2 – 8 January Turkey Startup Ecosystem Summary

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Last week, 5 Turkish startups received investment in the entrepreneurship ecosystem. The headquarters of the startups that received investment were distributed as Istanbul, Izmir and London. 3 different venture capital investment funds were also established.

The vertical distribution of the startups receiving investment is as follows:

1 Retail Technologies / Retail Analytics

1 Property Technology

1 Textile

1 Micro Mobility

1 3D Technologies

Three of the startups that received investment use Artificial Intelligence and Machine Learning technologies.

News of the Week

Last week, 3 Venture Capital Investment Fund (GSYF) received establishment permission.

In the Turkish Capital Markets Board (CBM) bulletin published on Thursday, January 5th; It was announced that 2 portfolio companies received establishment permission for 3 venture capital investment funds.

Permitted Funds:

Kızılay Gayrimenkul ve Girişim Sermayesi Portföy Yönetimi A.Ş. Third Real Estate Investment Fund

Maqasid Gayrimenkul ve Girişim Sermayesi Portföy Yönetimi A.Ş. Fonbulucu Gelecek Venture Capital Investment Fund

Maqasid Gayrimenkul ve Girişim Sermayesi Portföy Yönetimi A.Ş. Fontar Venture Capital Investment Fund

🎯 Retail analytics platform REM People raised funding.

REM People, which develops AI-based image recognition technologies and retail analytics solutions, received an investment of 12 million dollars under the leadership of San Diego-based investment company Ethos Asset Management.

Transaction Type: Investment

Investment Amount: 12.000.000 $


Investors: Ethos Asset Management

Co-founders: Bülent Peker, Emre Haraccioglu, Mert Alemdar

🎯 Proptech startup Fizbot raised funding.

The proptech startup Fizbot, which develops AI-based solutions in the field of real estate, received an investment of 500 thousand dollars from LEAP Investment, Burak Dayıoğlu and Murat Tora in the investment tour.

Transaction Type: Investment

Investment Amount: 500.000 $


Investors: LEAP Invesment, Burak Dayıoğlu, Murat Tora

Co-founders: Emre Kaya, Can Kansu, Kerem Can Kaya

🎯Waste management platform Swatchloop raised funding.

Swatchloop, the platform that realizes more efficient recycling of textile wastes and ensures sustainability in textile by increasing the traceability of these processes, received an investment with a valuation of 1.33 million dollars under the leadership of Organik Kimya.

Transaction Type: Investment

Investment Amount:

Valuation: 1.330.000 $

Investors: Organik Kimya

Co-founders: Gökberk Devrim, Güneş Sayıt, Servet Gül, Onur Leblebici

🎯 Hergele Mobility raised funding.

Hergele Mobility, which designs and manufactures new generation transportation vehicles, received an investment of 2.3 million TL from Migros Up fund.

Transaction Type: Investment

Investment Amount: 2.300.000 TL

Valuation: 2.550.000 $

Investors: Migros Up

Co-founders: Bugay Çağlar, Lal Polater

🎯 3D printing technologies startup Co Print raised funding.

3D printing technologies startup Co Print accomplished the crowdfunding tour with a target of 10 million TL for global growth. The startup completed the tour in 7 minutes and received an investment of 20.8 million TL. Co Print will be able to use up to 120% of the targeted investment according to legislation.

Transaction Type: Investment

Targeted Amount: 10.000.000 TL

Investment Request Amount: 22.799.061 TL

Investors: Fonbulucu Crowdfunding Platform ( 2742 Investor Shares, 335  Qualified Investors )

Co-founders: Fatih Kazım Duymaz, Hüseyin Özen

🎯 Maçkolik goes public on Borsa Istanbul.

Founded and managed by Istanbul Asset Management, İPY Pre-IPO Venture Capital Investment Fund received approval from the Turkish Capital Markets Board (CMB) to offer its 34% share in Maçkolik, one of the groups of digital sports media. The public offering of Maçkolik shares is the first transaction which a venture capital investment fund established under CMB regulations. It is expected to generate a revenue of 323 million TL.

Transaction Type: IPO

Other News of the Week:

📌 BukyTalk, which brings users on a social platform to practice English, went on a crowdfunding tour through fonangels.com

📌 Nanomik Biotechnology, founded by Buse Berber Örçen who won the Technological Innovative Solutions in Agriculture Competition supported by the Women in Technology Association and the Ministry of Agriculture and Forestry, received 800 thousand Euros from the investor group of Münteha Adalı, Rıza Sarıkadılar, Meltem Aydın, Yasemin Mistikoğlu and Özlem Tümer Eke.

📌 Manivela Ventures, a venture company focused on marketing support, started its activities. The company will be provide financial resources and know-how support to startups in Turkey, in terms of becoming a brand, advertising and selling.

📌 E-devlet (Turkish e-government application) started to work on the use of blockchain-based digital identity during login.

📌 The applications for the Sabancı Foundation Grant Program 2023, which aims to provide equal opportunities in society for women, young people and persons with disabilities, have begun.

📌 Halkbank announced the “Techno Entrepreneur Support Loan” to support companies operating in the fields of informatics and software, in order to maintain their employment levels and to support their development.

📌 Eksim Pulse Entrepreneurship Program applications have started. Entrepreneurs with a business idea or a project in the energy sector can participate the programme.

📌 The Stage XL event, organized by Bilgiyi Ticarileştirme Merkezi (BTM) and where entrepreneurs can meet with investors, took place with the theme of “kesişim”.

📌 The 10th term graduates of the Workup Entrepreneurship Program were announced at Workup Demo Day. Startups that have graduated under the program:

Abonesepeti: Subscription platform that helps users start, manage, end their subscriptions and more.

Hipokid: A digital marketplace that brings families in a one platform for children’s activities, institutions and people who offer these activities.

Finso: Software that digitizes consumer loans and enables end users to complete their purchases in physical stores and e-commerce.

F-Ray: A startup that develops machine learning software for financial analysis and evaluation of all public or non-public companies.

İnteraktif Kredi: Software that presents financial statements for AI-based decision support on reconfidence score.

Magnus: AI-based portfolio optimization and robo consulting platform.

Memotive: An application that digitizes and gathers touchpoints in one place for corporate companies to improve their employees’ experience, increase their motivation and loyalty.

Kaira Network: Social networking startup that allows users to interact, create content and earn token rewards while socializing without fear of censorship.


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