6 – 12 March Turkey Startup Ecosystem Summary

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Last week, 4 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, Izmır and Delaware. 3 venture capital investment fund was also established.

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

1 Decentralized Finance (DeFi)

1 Financial Technologies

1 Cyber Security

1 Software

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, Marh 9; It was announced that 3 portfolio company received establishment permission for 3 venture capital investment fund.

Permitted Funds:

İstanbul Portföy Yönetimi AŞ Mediterra 3 Venture Capital Investment Fund

Maqasid Gayrimenkul ve Girişim Sermayesi Portföy Yönetimi AŞ Fonprime Gelecek Venture Capital Investment Fund

Re-Pie Portföy Yönetimi AŞ Webrazzi Web3 Venture Capital Investment Fund

🎯 Decentralized finance startup Defy raised funding.

Defy, a startup that provides end-to-end infrastructure and security services to companies for their Web3 needs, has raised funding from Alesta Yatırım.

Transaction Type: Investment

Investment Amount:


Investors: Alesta Yatırım

Co-founders: Suat Ozkan, Hasret Özkan

🎯 Digital wallet app Puan Harca raised funding.

Puan Harca, a platform that offers consumers to track and spend their accumulated points on different debit cards through a single application, received an investment with a valuation of $1 million from iWallet.

Transaction Type: Investment

Investment Amount:

Valuation: $1.000.000

Investors: iWallet

Co-founders: Ertuğrul Güler, Soner Kavlak

🎯 Cyber security startup SOCRadar raised funding.

Cyber threat early warning system SOCRadar, received an investment in Series A funding round from 212.

Transaction Type: Investment

Investment Amount:


Investors: 212

Co-founders: Huzeyfe Önal, Ahmet Kuruköse

🎯 Customer experience platform Cloud4Feed raised funding.

Artificial intelligence-based customer and employee experience platform Cloud4Feed has completed its first investment round. The investment round was attended by APY Ventures and hiVC.

Transaction Type: Investment

Investment Amount:


Investors: APY Ventures, hiVC

Co-founders: Cef Tovil 

🛒 Education platform eduMe acquires Playbook.

UK-based education platform eduMe has acquired Playbook, a learning platform that develops the TikTok for Learning format.

Transaction Type: Acquisition

Investors: eduMe

Co-founders: Can Özinci

🛒 BtcTurk acquires the customer support platform Infoset.

Turkey’s crypto money company BtcTurk has acquired the platform Infoseti, which offers companies to manage their support and sales channels from a single place.

Transaction Type: Acquisition

Investors: BtcTurk

Co-founders: Samed Düzçay, Sercan Düzçay, Benoit L’Huissier 

Other News of the Week:

📌 MilkApp, a startup that aims to make sustainable milk by monitoring the quality of milk and dairy products obtained in the geography of Turkey from end to end, went on a crowdfunding round with a target of 1.6 million TL through fonbulucu.

📌 Newky, which makes biometric-based multi-factor verification, has signed a strategic cooperation agreement with Lojipark to produce security solutions for the logistics industry.

📌 Mastercard has launched the Fintech Express program to support fintechs who want to add card payments to their products.

📌 10 deep technology startups that will take the stage at the Cube Demoday’23 event have been announced. The startups to take part in the event; Arvis, Bugbounter, Corne.ai, Co Print, Diattack, Jetlink, Medroco, Techbros, Unicode and MDnutriacademy.

📌 The 6th Boğaziçi Business Challenge Applications, which were held this year, have started. Vodafone will be this year’s simulation supporter of the event.


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