27 March – 2 April Turkey Startup Ecosystem Summary

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Last week, 9 Turkish startups received investment in the entrepreneurship ecosystem and 2 startup purchase has been made. The headquarters of the startups that received investment were distributed as Istanbul, Tallinn, London and Wilmington. 1 venture capital investment fund was also established.

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

2 Education Technologies

2 Marketplace

1 Agricultural Technologies

1 Digital Marketing

1 Software

1 Gaming

1 Health

News of the Week

Last week, 1 Venture Capital Investment Fund (GSYF) received establishment permission.

In the Turkish Capital Markets Board (CBM) bulletin published on Thursday, Marh 30; It was announced that 1 portfolio company received establishment permission for 1 venture capital investment fund.

Permitted Funds:

Yapı Kredi Portföy Yönetimi AŞ Frwrd Venture Capital Investment Fund

🎯 Education platform Voltran App raised funding.

Voltran App, a platform that brings college, science and Anatolian high school teachers and their different types of content in one place to share with other stundents, received an investment with a valuation of $3.35 million from Rıza Kaya and Burak Ersan.

Transaction Type: Investment

Investment Amount:

Valuation: $3.350.000

Investors: Rıza Kaya, Burak Esan

Co-founders: Buket Öğütler, Hamed Hamedi, Anıl Kıncıoğlu, Berk Kıncıoğlu

🎯 English learning platform WEXT raised funding.

WEXT, a startup that develops technologies for users to improve their English language skills, received its first investment with a valuation of $2 million from Founder One.

Transaction Type: Investment

Investment Amount:

Valuation: $2.000.000

Investors: Founder One

Co-founders: İrade Uzunyolcu, Ali Uzunyolcu

🎯 Marketplace application BİSU raised funding.

BISU, which digitizes water orders, received an investment with a valuation of $100 million from Integral Venture Capital Portfolio Management A.Ş. BISU Venture Capital Investment Fund.

Transaction Type: Investment

Investment Amount:

Valuation: $100.000.000

Investors: Investors over Venture Capital Investment Fund

Co-founders: Ergin Üner

🎯 New generation marketplace application Lonca raised funding.

Fintech-enabled wholesale fashion trading platform Lonca, received an investment of $1.7 million in Seed funding round led by 500 Emerging Europe. OEL Ventures, The 22 Fund, SaxeCap, Gorillas founders Kağan Sümer, Şükrü Dağdelen, Uğur Samut and Akın Kısakürek also participated in the investment round.

Transaction Type: Investment

Investment Amount: $1.700.000

Valuation:

Investors: OEL Ventures, The 22 Fund, SaxeCap, Gorillas kurucuları Kağan Sümer, Şükrü Dağdelen, Uğur Samut, Akın Kısakürek

Co-founders:

🎯 Smart farming startup FreshSens raised funding.

FreshSens, which develops technologies that extend the storage life of products such as fruits, vegetables, mushrooms and cut flowers by using artificial intelligence and internet of things technologies, has raised 1.7 million TL from Startup Wise Guys.

Transaction Type: Investment

Investment Amount: 1.700.000 TL

Valuation:

Investors: Startup Wise Guys

Co-founders: Baran Baykut Emiroğlu, Vehbi Çağrı Güngör, Cem Ayyıldız

🎯 Digital marketing software WASK raised funding.

WASK, a platform that optimizes digital marketing processes, has raised $2.4 million. The investment round was led by Eksim Ventures and also attented by TechOne VC, Logo Ventures, APY Ventures, Türkiye Teknoloji ve İnovasyon Fonu ve Teknoloji Yatırım (TTGV).

Transaction Type: Investment

Investment Amount: $2.400.000

Valuation:

Investors: Eksim Ventures, TechOne VC, Logo Ventures, APY Ventures, Türkiye Teknoloji ve İnovasyon Fonu, Teknoloji Yatırım

Co-founders: Ercan Pilcioğlu

🎯 Sales automation application Flowla raised funding.

Flowla, which combines B2B sales processes in a single link, has raised $1.3 million from Antler, Fuel Ventures, ScaleX Ventures and Logo Ventures.

Transaction Type: Investment

Investment Amount: $1.300.000

Valuation:

Investors: Antler, Fuel Ventures, ScaleX Ventures, Logo Ventures

Co-founders: Erdem Gelal, Alper Yurder, Oğuz Gelal

🎯 Mobile gaming startup Gulliver’s Games raised funding.

Gulliver’s Games, which develops mobile games, has raised $1.5 million from Boğaziçi Ventures and March Capital.

Transaction Type: Investment

Investment Amount: $1.500.000

Valuation:

Investors: Boğaziçi Ventures, March Capital

Co-founders: Doğan Akdağ

🎯 Health startup For Physician raised funding.

For Physician, instant case consultation application for general practitioners, received an investment with a valuation of 7.52 million TL. The investment round was attented by Geometry Venture Development, Alesta Yatırım and Mehmet Yüksel Yazıcı.

Transaction Type: Investment

Investment Amount:

Valuation: 7.520.000 TL

Investors: Geometry Venture Development, Alesta Yatırım, Mehmet Yüksel Yazıcı

Co-founders: Yusuf Bayram Tuğlu, Kübra Kablan Tuğlu

🛒 Missafir acquires Croatia-based Golden Leaf.

Short/medium term home rental management platform Missafir has acquired Golden Leaf, which provides complete solution for small hotel owners and property investors.

Transaction Type: Acquisition

Investors: Missafir

Co-founders:

🛒 Mobilet acquires ticketing startup Biletiva.

Online ticketing platform Mobilet has acquired Biletiva, a ticketing startup for the cinema industry, founded in 2013.

Transaction Type: Acquisition

Investors: Mobilet

Co-founders:

Other News of the Week:

📌 Eyes of Solar, a solar energy-based smart security system, went on a crowdfunding tour with a target of 1.5 million TL through fonbulucu.

📌 Social language learning platform BukyTalk has completed its crowdfunding round on fonangels.com, with an investment of 2.25 million TL over a 21 million TL valuation.

📌 Tamamliyo, which offers end-to-end integrated solutions in the field of insurance technologies, has completed its crowdfunding tour through Fongogo, with an investment of 2.4 million TL.

📌 Q Investment Bank, which aims to be best business partner of domestic and foreign investors, starts its operations with Fimple’s cloud-based SaaS banking platform.

📌 WePlay Ventures, Turkey’s most active gaming industry-focused investment fund, is opening up to the European and Central Asian markets.

📌 TÜBİTAK has announced the first information about 2023-1 BiGG, which it provides support by investing in startups. With the investment-based support program, the shares of the startups will be purchased.

📌 The applications for the Dönüşümü Başlat! İş Fikri Yarışması, which is one of the entrepreneurship programs of TÜSİAD Bu Gençlikte İŞ Var!, organized by TÜSİAD, continues. All young people between the ages of 18-30 will be able to apply to the program in teams of 2 to 5 people.

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