Turkish Startup Ecosystem 2018’s Third Quarter Report Is Disclosed!

Startups.watch, which offers startup reports on Turkey and MENA region regularly to its users, has announced the report of 2018’s third quarter. Among the Turkish startups that achieved to get funded, startups from various sectors are present.

Turkish Startup Ecosystem_1

We can define the concept of start-up which progresses significantly in the world, as the name given to the entrepreneurships that are technology based, innovative and open to development. Startups.watch platform, which operates in our country, prepares quarterly and particularly reports on Turkey and MENA and also inclusive reports about the world’s startup ecosystem.

According to the 2018 Startup Ecosystem Report Q3: In the early stage investments during the first 9 months of 2018, global companies has invested 43.1M $ in various Turkish startups. These investments are calculated as $19.3M in the first quarter, $9.5M in the second quarter, $14.3 M in the third quarter. In the disclosed equity fundings ranking, Lidyana, which is one of the recognized online shopping websites in Turkey, is in the first place with 2.3M $ while Modanisa is the second with $1.6M. Considering these 3 quarters, in the current investments, e-commerce takes the first place while local services take the second.

Among the Turkish entrepreneurships, the game software sector has also made a big progress. Gamer’s Qube, an accelerator program aiming mobile game developers, made 2 investments of $70B.

Turkish Startup Ecosystem_2

According to the 2018 data, Turkey’s equity fundings are consisted of angel & VC funds ($ 43M); as well as the venture capitals which compose the rest with $133M. Angel & VC funds decreased $68M as against venture capitals increased $54M. According to another disclosed data in Turkey, as the types of early stage equity fundings, Series B type takes the first place with $14M while Seed fundings are the second.

The early stage deals made by corporates in 2018 is 18% of the total investments which are $8M. Besides, in the exits category, Atlassian who bought the Turkish startup OpsGenie, is the first in the ranking with $295M. Atlassian’s invest in OpsGenie has been one of the biggest acquisitions in 2018. The firm has bought Turkish startup for the new version of Atlassian’s project management tool Jira Ops. The other important acquisitions made are: Garaj Sepeti — Araba.com, Kariyer.net- Iskolig, App Samurai — Gripati.

Globally, in MENA and European regions, the most early stage investments are made in the United Kingdom with more than $1B. United Kingdom is followed by European countries such as France, Spain, Germany. Turkey is in the same category with the countries such as Italy, Russia and Finland with $10–100M investments. Turkey, has been the 19th in the European countries ranking during 2018’s third quarter while in the MENA ranking, it has been the 5th during the same period.

In 2018’s third quarter, some of the Turkish startups has been funded abroad. While Logiwa takes the first place, Colendi takes the second. The other startups that accomplished to get funded are respectively: Picus Security, Bundle Network, Buck.ai, Codela, Optiyol and Smart Mimic.

  • The other highlights of the 2018’s third quarter are:
  • Amazon.com has been launched in Turkey.
  • Collective Spark launched its new fund.
  • Ali Baba — Trendyol transaction is completed.

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