Weekly Startup Ecosystem Overview in Turkiye / December 25 – 31

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Last week, 11 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 Izmir, Tallinn, United Kingdom, Istanbul, United States, Adana, Ankara, Bursa and Kocaeli. 5 venture capital investment fund was also established.

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

5 Financial Technologies

3 Artificial Intelligence

2 Gaming

1 Human Resources

News of the Week

Last week, 5 Venture Capital Investment Fund (GSYF) received establishment permission.

In the Turkish Capital Markets Board (CBM) newsletter published on Thursday, December 28th; It was announced that 4 portfolio company received establishment permission for 5 venture capital investment fund.

Permitted Funds:

Ak Portföy Yönetimi AŞ Fourth Venture Capital Investment Fund

Ak Portföy Yönetimi AŞ J-START Special Venture Capital Investment Fund

Atlas Portföy Yönetimi AŞ First Venture Capital Investment Fund

Nurol Portföy Yönetimi AŞ Titra Technology Venture Capital Investment Fund

Rota Portföy Yönetimi AŞ Regnum Venture Capital Investment Fund

🎯 Financial technology startup Money Industires raised funding with $1.5 million valuation.

Money Industries, which offers global payment infrastructure, has raised funding with $1.5 million valuation. The investment round was led by Caucasus Ventures, with participation from Hasan Jabbarov and Sabrican Zaim.

Transaction Type: Investment

Valuation: $1.500.000

Investors: Caucasus Ventures, Hasan Jabbarov, Sabrican Zaim

Co-founders: Kutay Yalınkılınç

Headquarters: Tallinn

🎯 Cloud-based banking solution Fimple raised $3.5 million.

Fimple, which provides cloud-based reconfigurable core banking services for financial companies, has raised $3.5 million in bridge investment round, led by APY Ventures. KT Portföy, Tera Portföy and angel investors also participated in the investment round.

Transaction Type: Investment

Valuation: –

Investors: APY Ventures, KT Portföy, Tera Portföy, angel investors

Co-founders: Abdurrahman Çınar, Mücahit Gündebahar

Headquarters: United Kingdom

🎯 Online payment system Ödüyo raised funding with 145 million TL valuation.

Payment receiving system Ödüyo, has raised funding with 145 million TL valuation from Global Trust Ventures.

Transaction Type: Investment

Valuation: 145.000.000 TL

Investors: Global Trust Ventures


Headquarters: Istanbul

🎯 Digital financial marketplace TeklifimGelsin raised funding with $14 million valuation.

TeklifimGelsin, which offers a single platform for banks and finance companies, has raised in pre-Series A funding round with $14 million valuation from İdeal Finansal.

Transaction Type: Investment

Valuation: $14.000.000

Investors: İdeal Finansal

Co-founders: İhsan Cem Zararsız, Ertuğrul Hakan Biri

Headquarters: Ankara

🎯 Financial markets product developer Ziv4 Technology raised funding with €1 million valuation.

Artificial intelligence and algorithm-focused financial technology startup Ziv4 Technology, has raised €60.000 in pre-Seed funding round with €1 million valuation. The investment round was led by Tamer Capital CEO Kemal Tamer, with participation from EGİAD Angels Investment Network Coordinator Melisa İtmeç, Global Cryptocurrency Exchange Manager Celil Öztürk and Plato Capital CEO Tamerlan Bayramlı.

Transaction Type: Investment

Valuation: €1.000.000

Investors: Kemal Tamer, Melisa İtmeç, Celil Öztürk, Tamerlan Bayramlı

Co-founders: Ahmet Yasin Acar, Ömer Faruk Yıldırım, Hüseyin Kaan Küçük

Headquarters: Tallinn

🎯 AI-based SaaS startup Lumian Energy raised funding with $3.2 million valuation.

Lumian, which develops artificial intelligence-based SaaS solutions in the field of energy efficiency and management, has received an investment in pre-Seed funding round with $3.2 million valuation. The investment round was joined by DOMiNO Ventures and İsmail Ferhat Özlü.

Transaction Type: Investment

Valuation: $3.200.000

Investors: DOMiNO Ventures, İsmail Ferhat Özlü

Co-founders: Batu Balkır, Emre Birol

Headquarters: United States

🎯 Artificial intelligence startup V-Risetech raised 600.000 TL.

V-Risetech, a 3D hyper-realistic artificial intelligence video creation platform, has raised 600.000 TL from ENA Venture Capital.

Transaction Type: Investment

Valuation: –

Investors: ENA Venture Capital


Headquarters: Adana

🎯 AI-supported solutions provider UnitPlan raised funding.

UnitPlan, which offers artificial intelligence-supported solutions for entrepreneurs, venture capital investors and incubation centers, has raised funding from Arz Portföy Bilişim Vadisi 4th Venture Capital Investment Fund.

Transaction Type: Investment

Valuation: –

Investors: Arz Portföy Bilişim Vadisi 4th Venture Capital Investment Fund.

Co-founders: Engin Alemdar

Headquarters: Bursa

🎯 Gaming studio Toon Metal Games raised $250.000.

Toon Metal Games, which develops games in the Casual and Hybrid Casual game genres, has raised $250.000 from Boğaziçi Ventures with $2.5 million valuation.

Transaction Type: Investment

Valuation: $2.500.000

Investors: Boğaziçi Ventures

Co-founders: Gökçe Kaya, Önder Yüceur, Deniz Ensari

Headquarters: Izmir

🎯 Digital game and animation center DIGIAGE raised $500.000.

DIGIAGE, which offers collective activities and camps for all entrepreneurs with ideas in the game and animation categories, has raised $500.000 from APY Ventures Bilişim Vadisi GSYF.

Transaction Type: Investment

Valuation: –

Investors: APY Ventures Bilişim Vadisi GSYF


Headquarters: Kocaeli

🎯 Employee engagement platform Buddy Performance raised funding.

Buddy Performance, which focuses on employee engagement and company performance, has raised funding from Boğaziçi Ventures.

Transaction Type: Investment

Valuation: –

Investors: Boğaziçi Ventures

Co-founders: Onur İlköz

Headquarters: Istanbul

🛒 Papara acquires esports club SuperMassive.

Papara has acquires the esports club SuperMassive, which it has been sponsoring since 2020, in an agreement whose financial details were not shared.

Transaction Type: Acquisition

Investors: Papara


Headquarters: Istanbul

Other News of the Week:

📌 Royal Match, a puzzle application developed by Istanbul-based game studio Dream Games, has surpassed Candy Crush Saga and become the most profitable mobile game in the world.

📌 The first term of Workup4Future, which was implemented with the main support of İş Bankası, in partnership with the Turkish Entrepreneurship Foundation and with the acceleration of Hackquarters, starts with 7 startups. Startups selected within the scope of the program: Binamod, From Your Eyes, Some Carbon, Swatchloop, VerdantWave, Waste Log and Workybe.

📌 The first term startups of Workup Gaming, which was launched by Türkiye İş Bankası last June, has graduated with the Demo Day event. Startups graduating within the scope of the program: Kidlab, Compactive, Hyperactive, Yuyuto, Funrika, Tunga Games, Pangea VR, Funly, OYEDU and Gamester.

📌 At the Cubesat Vision International Near-Earth CubeSat and Small Satellite Conference held on December 14-15, technology companies came together and signed the agreements to establish the Satellite Technologies Venture Group for the advancement of space activities in Turkiye.

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