Weekly Startup Ecosystem Overview in Turkiye / April 15 – 21

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Last week, 7 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, Izmir and San Francisco. 1 venture capital investment fund was also established.

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

2 Financial Technologies

1 Social Media & Artificial Intelligence

1 Mobile Gaming

1 Human Resources

1 Nano Technology

1 Artificial Intelligence

News of the Week

🟥 StartupCentrum 2024 First Quarter Turkish Startup Ecosystem Funding Report is now available!

The analysis of the first quarter of 2024 provided valuable insights into how Türkiye’s entrepreneurial dynamics have evolved through various stages of investment in the ecosystem. Developments across seed-stage investments, early, and later stages showcased the health of the ecosystem and investor confidence.

In the first quarter of 2024, a total of $133 million was invested in startups through 72 funding rounds. The sector of Artificial Intelligence, Machine Learning, and Data retained its leading position in terms of both investment amount and the number of investments.

To view the details of the report 👉🏻 startupcentrum.com/reports

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

In the Turkish Capital Markets Board (CBM) newsletter published on Thursday, April 19th; It was announced that 1 portfolio company received establishment permission for 1 venture capital investment fund.

Permitted Funds:

Tacirler Portföy Yönetimi AŞ Özel Sermaye 1 Venture Capital Investment Fund

🎯 Financial technology startup Midas raised $45 million.

Midas, an investment platform that brings together the US and BIST stock exchanges in one place, has raised $45 million in Series A funding round, led by Portage Ventures. International Finance Corporation, Spark Capital, Earlybird Digital East Fund and Revo Capital also participated in the investment round.

Transaction Type: Investment

Valuation: –

Investors: Portage Ventures, International Finance Corporation, Spark Capital, Earlybird Digital East Fund, Revo Capital

Co-founders: Umut Bozkurt, Egem Eraslan

Headquarters: Istanbul

🎯 Service banking solitons developer Fingate.io raised $1.2 million.

Fingate.io, a service banking and open banking platform, has raised $1.2 million from Koç GSYF.

Transaction Type: Investment

Valuation: –

Investors: Koç GSYF

Co-founders: Alper Akcan, Emre Hayretçi, Tolga Ulutaş

Headquarters: Istanbul

🎯 Content creation platform Postuby raised funding with $900.000 valuation.

Postuby, an artificial intelligence-supported content creation platform focusing on small businesses and startups, has raised funding with $900.000 valuation from Alesta Yatırım, Erkin Fındık, Birol Özkan.

Transaction Type: Investment

Valuation: $900.000

Investors: Alesta Yatırım, Erkin Fındık, Birol Özkan

Co-founders: Şafak Tozar, Kadir Karademir

Headquarters: Istanbul

🎯 Mobile gaming studio Mage Games raised $3.5 million.

Mage Games, a game developer that operates in the field of mobile games, has raised $3.5 million. The investment round was led by Actera, with participation from Ludus Ventures.

Transaction Type: Investment

Valuation: –

Investors: Actera, Ludus Ventures

Co-founders: Murat Baysal

Headquarters: Izmir

🎯 Digital human resources solutions provider Teamso raised funding with $1 million valuation.

Teamso, which enables companies to manage their human resources processes more efficiently and easily, has raised funding with $1 million valuation from SLPLUS Holding.

Transaction Type: Investment

Valuation: $1.000.000

Investors: SLPLUS Holding

Co-founders: Emin Budak, Gökhan Çokkeçeci

Headquarters: Istanbul

🎯 Nano coating technology developer Materix raised funding.

Materix, which produces sustainable nano coatings, has raised funding from Founder One.

Transaction Type: Investment

Valuation: –

Investors: Founder One

Co-founders: Tevfik Altın

Headquarters: Izmir

🎯 Virtual trial technology provider PulpoAR raised $100.000.

PulpoAR, which develops virtual try-on technology for the retail and e-commerce market using artificial intelligence and augmented reality technologies, has raised $100.000 from StartersHub.

Transaction Type: Investment

Valuation: –

Investors: StartersHub

Co-founders: Rayan Godoi

Headquarters: San Francisco

🛒 Şok acquires istegelsin for 220 million TL.

Affordable grocery chain Şok has acquired online grocery delivery startup istegelsin for 220 million TL.

Transaction Type: Acquisition

Investors: Şok

Co-founders: Sedat Yıldırım

Headquarters: Istanbul

🟥 StartupCentrum

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For more information startupcentrum.com

To take part in the StartupCentrum Entrepreneurship Ecosystem Summary of Turkey, MENA or Europe series and to be our supporter: [email protected]

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