Weekly Startup Ecosystem Overview in Turkiye / March 4 – 10

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Last week, 6 Turkish startups received investment in the entrepreneurship ecosystem. The headquarters of the startups that received investment were distributed as Istanbul, New Jersey and Kocaeli. 2 venture capital investment fund was also established.

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

1 Human Resources

1 E-Commerce & Marketplace

1 Gaming

1 Marketplace

1 Insurance & Artificial Intelligence

1 Health & Artificial Intelligence

News of the Week

Last week, 2 Venture Capital Investment Fund (GSYF) received establishment permission.

In the Turkish Capital Markets Board (CBM) newsletter published on Thursday, March 7th; It was announced that 2 portfolio company received establishment permission for 2 venture capital investment fund.

Permitted Funds:

Azimut Portföy Yönetimi AŞ Tatil Sepeti 2 Venture Capital Investment Fund

İstanbul Portföy Yönetimi AŞ XCapital Venture Capital Investment Fund

🎯 Talent matching platform Workflex raised funding.

Workflex, a global customized talent matching platform, has raised funding from Vanora Ventures.

Transaction Type: Investment

Valuation: –

Investors: Vanora Ventures

Co-founders: Zeynep Bilgiç

Headquarters: Istanbul

🎯 Global marketplace Shippn raised $547.000.

Shippn, which enables users to shop from different parts of the world, has raised $547.000 in pre-Series A bridge round. The investment round was led by KT Portföy, with participation from APY Ventures, Mindvest GSYF, Lima Next Ventures, Kültepe Yatırım, Faik Ulutaş and Cem Bahar.

Transaction Type: Investment

Valuation: $ 8.000.000

Investors: KT Portföy, APY Ventures, Mindvest GSYF, Lima Next Ventures, Kültepe Yatırım, Faik Ulutaş, Cem Bahar

Co-founders: Seyfettin Ersen Erol, Levent İlhaner, Enes Güren, Duhan İçöz

Headquarters: New Jersey (USA)

🎯 Competitive gaming platform Gamer Arena has raised funding with $6 million valuation.

Gamer Arena, which offers e-sports tournaments, competitive mobile games and artificial intelligence products to its users with the GAU ecosystem it developed, has raised funding with $6 million valuation from DOMiNO Ventures.

Transaction Type: Investment

Valuation: $ 6.000.000

Investors: DOMiNO Ventures

Co-founders: Kerim Yılmaz

Headquarters: Istanbul

🎯 Online shopping platform Yenir raised funding.

Yenir, which brings products that restaurants cannot sell at the desired time to consumers at discounted prices, has raised funding from Founder One.

Transaction Type: Investment

Valuation: –

Investors: Founder One

Co-founders: Servet Akdoğan, Dolunay Kaplan

Headquarters: Istanbul

🎯 Insurance pricing platform Lumnion raised $1 million.

Lumnion, which develops artificial intelligence-based end-to-end insurance pricing platforms, has raised $1 million. The investment round was led by Maxis Girişim Sermayesi Portföy Yönetimi A.Ş. Yenilikçi Venture Capital Investment Fund, with participation from Vakıf Katılım Bankası A.Ş and Yapay Zeka Fabrikası.

Transaction Type: Investment

Valuation: –

Investors: Maxis Girişim Sermayesi Portföy Yönetimi A.Ş. Yenilikçi Girişim Sermayesi Yatırım Fonu, Vakıf Katılım Bankası A.Ş, Yapay Zeka Fabrikası

Co-founders: –

Headquarters: Munich (Germany)

🎯 Clinical decision support system PhiTech raised $1.1 million.

PhiTech, which develops an artificial intelligence-supported clinical decision support system, has raised $1.1 million in Seed funding round, led by Arya GSYF. rz Portföy 4. GSYF, Simya VC, Vestel Ventures ortaklığıyla yönetilen Tacirler Portföy Gelecek Etki Fonu, İstcapital and a group of angel investors also participated in the investment round.

Transaction Type: Investment

Valuation: –

Investors: Arya GSYF, Arz Portföy 4. GSYF, Simya VC, Vestel Ventures ortaklığıyla yönetilen Tacirler Portföy Gelecek Etki Fonu, İstcapital, melek yatırımcılar

Co-founders: Dr. Saliha Durmuş, Prof. Dr. Tunahan Çakır, Prof. Dr. Erdoğan Sevilgen

Headquarters: Kocaeli

Other News of the Week:

📌 Midas, which enables users to buy and sell stocks on the American and Istanbul stock exchanges, has received an administrative fine of 27.7 million TL following an investigation initiated by SPK.

📌 Insider has achieved a $200 million deal, reaching the recurring revenue target.

📌 The first 15 startups selected for the National Technology Move within the scope of the Turcorn 100 program, initiated by the Ministry of Industry and Technology of the Republic of Turkey, have been announced. The selected startups for the program are: Ace Games, Albert Health, AppSamurai, Bulutistan, Colendi, Enqura, Fazla, Macellan, Picus Security, Pixery, RS Research, Techsign, Vispera, VRLab Academy, and Wask.

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