Weekly Startup Ecosystem Overview in Turkiye / June 24 – 30

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Last week, 4 Turkish startups received investment in the entrepreneurship ecosystem. The headquarters of the startups that received investment were distributed as Amsterdam, Newcastle and Istanbul. 3 venture capital investment fund was also established.

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

1 Artificial Intelligence

1 Renewable Energy

1 Solar Energy

1 Social Finance

News of the Week

Last week 3 Venture Capital Investment Fund (GSYF) received establishment permission.

In the Turkish Capital Markets Board (CBM) newsletter published on Friday, June 28th; It was announced that 2 portfolio company received establishment permission for 3 venture capital investment fund.

Permitted Funds:

Fiba Portföy Yönetimi AŞ Fiba Büyüme Venture Capital Investment Fund

Fiba Portföy Yönetimi AŞ Odak Girişim Venture Capital Investment Fund

Istanbul Portföy Yönetimi AŞ Vanora Venture Capital Investment Fund

🎯 Startup scouting platform Bounce Watch raised funding with €2.5 million valuation.

Startup scouting and tracking platform Bounce Watch, has raised funding with €2.5 million valuation. The investment round was joined by angel investors such as  Aylin Kosova Bilgin, Can Üzel, Deniz Güven, Dora Güçsav, Gülin Yücel and Süha Güçsav.

Transaction Type: Investment

Valuation: €2.500.000

Investors: Aylin Kosova Bilgin, Can Üzel, Deniz Güven, Dora Güçsav, Gülin Yücel, Süha Güçsav

Co-founders: Cem Ötkün, Sedat Yusuf Ergüneş

Headquarters: Amsterdam

🎯 Renewable energy smart virtual assistant Kavaken raised $1.1 million.

Kavaken, which facilitates the operation, financing and insurance processes of renewable energy investments with its data-based technology, has raised $1.1 million in Seed funding round from Vestel Ventures, RockstartNorrsken AcceleratorFounder One, 2040VC, Boğaziçi Ventures, Re-Pie, Yetik Kadri Mert, Olcayto Yiğit, Samuel Jaudel.

Transaction Type: Investment

Valuation: –

Investors: Vestel Ventures, Rockstart, Norrsken Accelerator, Founder One, 2040VC, Boğaziçi Ventures, Re-Pie, Yetik Kadri Mert, Olcayto Yiğit, Samuel Jaudel

Co-founders: Bora Tokyay, Murat Yılmaz

Headquarters: Newcastle

🎯 Solar power control solutions provider Hummingdrone raised funding with $2 million valuation.

Hummingdrone, which develops innovative aerial inspection solutions to increase the performance of solar power plants, has raised an investment in pre-Seed funding round, led by İş Bankası Yapay Zeka Fabrikası.

Transaction Type: Investment

Valuation: $2.000.000

Investors: İş Bankası Yapay Zeka Fabrikası

Co-founders: Orkun Aşa

Headquarters: Istanbul

🎯 Crypto-focused social finance application bottomUP raised funding with $3 million valuation.

Crypto-focused social finance application bottomUP, has raised funding with $3 million valuation from Can Olguner and Ozan Olguner.

Transaction Type: Investment

Valuation: $3.000.000

Investors: Can Olguner, Ozan Olguner

Co-founders: Deniz Sağlam, Said Ünlü, Erdoğan Yücel, Alex Yusifli

Headquarters: Istanbul

Other News of the Week:

📌 500 Emerging Europe has participated in Seed funding round of Daytona, which provides an open source development environment with the aim of accelerating the software development process of corporate companies.

📌 The fifth term of the Scale-Up Acceleration Program, organized by Endeavor Turkiye in cooperation with P&G, has completed with the graduation of Aposto, B2Metric, Comodif, Kidolog, Masraff, Mega Fortuna, Twiser, Uppy, Usersdot and Vigo.

📌 For the first time in Turkiye, transactions in venture capital investment funds (VCIF) and real estate investment funds (REIF) will be carried out entirely in a digital environment with Fonmap.

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