20 – 26 March Turkey Startup Ecosystem Summary

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Last week, 8 Turkish startups received investment in the entrepreneurship ecosystem. The headquarters of the startups that received investment were distributed as Istanbul, Ankara, Delaware and Düsseldorf. 3 venture capital investment fund was also established.

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

1 Numerology

1 Gaming

1 E-commerce

1 Logistics

1 Risk and Private Equity

1 Greentech

1 Media

1 SaaS

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 Tuesday, Marh 21st; It was announced that 3 portfolio company received establishment permission for 3 venture capital investment fund.

Permitted Funds:

Arz Gayrimenkul ve Girişim Sermayesi Portföy Yönetimi AŞ Eighth Venture Capital Investment Fund

Gri Portföy Yönetimi AŞ Woodland Gastronomy Venture Capital Investment Fund

Rota Portföy Yönetimi AŞ Nova Venture Capital Investment Fund

🎯 Personal roadmap platform Saybeni raised funding.

Saybeni, a startup that offers its users a roadmap about their lives using numerology, received an investment with a valuation of $7 million from Keiretsu Forum Türkiye angel investors.

Transaction Type: Investment

Investment Amount:

Valuation: $7.000.000

Investors: Keiretsu Forum Türkiye angel investors

Co-founders: Mehmet Sıddık Yılmaz

🎯 Mobile gaming startup Passion Punch raised funding.

Mobile game developer Passion Punch, has raised $4 million in Seed funding round led by Colendi. Turkcell Yeni Teknolojiler GSYF, Re-Pie Portföy and angel investors also participated in the investment round.

Transaction Type: Investment

Investment Amount: $4.000.000

Valuation:

Investors: Colendi, Turkcell Yeni Teknolojiler GSYF, Re-Pie Portföy, angel investors

Co-founders: Vugar Hasani, Burak Ökmen

🎯 E-commerce system Netkasam raised funding.

Netkasam, a startup that develops end-to-end e-commerce solutions to support the digital transformation of SMEs, has raised $3.2 million from IQ Money.

Transaction Type: Investment

Investment Amount: $3.200.000

Valuation:

Investors: IQ Money

Co-founders: Fatih Duygu

🎯 Digital logistics platform Hubtic raised funding.

Hubtic, which develops international digital transportation solutions, has raised $1.3 million in Seed funding round from family office of the founders of Kloepfel Consulting, Bilişim Vadisi GSYF, APY Ventures and angel investors.

Transaction Type: Investment

Investment Amount: $1.300.000

Valuation:

Investors: Family office of the founders of Kloepfel Consulting, Bilişim Vadisi GSYF, APY Ventures, angel investors

Co-founders: Abdullah Cansu

🎯 Venture studio Vanora Ventures raised funding.

Vanora Ventures, which invests in startups, has received its first investment with a valuation of $10 million from TechOne VC.

Transaction Type: Investment

Investment Amount:

Valuation: $10.000.000

Investors: TechOne VC

Co-founders: Abdurrahman Beşinci, Can Üzüm 

🎯 Sustainable living spaces provider The Hab Project raised funding.

The Hab Project, a startup that offers sustainable and regenerative living spaces with its wooden construction system, has raised 2.5 million TL from Founder One.

Transaction Type: Investment

Investment Amount: 2.500.000 TL

Valuation:

Investors: Founder One

Co-founders: Süha Afacan, Berkay Şeşen

🎯 Subtitling and dubbing platform Ollang raised funding.

Ollang, which provides subtitle translations and dubbing services to world languages for audiovisual media, including films, series and documentaries, has raised $1.5 million from Revo Capital, JIMCO, twozero Ventures, Join Venture, Koray Bahar, angel investors from Arya Melek Yatırım and Orkun Işıtmak.

Transaction Type: Investment

Investment Amount: $1.500.000

Valuation:

Investors: Revo Capital, JIMCO, twozero Ventures, Join Venture, Koray Bahar, Orkun Işıtmak, angel investors

Co-founders: Ebru Yıldırım

🎯 Order and payment platform FineDine raised funding.

FineDine, which provides artificial intelligence-focused payment and order taking infrastructure for restaurants, cafes and hotels, has completed its bridge investment tour of $500.000. TechOne VC, twozero Ventures, hiVC and Lovrenc Kessler participated in the investment round.

Transaction Type: Investment

Investment Amount: $500.000

Valuation:

Investors: TechOne VC, twozero Ventures, hiVC, Lovrenc Kessler

Co-founders: Duygu Kutluoğlu Kılıç, Adil Burak Kılıç

Other News of the Week:

📌 Param, Turkey’s first licensed electronic money institution, has established a company in the Netherlands as part of globalization, following Param UK operating in United Kingdom.

📌 The applications for the fourth term of the Entrepreneurship Program PharmUp, organized by Sanofi and Endeavor Turkey, to support the development of innovative ideas that will create added value in the healthcare industry, have started.

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