The State of Startups and VC in Türkiye

Record VC investment in AI, Deep Tech, and Health sectors, coupled with a robust pipeline of 1,000+ startups, positions Türkiye as the fastest-growing tech ecosystem in EMEA.

Key findings

• Türkiye's startup ecosystem value grew 9.4x between 2019 and 2024, the fastest among EMEA's leading ecosystems, ahead of Saudi Arabia at 6.9x.
• Türkiye has 950 VC-backed startups at early stage and only seven at late stage with €100M+ raised, a pipeline still weighted to the earliest rounds.
• Turkish startups raised €1.2B in VC funding in 2024, up from €922M in 2023 but well below the €3B raised in 2021.
• Turkish AI startups raised a record €581M in 2024, of which €454M came from a single round by the unicorn Insider.
• Five startups took €4.8B of the €7B of VC raised in Türkiye since 2020, leaving 30% of the capital for the other 1,000+ VC-backed companies.