17-23 October Turkey Startup Ecosystem Summary

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This week, 7 Turkish startups received investment in the entrepreneurship ecosystem.  1 venture capital investment fund was established.

 The headquarters of 5 startups receiving investment are located in Istanbul.  One of the other startups is headquartered in Ankara and another startup is headquartered in England.

 Among the founding partners of 7 startups that received investment, there is 1 startup with at least 1 female founding partner.

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

 1 Data Analytics

 1 Educational Technologies

 1 E-Commerce

 1 Cyber ​​Security

 1 Game

 1 Energy

 1 Artificial Intelligence

News of the Week

Last week, 2 Venture capital investment funds(GSYF) received establishment permission.

In the bulletin published by the Capital markets board (CMB) last week, the news that 1 portfolio companies received establishment permission for 1 venture capital investment funds was shared. It is unclear whether this fund will directly invest in the Turkish entrepreneurship ecosystem.

Inveo Portföy Yönetimi A.Ş. Lycian Capital Venture Capital Investment Fund

🎯  Logistics-focused data intelligence startup Smart Kiwi, raised funding.

Smart Kiwi, which transforms the operational processes of fleet companies in the field of mobility and logistics with new generation data intelligence products, received an investment of £ 250.000 from Plug and Play and Startup Wise Guys.

Transaction Type: Investment

Transaction Amount:  250.000 £

Investors: Plug and Play, Startup Wise Guys

Co-founders: Angelo Delle Piane, Murat Derya Özen

🎯 Perculus, a new generation digital education tool, raised funding.

Perculus, an educational technology startup that hosts the tools a trainer needs in distance education on a single platform, received an investment of 400.000 dollars under the leadership of Boğaziçi Ventures.

Transaction Type: Investment

Transaction Amount: 400.000 $

Investors: Boğaziçi Ventures

Co-founders: Zafer Gürel

🎯 Clotie, the startup that offers a personalized shopping experience, raised funding.

Clotie, which provides an online styling platform service, received an investment of 600.000 dollar in the interim investment tour attended by APY Ventures and ALima Ventures.  Founded in 2017, the venture was included in İşbank’s Workup program in December of the same year.

Transaction Type: Investment

Transaction Amount: 600.000 $

Investors: APY Ventures, ALima Ventures

Co-founders: Engin Can Kurt, Selen Korkmaz

🎯 Ddosify, the startup focusing on performance and load tests, raised funding.

 Ddosify, the platform that performs performance testing/DDOS attack simulation by applying high load tests to web-based systems, received investment from 500 Emerging Europe.  Financial details were not shared.

Transaction Type: Investment

Investors: 500 Emerging Europe

Co-founders: Fatih Baltacı, Kürşat Aktaş

🎯 Mobile game studio Magic Games has raised funding.

 Magic Games, the mobile game startup founded by Peak Games employees, received a seed investment of 5 million dollars under the leadership of the Makers Fund.

Transaction Type: Investment

Transaction Amount: 5.000.000 $

Investors: Makers Fund

Co-founders: Çağrı Öztürk, Rüya Çelikcan, Mert Kasar 

🎯 GT Carbon, the startup that reduces energy consumption, raised funding.

 GT Carbon, which produces blades that provide engine efficiency, carbon monitoring and energy saving in high industrial facilities, received an investment of 4 million euros from Arz Portfolio 3rd Venture Capital Investment Fund.

Transaction Type: Investment

Transaction Amount: 4.000.000 €

Investors: Arz Portföy (Arz Portföy 3. Girişim Sermayesi Yatırım Fonu)

Co-founders: Savaş Tosun

🎯 Leo Drive, which develops driverless vehicle technology, raised funding.

Developing scalable and reliable autonomous vehicle hardware and software products, Leo Drive received investment from Japan-based TIER IV.

Transaction Type: Investment

Investors: TIER IV

Co-founders: Samet Kütük, Armağan Arslan

✏️A Slice of Entrepreneurship 🍰

“Micromanage the process, not the people.”

  • Joe Apfelbaum, Co-founder of Ajax Union


Other News:

📌 Applications for Climathon, which brings together those who struggle with climate problems in order to contribute to raising climate awareness, have started. The event, organized by ESİAD İzmir European Union Information Center, will develop projects on renewable energy, energy saving, energy efficiency and EU Green Consensus.

📌 With the cooperation of Avcılar Municipality Applied Solution and Innovation Center with Entertech Istanbul Teknokent, applications for Avcılar Municipality pre-incubation entrepreneurship support program are opened.

📌 Transforming SME Program Ideas Marathon, organized by Youth Business International and Habitat Association, is waiting for entrepreneur candidates and companies working in the field of inclusion or sustainability.

📌 The winner of the Pitch Challenge, organized in cooperation with Alesta Investment, APY Ventures and Geometry Angel Investment Network and in which StartupCentrum is also an ‘Entrepreneurship Ecosystem Supporter’, was From Your Eyes, an artificial intelligence-based description service for visually impaired individuals.

📌 Hedef Holding will establish Venture Builder with a fund of more than 200 million TL in the focus of the finance sector.

📌 Two new technology zones in Sakarya and Istanbul were published in the Official Gazette. Sakarya University of Applied Sciences Technology Development Area and Altınbaş University Technology Development Zone will be used as new technology zones.


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