12 – 18 September Turkey Startup Ecosystem Summary

This week, 7 Turkish startups received investment in the entrepreneurship ecosystem. 1 startup acquisition transaction was completed. The headquarters of 4 startups receiving investment are located in Istanbul and the headquarters of 3 startups are located in Ankara. 1 of the 7 startups that receive investment has at least one female entrepreneur among its co-founders.

The vertical distribution of 7 Turkish startups receiving investment is as follows:

1 Automotive

1 Tourism

1 Artificial Intelligence

1 Pet

1 Business Intelligence & SaaS

1 Food

1 Analytics

News of the Week

🎯  Buying and selling used cars trading platform VavaCars raised funding.

Turkey-based buying and selling used cars trading platform VavaCars, under the consultancy of Taylor Wessing, received an investment of 37 million dollars in the Series C investment with the participation of its existing investors and a new US-based main investor.

Transaction Type: Investment

Transaction Amount:  37.000.000 $

Investors: Existing Investors and a US-based Investor

Co-founders: Alizay Saeed, Lawrence Merritt

🎯 Travel experience platform Bilet.com raised funding.

The online ticketing site Bilet.com, which is moving towards becoming a ticket-oriented super app, received an investment of 1.2 million dollars from investors from abroad in the Series A round. The names of the investors were not disclosed.

Transaction Type: Investment

Transaction Amount: 1.200.000 $  

Co-founders: Doç. Dr. Atakan Kurt

🎯 SaaS startup Artifica, which offers artificial intelligence infrastructure to e-commerce companies, received investment.

The startup, which can provide data analysis to e-commerce companies with its artificial intelligence infrastructure, received seed investment from Artifica, Startupfon, Atanova Ventures, and DOMINO Ventures. Financial details of the investment were not shared. The startup was established in Hacettepe Teknokent in March last year.

Transaction Type: Investment

Investors: Startupfon, Atanova Ventures, DOMINO Ventures

Co-founders: Sadi Gürsoy, Tuncay Elvanağaç

🎯 Kito, a cat and dog food brand, raised funding.

Combining sustainability and technology in the pet food industry, Kito received an investment of 5.5 million TL from Zeta Investment and Serkan Ömerbeyoğlu. It plans a new investment round to enter the American and European markets.

Transaction Type: Investment

Transaction Amount: 5.500.000 TL

Investors:  Serkan Ömerbeyoğlu, Zeta Investment

Co-founders:  Alper Çağdaş, Cem Üster

🎯 TeaTechs Smart Solutions, which produces smart solutions with business intelligence, raised funding.

Ankara-based startup TeaTechs Smart Solutions, which produces smart digital transformation technologies with business intelligence, completed its seed investment round with a valuation of 2.5 million dollars under the leadership of ISTCAPITAL.

Transaction Type: Investment

Valuation:  2.500.000 $

Investors: ISTCAPITAL

Co-founders: Tunç Emre Toptaş, Ali Güven, Emrah Erşen

🎯 Biftek, which produces cultured meat, raised funding.

Developing natural and appropriate technology for cultured meat production processes, Beef Steak has closed the bridge investment tour over a 30 million dollar valuation from TR Angels and angel investors.

Transaction Type: Investment

Valuation:  30.000.000 $

Investors: TR Angels, Yiğit Aktulga, Fırat Özkan, Murat Özkan 

Co-founders: Prof. Can Akçalı, Dr. Erdem Erikçi, Kerem Erikçi, Melih Akçalı

🎯 Data analytics startup heybooster raised funding.

Heybooster, which produces reports by connecting them to marketing channels with an artificial intelligence-supported e-commerce analytics platform, received an investment of 2 million Euros under the leadership of LEAP Investment.

Transaction Type: Investment

Valuation:   2.000.000 €

Investors: LEAP Investment, Lima Ventures, Aegean Ventures, Murat Tora, Burak Dayıoğlu, Serdar Arıkan, Kaan Bingöl

Co-founders: Şahin Seçil, Neslihan Emikoğlu  

🛒 Mahmut Erdal acquired Turkey’s first curated NFT platform Metaverse startup Carny.

Metaverse startup Carny was acquired by Mahmut Erdal, chairman of Tual Holding.

Transaction Type: Acquisition

Investor: Mahmut Erdal (Tual Holding)

Co-founders : Elyo Elvaşvili, Nuri Sayraç, Rıza Dedehayır, Mark Basoğlu, Güneş Aydoğan (Carny)

 ✏️A Slice of Entrepreneurship 🍰

“Everything that is measured and monitored evolves.” 

Bob Parsons

  • Founder of GoDaddy

Other News:

📌  Applications for the Entrepreneurship World Cup (EWC), which will be held for the 4th time this year in partnership with Global Entrepreneurship Network and Monsha’at, have started.

📌 Entrepreneurship Center İzmir has determined the theme of the new era incubation center as “Smart and Sustainable Transportation”. Entrepreneur candidates residing in Izmir between the ages of 18-40, who have an entrepreneurial idea in the field of Smart and Sustainable Transportation, can be included in the program.

📌 500 Istanbul announced its new fund of 70 million Euros. The company will continue on its way under the name of 500 Emerging Europe.

📌 Aiming to extend the life of every product in the circular economy, Barty announced that it has stopped its operations. The startup will continue on its way with its new business model, Barty Digital.

📌  Sabancı Holding announced Sabancı ARF, an acceleration program for Sabancı Group employees and non-group startups. With the acceleration program, mentoring, cooperation, and investment support will be provided to early-stage startups.

📌 The winners of Koçfinans Demo Day, the innovation program where collaborations are planned with innovative technology startups within the scope of Koçfinans’ strategic priorities, have been announced. In the program, the artificial intelligence-supported portfolio management startup “Magnus” won first place with 50.000 TL, the savings and investment application “Yancep” was second with 30.000 TL, and the insurance startup “Tamamliyo”, which integrates insurance companies and digital businesses, won the third prize with 10.000 TL.

📌 EGİAD Angels General Coordinator Melisa İtmeç, StartupCentrum co-founder Nizamettin Sami Harputlu and TechXtile Program Coordinator Ufuk Batum took part in TechXtile Mind-Idea Meetings series last Sunday with the subject of “Future of Ecosystem”. It was discussed how start-ups receive investment, which criteria are important, and what awaits the venture-investment world in the future. You can access the replay of the broadcast on the “Startupcentrum and TechXtile” Youtube channel.

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