Weekly Startup Ecosystem Overview in Turkiye / November 27 – December 3

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Last week, 5 Turkish startups received investment in the entrepreneurship ecosystem. The headquarters of the startups that received investment were distributed as Istanbul, Ankara, London and California. 6 venture capital investment fund was also established.

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

1 Software

1 E-Commerce

1 Mobile Gaming

1 Nanotechnology

1 Financial Technologies

News of the Week

Last week, 6 Venture Capital Investment Fund (GSYF) received establishment permission.

In the Turkish Capital Markets Board (CBM) newsletter published on Friday, December 1st; It was announced that 2 portfolio company received establishment permission for 6 venture capital investment fund.

Permitted Funds:

A1 Portföy Yönetimi AŞ Second Venture Capital Investment Fund

A1 Portföy Yönetimi AŞ Third Venture Capital Investment Fund

Re-Pie Portföy Yönetimi AŞ Electrical Technologies Venture Capital Investment Fund

Re-Pie Portföy Yönetimi AŞ İkas Venture Capital Investment Fund

Re-Pie Portföy Yönetimi AŞ MG Private Venture Capital Investment Fund

Re-Pie Portföy Yönetimi AŞ Proptech Technologies Venture Capital Investment Fund

🎯 3D tour creation platform ELTA360 raised funding with $2 million valuation.

ELTA360, which offers 3D virtual tour creation solutions, has completed its first investment round. The investment round was joined by Inventures.

Transaction Type: Investment

Valuation: $2.000.000

Investors: Inventures

Co-founders: Eli Levi, Okan Aslan

Headquarters: Istanbul

🎯 E-commerce focused investment company Fevup Brands raised 23.7 million TL.

Fevup Brands, a global e-commerce focused investment company, has raised 23.7 million TL from Mercan Kimya.

Transaction Type: Investment

Valuation: –

Investors: Mercan Kimya


Headquarters: Ankara

🎯 Mobile gaming startup Tiamo Games raised funding with 22.5 million TL valuation.

Tiamo Games, which provides mobile game and application software services, has raised funding with 22.5 million TL valuation from Alesta Yatırım.

Transaction Type: Investment

Valuation: 22.500.000 TL

Investors: Alesta Yatırım

Co-founders: Ahmet Adalı

Headquarters: Istanbul

🎯 Lithium-ion battery technology developer Innovasion Labs PINC raised $2 million.

Innovasion Labs PINC, which develops new generation lithium-ion battery technology, has raised $2 million. The investment round was led by APY Ventures, with participation from Kerim Kotan, Cihan Elbirlik and US-based Keshif Ventures.

Transaction Type: Investment

Valuation: –

Investors: Kerim Kotan, Cihan Elbirlik, APY Ventures, Keshif Ventures

Co-founders: Dr. İnanç Ortaç

Headquarters: California

🎯 Financial technology startup Flow48 raised funding from 212 VC.

Flow48, which operates in the field of revenue-based financing, has raised $25 million in pre-Series A funding round, with participation from 212 VC. Speedinvest, Daphni, Blockchain Founders Fund, Unpopular Ventures, Endeavor Catalyst and angel investors such as TLG and NEA CEO Scott Sandell also participated in the investment round.

Transaction Type: Investment

Valuation: –

Investors: 212 VC, Speedinvest, Daphni, Blockchain Founders Fund, Unpopular Ventures, Endeavor Catalyst, Scott Sandell

Co-founders: Idriss Al Rifai, Mario Aletti, Simon Obstbaum, Arjun Kumar, Karim Khattar

Headquarters: London

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