Türkiye
Introduction
Türkiye’s tech ecosystem has experienced one of the fastest growth among EMEA countries, increasing in value by 10x in five years.
Türkiye now stands out as one of the top ecosystems in MENA for VC investment raised and value created, with Istanbul and the Marmara region serving as its primary hubs.
Successes Getir and Trendyol raised more than $1B in VC investment over their lifetime.
Initiated by
Venture Capital
In 2021, venture capital investment in Turkish startups experienced a significant surge, growing more than 8x since 2020.
2022 was marked by a slowdown, though levels of investment were still high as rapid delivery giant Getir raised $768M in Q1 in a Series E round.
Below we break venture capital into three distinct stages:
- Startup stage ($0-15M rounds)
- Breakout stage ($15-100M rounds)
- Scaleup stage ($100M+ rounds).
This provides more consistent and timeless segmentation of the startup & venture capital landscape (more so than self-reported round labeling, which are applied inconsistently, especially between business cycles).
Early and breakout stage funding are steadily growing, reaching an all time high in 2022
By stage
Early stage
Access early-stage funding rounds into Türkiye startups here on the platform.
Breakout stage
Access breakout-stage funding rounds into Türkiye startups here on the platform.
Scaleup stage
Access scaleup-stage funding rounds into Türkiye startups here on the platform.
By industry
Compared to MENA average, Türkiye overindexes in Foodtech, Homeliving and Fashion , as Trendyol and Getir concentrate a significant share of Turkiye’s VC investment in the last five years.
Gaming is one of the fastest growing industries in Türkiye and ranks 2nd for VC investment raised in 2022, with mobile gaming at its center, with companies Dream Games, Spyke Games, Manc Games and Ace Games all raising breakout or late stage rounds.
Explore Turkish startups VC investment by industry following the link here.
Investors
The following showcases the top investor into the Turkish startup ecosystem based on the number of investments in the last five years , with the number one investor indexed to 100.
The top three investors are crowdfunding platform Fonbulucu, followed by US VC Keiretsu Forum and Turkish VC Alesta Investment.
Explore the data for the most active investors here on the platform.
Global position
Türkiye ranks 2nd in MENA for total VC investment raised in between 2019 and 2023.
In the last two years, Türkiye is showing more resilience than other top MENA countries like UAE and Saudi Arabia.
Related Content
Reports: Türkiye ecosystem report 2023
Reports: Browse all MENA focused reports on Dealroom
Dealroom Data: Explore all Turkish funded companies
Dealroom Data: Explore all funding rounds in Turkish startups