Weekly Startup Ecosystem Overview in Turkiye / July 1 – 7

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Last week, 2 Turkish startups received investment in the entrepreneurship ecosystem. The headquarters of the startups that received investment were distributed as London. 5 venture capital investment fund was established. A Türkiye-based VC also invested in an Italy-based startup.

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

1 Mental Health & Wellness

1 Analytics & E-Commerce

1 Artificial Intelligence & Data Analytics

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, July 4th; It was announced that 4 portfolio company received establishment permission for 5 venture capital investment fund.

Permitted Funds:

BV Portföy Yönetimi AŞ Digital Leap Venture Capital Investment Fund

Deniz Portföy Yönetimi AŞ AL Venture Capital Investment Fund

İstanbul Portföy Yönetimi AŞ Karma Teknoloji Venture Capital Investment Fund

İstanbul Portföy Yönetimi AŞ MyProject Venture Capital Investment Fund

Ünlü Portföy Yönetimi AŞ 212 Venture Capital Investment Fund

🎯 Online therapy platform Hiwell raised $3.5 million.

Online therapy platform Hiwell, has raised $3.5 million with $28.5 million valuation in pre-Series A funding round. The investment round was joined by Boğaziçi Ventures, Eksim Ventures, Ünlü Portföy Ar-Ge GSYF, Kinesis Teknoloji Yatırımları, Dr. Hüseyin Başçiftçi and other angel investors.

Transaction Type: Investment

Valuation: $28.500.000

Investors: Boğaziçi Ventures, Eksim Ventures, Ünlü Portföy Ar-Ge GSYF, Kinesis Teknoloji Yatırımları, Dr. Hüseyin Başçiftçi, other angel investors

Co-founders: Ali Ozan Özçiçek

Headquarters: London / Istanbul

🎯 E-commerce analytics solutions provider Mindsite raised $1.5 million.

Mindsite, a B2B SaaS company providing services in the field of e-commerce analytics, has raised $1.5 million. The investment round was led by Finberg, with participation from Teknoloji Yatırım, Gelecek Etki GSYF, Utku Öz and Ömer Hayrı Erkmen.

Transaction Type: Investment

Valuation: $15.000.000

Investors: Finberg, Teknoloji Yatırım, Gelecek Etki GSYF, Utku Öz, Ömer Hayrı Erkmen

Co-founders: İsmail Arapzade, Ali Göksu Özkan, Hakan Utku Özdemir

Headquarters: London

🎯 Data analytics platform SmartFAB raised funding with $4 million valuation.

AI-based industrial data analytics platform SmartFAB, has raised funding with $4 million valuation from Galata Business Angels.

Transaction Type: Investment

Valuation: $4.000.000

Investors: Galata Business Angels

Co-founders: Ann LoCicero

Headquarters: Milan

Other News of the Week:

📌 Jidoka, which produces new generation industrial maintenance and service robots aiming to increase efficiency and reduce costs by automating maintenance processes in industrial facilities, has raised 6.5 million TL in crowdfunding tour through Fonangels.

📌 Financial technology startup Colendi has included in the Endeavor Outliers program.

📌 Micromobility startup BinBin has started to provide services in Albania.

📌 The 10 startups accepted to the Smart Cities Acceleration Program, which will be organized by Başakşehir Living Lab Incubation Center and in4startups, have been announced. Startups selected for the program: Patile, Glorvia, Happcons, Guiss.ai, Başkana, Volthread & WLSDM, Educall, YeşilBağ and BlueOperation.

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