The Turkish startup ecosystem managed to make this happen attract a record amount of venture DC (VC) in The first nine months of this is yearThe latest Industry data showed, led by gamingE-Commerce, financial technologies and software and the cloud technologies initiatives.
According to emerging industry watch companies, a record $1.49 billion (27.6 billion Turkish liras) in Investments across 208 deals flowed into Turkish startups from venture capital funds, private Equity funds and companies led by venture capitalists from January to September. up From 1.44 billion dollars a year earlier.
The ecosystem has broken record Even without the whopping $768 million express grocery delivery app Getir has raised from investors so far year.
However, the total pace slow down in Third quarter as such challenges Such as rising interest rates, market turbulence and global Slower in Financing clouded the industry’s prospects.
startups.watch report for Q3 2022 showed that around $90 million have been invested in Turkish startups through 51 deals in Seed, early, then venture Phases of the capital from January until September.
a fourth-over-quarterthe transaction volume decreased by 28% and the number of transactions was down by 35%, the data showed.
Leading Fintech way
bargains in The first Nine months at the forefront of startups in financial technology, software as a service (SaaS), gaming, artificial intelligence (AI), and marketplace.
The economic downturn has spawned iBuyer-style startups forwardincluding Easycep and Getmobil on the smartphone side The Vavacars in the cars. The former two buy And sell refurbished electronic products, while the latter operates in Buying and selling second-palm vehicles.
Games continued to be the industry with the biggest number of new startup companies. Although the number of deals fell, and first nine months of The year still see highest-investment amount in gaming projects.
Investment is guaranteed in The period from January to September made Turkey is the third largest receiver of capital in The gaming industry in The world.
Among other things, one out of The data showed that all five deals involved foreign investors. seventy three of 208 investment deals in The first Nine months including O . company venture capital funds.
The report said size and count of Investment deals continued to decline in many countrieswhich suffers from market headwind.
He. She also Highlight that 52 out of The agreements included 208 start-up companies with institutions.
big rise in new funds
The report said a record number of venture The VC funds were set up from January through September. about 81 venture It is estimated that VC funds set up in The last Two years, paid by new adjustment.
The global Economic downturn overshadows prospects for Industry in The last quarter of The yearas a number of Deals are expected to be delayed a lot behind 329 Agreements Completed in 2021.
In 2022, the number of deals in Series A and B . stages are likely to fall behind 2021 numbers,” said Serkan Unsal, founder of Startups.watch.
“We can attribute this to decline to me fact Investors are starting to hesitate to invest in new projects because of global crisis. Although 30 out of 186 Initial Investments in 2022 was equity-based crowdfunding, and there was a great deal of success decrease in the number of seed investments event in Istanbul to announce the report.
martyred big drop in Early stage agreements, Series A and Series B, in The first nine months.
“It seems unlikely that this is decline will recover in The last quarter. Those who are looking for Chain investments have become b more He approves on Foreign investors because they have little options in Turkish at this point. Because there is no also shrinkage in overseas Investments, startups at this stage are unlikely to receive investments.”
Istanbul: shining star
Meanwhile, Startups.watch report showed that Istanbul maintained a level pace When it comes to investments in technology Mainly led startups gaming studios.
The data showed that the Turkish city ranked sixth among its peers in Europe. that’s it second just after London in gaming Investments amounted to 341 million dollars through 16 deals, the fourth in The world.
