Sporzy has raised funding.

Sporzy, a social network and marketplace solution that meets the needs of athletes and studios and trainers who want to digitize their business processes through offline and online activities, renting facilities, participating in sports events, received approximately 4.5 million TL from B4YO Capital in its first core seed investment round after merging with Sporsal. received investment.

Transaction Type: Investment

Investment Amount: 4.500.000 TL 

Investors: B4YO Capital

Co-founders: Anıl Atılgan, Suat Görgülü

🎯 Elyzio, which develops the game universe with the blockchain infrastructure, raised funding.

Elyzio, which aims to develop new generation games with the blockchain infrastructure, received an investment of 2 million dollars under the leadership of vgames. Participated in the investment tour at Paribu Ventures.

Transaction Type: Investment

Investment Amount: 2.000.000 $

Investors:  vgames, Shima Capital, Solana Ventures, Paribu Ventures, Abdelmounaim Derraz

Co-founders: Doğan Can Yeğiner, Anas El Ferachi

🎯 Financial management and service venture wamo, raised funding.

Wamo, a financial service platform that provides services for the financial management and organization of companies and startups that want to expand abroad, received an investment of 1.5 million dollars with a valuation of 19 million dollars from Re-Pie Portfolio and angel investors.

Transaction Type: Investment

Investment Amount: 1.500.000 $

Valuation: 19.000.000 $

Investors: Re-Pie Portföy, Angel Investors

Co-founders: Yankı Önen

🎯 Artiox, an art investment platform focused on investing in blockchain-based artworks, raised funding.

Artiox, which enables users to invest in works by tokenizing works of art on the blockchain infrastructure, received an investment of $ 1 million on a valuation of $ 15 million.

Transaction Type: Investment

Investment Amount:  1.000.000 $

Valuation: 15.000.000 $

Investors: Hedef GSYO, Re-Pie, Alesta, Sertaç Özinal, Ideal Data Financial Technology, Namık Kemal Gökalp

Co-founders:  Tuncay Dakdevir, Cemal Doğan

🎯 Edtech startup Edurey, raised funding.

Edurey, the training experience platform that combines training processes with the experiences of employees, received an investment of 20 million TL under the leadership of Global Trust Venture. Edurey offers its customers different modules such as recruitment, training marketplace, NFT certification, gamification and social learning with LMS and LXP solutions.

Transaction Type: Investment

Valuation: 20.000.000 TL

Investors: Global Trust Venture, Emre Kocadağ, Soner Canko, Nezih Sipahioğlu, Mehmet Selman Ertürk, Can Mark Başoğlu

Co-founders: Fatih Köroğlu

🎯 Fintech startup Figopara, raised funding.

Gathering financial technology applications and the buyer-seller-finance trio on the same platform, the startup Figopara received an investment of 11 million dollars over 50 million valuations in the Series A tour led by L2G Ventures.

Transaction Type: Investment

Investment Amount: 11.000.000 $

Valuation: 50.000.000 $

Investors: L2G Ventures, Abdul Latif Jameel General Technology Ventures, Dünya Bankası Grubu üyesi IFC, Eczacıbaşı Momentum, Finberg, İş Bankası Maxis Yenilikçi GSYF, Logo Yazılım, Sabancı Ventures,  ScaleX Ventures, TechOne Venture Capital, TKYB Sermaye Fonu(Türkiye Kalkınma Fonu)

Co-founders:  Arman Eker, Koray Gultekin Bahar

🎯 Venture capital investment firm Heaventures has raised funding.

Heaventures, which makes smart capital investments, received an investment of 26 million TL over a 211 million TL valuation from the investors it joined as an investor partner to raise funds for the ventures it will invest in and to grow its smart capital.

Heaventures has offered acceleration programs with the venture development company Heavendev, which was founded in 2022. In addition, the company continues to support startups with the incubation centre Heavencube, which will open soon.

Transaction Type: Investment

Investment Amount: 26.000.000 TL

Valuation: 211.000.000 TL

Investors: Melih Ödemiş, İbrahim Akman, Tarkan Onar, Ateş Buldur, Emre Omacan 

Co-founders: Nurettin Şendoğan, Utkan Şanda, Aylin Şahin, Erdem Yurdanur

🎯 Bridgesoft, the startup that develops smart agricultural products, raised funding.

Bridgesoft, a smart agricultural products startup that produces products that increase operational efficiency with image processing and deep learning technologies, received an investment of 8 million TL over a 45 million TL valuation from Letven Capital Tars Venture Capital Fund.

Transaction Type: Investment

Investment Amount: 8.000.000 TL

Valuation: 45.000.000 TL

Investors:  Letven Capital Tars Girişim Sermayesi Fonu

Co-founders: Berkay Koçak

🎯 Game studio Umuro Game has raised funding.

Çanakkale-based gaming startup Umuro Game raised funding of 32 million TL valuation by Keiretsu Forum Turkey angel investors.

Transaction Type: Investment

Valuation: 32.000.000 TL

Investors: Keiretsu Forum Türkiye

Co-founders: Umur Burak

🛒 Voice technologies startup  Sestek, acquired by Unifonic.

Sestek, which offers voice and artificial intelligence-focused solutions, was acquired by Saudi-based communication technology company Unifonic. Financial details of the purchase were not disclosed.

Transaction Type: Acquisition

Investors: Unifonic 

Co-founders: Prof. Levent Arslan(Sestek)

 ✏️A Slice of Entrepreneurship 🍰

“Get big quietly, so you don’t tip off potential competitors.”

  • Chris Dixon, Investor

Other News:

📌 Ataşehir Women’s Entrepreneurship Center announced the ‘Pre-Incubation Camp for Early Stage Startups’ training program. Applications for the program, which aims to enable entrepreneurs to take firmer steps by modelling their business ideas at the idea stage, continue with opportunities such as training, mentoring and co-workspace.

📌 Local startup Colendi founded Colendi Insurance to offer solutions with a new-generation insurance approach.

📌 Applications for the AccelerateX Program, realized in cooperation with Endeavor Turkey and Google, have started.

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