8 – 14 May Turkey Startup Ecosystem Summary

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Last week, 5 Turkish startups received investment in the entrepreneurship ecosystem and 1 secondary transaction has been made. The headquarters of the startups that received investment were distributed as Istanbul, Kocaeli, Ankara and California. 3 venture capital investment fund was also established.

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

1 Financial Technology

1 Autonomous Vehicles / Delivery

1 Real Estate / Cloud Systems

1 Automotive

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, May 11th; It was announced that 2 portfolio company received establishment permission for 3 venture capital investment fund.

Permitted Funds:

Gri Portföy Yönetimi AŞ Nar Venture Capital Investment Fund

Global MD Portföy Yönetimi AŞ First Venture Capital Investment Fund

Global MD Portföy Yönetimi AŞ Health Tech Health Technologies Venture Capital Investment Fund

🎯 Financial technology startup Finekra raised funding.

Open banking startup Finekra, received an investment with a valuation of $5 million, led by Girişim Sermayesi. Eksim Ventures, existing investors Mindvest GSYF, Sertaç Özinal and Alesta Yatırım also participated in the investment round.

Transaction Type: Investment

Investment Amount: –

Valuation: $5.000.000

Investors: Girişim Sermayesi, Eksim Venturesi Minsvest GSYF, Sertaç Özinal, Alesta Yatırım

Co-founders: Anıl Karayurt, Erhan Zengin

🎯 Autonomous robot developer Saha Robotik raised funding.

Saha Robotik, a startup that develops autonomous service, service and delivery robots, has raised $3 million from APY Ventures, Yavuz Altun, Driventure, CVentures, Nupa and SPV’s that established by 2 foreign angel investors in Turkey.

Transaction Type: Investment

Investment Amount: $3.000.000

Valuation: –

Investors: APY Ventures, Yavuz Altun, Driventure, CVentures, Nupa, other SPV’s

Co-founders: Murat Ayrancı, Emre Çekiç, Orhan Gazi Hafif

🎯 Digital real estate marketing platform RE-OS raised funding.

The technological infrastructure RE-OS, where professionals operating in real estate sector can perform business management and real estate marketing on a single platform, received an investment with a valuation of $5 million. The investment round was joined by Grifon Capital.

Transaction Type: Investment

Investment Amount: –

Valuation: $5.000.000

Investors: Grifon Capital

Co-founders: Hüseyin Öztürk

🎯 Smart camera system developer Büyütech raised funding.

Büyüktech, which develops automotive-oriented smart camera systems, has raised $600.000 from Bilişim Vadisi and OSTİM‘s Venture Capital Investment Funds.

Transaction Type: Investment

Investment Amount: $600.000

Valuation: –

Investors: Bilişim Vadisi, OSTİM

Co-founders: Ömer Orkun Düztaş, Alparslan Işıklı

🎯 No-code application platform Hipporello raised funding.

Hipporello, a no-code integration and plugin developer for Trello, received a seed investment of $1.8 million from ScaleX, Atlassian Ventures, Türkiye Teknoloji Geliştirme Vakfı and Değerhan Usluel.

Transaction Type: Investment

Investment Amount: $1.800.000

Valuation: –

Investors: ScaleX, Atlassian Ventures, TTGV1 Ortak Yatırım Fonu, Değerhan Usluel

Co-founders: Mustafa Şener

🛒 BHL Holdings UK acquired the majority stakes in Hesapkurdu and Koalay.

BHL Holdings UK (BHL) has acquired the majority stakes in Hesapkurdu and Koalay, which provide brokerage services in retail banking and insurance products, for a total value of approximately $65 million.

Transaction Type: Acquisition

Investors: BHL Holdings UK

Co-founders: Ömer Paksoy, Onur Tekin Turhan

Other News of the Week:

📌 Teknopark Istanbul won 11 awards at ISIF’23 Istanbul International Invention Fair, held as part of TEKNOFEST 2023.

📌 Turkey-based early stage technology investment fund StartersHub aims to invest in 10 companies in 2023.

📌 The applications for TOBB Gaziantep Young Entrepreneurs Board “New Dreams Entrepreneurial Ideas” project, continue.


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