21 – 27 November Turkey Startup Ecosystem Summary

This week, 3 Turkish startups received investment in the entrepreneurship ecosystem. 2 venture capital investment funds were established. The distribution of centers of the startups receiving investment was distributed as Istanbul, Kayseri, and Bursa.

The vertical distribution of the 3 Turkish startups receiving investment is as follows:

1 Game

1 Chemistry

1 Cloud Computing

News of the Week

Geçtiğimiz hafta 2 GSYF kuruluş izni aldı.

Geçtiğimiz hafta SPK tarafından yayınlanan bültende 2 portföy şirketinin 2 girişim sermayesi yatırım fonu için kuruluş izni aldığı haberi paylaşıldı. Bu fon ile doğrudan Türkiye girişimcilik ekosistemine yatırım yapılıp yapılmayacağı ise henüz net değil.

İzin alan fonlar:

Azimut Portföy Yönetimi A.Ş. LCP Birinci Girişim Sermayesi Yatırım Fonu

Omurga Gayrimenkul ve Girişim Sermayesi Portföy Yönetimi A.Ş. Geometri Melek Girişim Sermayesi Yatırım Fonu

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 2 portfolio companies received establishment permission for 2 venture capital investment funds was shared.  It still needs to be determined whether this fund will directly invest in the Turkish entrepreneurship ecosystem.

Azimut Portfolio Management LCP First Venture Capital Investment Fund

Omurga Real Estate and Private Equity Portfolio Management A.Ş. Geometry Melek Venture Capital Investment Fund

🎯 Mobile game startup Ace Games raised funding.

Ace Games, the startup that develops mobile games, received an investment of 25.000.000 $ under the leadership of Israel-based game company Playtika.

Transaction Type: Investment

Investment Amount: $ 25.000.000 

Investors:  Playtika 

Co-founders:  Hakan Baş, Emre Ovacık

🎯 Game studio startup Plummy Games has raised funding.

Tallinn-based gaming startup Plummy Games, which develops casual games, received an investment of 6.000.000 $ under the leadership of X-Flow Games.

Transaction Type: Investment

Investment Amount: $ 6.000.000

Investors: X-Flow Games 

Co-founders: Can Sahin, Olga Zamisnaia, Adnan Kobazoğlu

🎯 Bonjuur, the startup that provides cleaning services, raised funding.

New York-based cleaning service startup Bonjuur has received a $25.000 investment from Jason Calacanis.

Transaction Type: Investment

Investment Amount: $ 25.000

Investors:  Jason Calacanis

Co-founders: Ömer Beşe

🎯 Rainbow Polikarbonat, the company working on polycarbonate technology,  raised funding.

Rainbow Policarbonat, the company that provides production and manufacturing on polycarbonate and polypropylene technology, received an investment of 43 million TL from Hedef Girişim under the roof of Hedef Holding.

Transaction Type: Investment

Investment Amount: 43.125.000 TL

Investors:   Hedef Girişim

Co-founders: Fatih Mehmet Akbeyaz, Akgül Akbeyaz

🎯 Cloud computing company cross4cloud has raised funding.

Cross4cloud, the cloud management platform that enables the management and optimization of different cloud provider services on a single platform, received an investment of 300.000 $ over a 6.000.000 $ valuation.

Transaction Type: Investment

Investment Amount: $ 300.000 

Valuation: $ 6.000.000

Investors:  Angel Investor

Co-founders: Ercan Yeşil, Sabri Murat Binay, Öz Sarkut

 ✏️A Slice of Entrepreneurship 🍰

“If you are not embarrassed by the first version of your product, you’ve launched too late.” 

  • Reid Hoffman, Co-founder of LinkedIn

Other News:

📌 Entrepreneurs and investors from the Turkish entrepreneurship ecosystem came together at the Turkcell Corporate & Ventures Day event. Current trends, private sector partnerships, and the place of capital investment funds in the ecosystem were discussed.

📌 The winners of the Turkey section of the Entrepreneurship World Cup, organized in partnership with the Global Entrepreneurship Network (GEN) and Monsha’at, have been announced. Ollang, an online translation service, was selected as the winner. Scoundrel Mobility, which offers solutions in the field of e-mobility, won second place.

📌 As the Incubation Center of ITU ARI Teknokent, 71 startups in 5 categories were selected to participate in the Big Bang Startup Challenge 2022, organized by ITU Çekirdek.

📌 Applications for TİM – Smart Cities Startup Program, which focuses on SMEs and international initiatives that offer innovative solutions in the field of smart cities, of which TİM and Italian municipalities are partners, have started.

📌 Ankara Start-Up Summit, which will be organized by Bilkent Young Entrepreneurs Club, will take place on December 10 at the Ankara Chamber of Commerce.

📌 Start-Up Day 2022 event, which brought together the world of business and entrepreneurship in partnership with IBE Business Institute and BAU Hub, took place at Istanbul Congress Center.

📌 Türkiye İş Bankası opened the İzmir Entrepreneurship Branch at the İzQ Entrepreneurship Center, which targets technology-based new-generation startups, investment funds, angel investors, and other stakeholders of the ecosystem.

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