Dealroom+土耳其科创企业报告

Stateof

TürkiyeTech2023

May2023

Foreword

“

Inthedigitalagewelivein,technologystartupscontinuetoshapeandtransformourworld.Thesedynamic

organizationsnotonlyofferinnovativeproductsand

services,butalsocreatenewopportunitiesforeconomic

growth,employmentandsocialdevelopment.Thisreportispreparedasareliableresourcefordecisionmakers,

investors,entrepreneursandindividualsinterestedinthe

changesandpotentialoftransformativetechnology

companies.

IncollaborationwithDealroom.co,wearedelightedto

presentthefirsteditionoftheStateofTürkiyeTechreport.Thisreportprovidesasummaryofthetechnology

ecosysteminTürkiyeaswellasin-depthanalysesforitsfastgrowingsectorssuchasGaming,FintechandMobility.

Theinsightsinthisreporthasbeenderivedfromthe

Türkiye

TechnoHub

,acomprehensiveandauthoritativeplatform

dedicatedtotracking,analyzingandsharinginformation

aboutTürkiyestartupecosystem.Thisreportprovidesan

essentialoverviewoftheplatform'scapabilitiesandits

impactontheindustry,andhighlightsourcommitmenttoprovidingaccurateandup-to-dateinformationtransparencyforourcommunity.

Strengtheningtheconnectionsandfosteringcollaboration

withinthetechecosystemplaysanimportantrolein

promotinginnovationandguidingdevelopment.Hencewe

usetheexpertiseofindustryprofessionals,userfeedback

andquantitativemetricstoprovideacompleteand

balancedperspectiveinourassessments.

Webelievethatthisreportwillserveasavaluabletoolfor

TürkiyeTechnoHubusersandanyoneinterestedin

technology.Intheagewhereaccurateinformationcan

changeeverything,asTürkiyeTechnoHub,weaimtohelpall

stakeholdersofournationaltechnologyecosystemmake

informeddecisionsandembracetheexcitingpotentialof

technologyandinnovation.Wewillcontinueourworkwith

thegoalofNationalTechnologyMoveandthevisionof

DigitalTürkiyesothattheCenturyofTürkiyewillbethe

CenturyofDigital.”

PresidencyofTheRepublicofTürkiye

DigitalTransformationOffice

Page/2

€39B

Ecosystem

value

1st

HighestvalueamongMENAecosystems

NOW

2018

€39B

€4B

Türkiye

€1.6B

VCinvestment

raisedin2022

70%

VCinvestmentfromforeign

investorsin2022

ExploreTürkiyestartups

»Discover

startups

Source:Dealroom.co

2nd

EcosysteminMENA

forVCinvestment

raisedin2022

3000+

Startups

6

Unicorns

Türkiyeʼsstartupsectorinnumbers.

Page/3

Tableofcontents

1.EcosystemOverview

2.FundinglandscapeandInvestors

1.EcosystemOverview

Turkishstartupsarenowworthmorethan€39B,closeto10xmorethanin2018.

CombinedenterprisevalueofTürkiyebased&foundedstartups

foundedsince1990

»viewonline

€40.0B

€30.0B

€20.0B

€10.0B

€39B€39B

€35B

€8B

€4B

€2B

€4B

2017201820192020202120222023YTD

Valuation

€9.1b

trendyo

Valuation

€15B

EnterpriseValue

byLaunchYear

▊€17.2b

▊€20.0b

▊€648m

▊€421m

▊€350m

▊0

▊0

2015-2021

2010-2014

2005-2009

2000-2004

1995-1999

1990-1994

1900-1989

Page/6Source:Dealroom.co

TheTürkiyestartupecosystemhasthehighestvalueamongkeyMENAecosystemneighbours.

EnterprisevalueofselectedMENAecosystems

Growth(2018-2023YTD)

Qatar

Egypt

SaudiArabia

UnitedArabEmirates

Türkiye

€10B€20B€30B€40B

Page/7Source:Dealroom.co

Discoverthetopstartupsin

Türkiyeusingpredictivesignals.

Dealroomhaslaunchedapowerfulpredictivealgorithmto

discoverthemostpromisingcompanies,DealroomSignal.

TheinputforeachSignal'salgorithmincludescompanygrowth(teamsize,

productgrowth),foundersstrength,completionscoreandcontextualdata(does

thecompanyfitintosegmentsofinterest),timing(isthestartuplikelytoraise

theirnextroundsoon)andteamcomposition.

»TopTürkiyestartupstowatch

Page/8

TurkishstartupsinFintech

>Fimple

ExploretheseTürkiye

startups

Exploremore

TurkishstartupsinGaming

270+

startups

140+

270+startupswithacombinedenterprisevalueof€1.6B.

Arecord€70M

raisedin2022.

140+startupswithacombinedenterprise

startups

€428M

VCFundingraised

valueof€5.8B.

€70M

VCFundingraised

Arecord€428Mraisedin2022.

SelectedFintechStartups:

SelectedGamingStartups:

dream*

ExploretheseTürkiyestartups

Exploremore

Page/9Source:Dealroom.co

TurkishstartupsinFood

gei

naurig

ExploretheseTürkiyestartups

Exploremore

TurkishstartupsinTransportation

138+

138+startupswithacombinedenterprise

155+

startups

valueof€9.4B.

Arecord€736Mraisedin2022.

startups

€736M

155+startupswitha

combinedenterprise

valueof€403M.

€22M

VCFundingraised

€22Mraisedin2022.

VCFundingraised

SelectedFoodstartups:

SelectedTransportationstartups:

CAR

ExploretheseTürkiye

startups

Exploremore

Page/10Source:Dealroom.co

ExploreTurkishstartups

byindustry

Viewonline

Turkishuniversitiesareabreedinggroundforentrepreneurialtalent.

SelectedTürkiyeuniversities&companiesfoundedbytheir

respectivealumnis

»Viewmoreonline

Page/12Source:Dealroom.co

2.

Fundinglandscape&

investors

Turkish-basedstartupsraised€1.6Bin2022,thesecondhighestyearafter2021,withthelargestroundcomingfromrapiddeliverygiantGetir.

ExploreTürkiyetoproundssince2022

»viewonline

VCinvestmentinstartupsbasedinTürkiye

»viewonline

▊€0-1M(pre-seed)▊€1-4M(seed)▊€4-15M(seriesA)▊€15-40M(seriesB)

▊€40-100M(seriesC)▊€100-250M▊€250M+

€300M

€200M

€100M

€2.9B

€1.6B

€539M

€353M

€162M

€118M

201720182019202020212022

Page/14Source:Dealroom.co

Early-stagefundingreachedanalltime-highin2022,with2023alreadyalmostmatching2020fundinglevelsinthefirstfourmonthsalone.

ExploreTürkiyeearly-stageroundssince2022

»viewonline

Early-stageVCinvestmentinstartupsbasedinTürkiye

»viewonline

▊€0-1M(pre-seed)▊€1-4M(seed)▊€4-15M(seriesA)

€337M

€307M

€300M

€200M

€150M

€123M

€85M€90M

€100M

€71M

2017201820192020202120222023

(asofApril)

Page/15Source:Dealroom.co

€6.8B

€5.5B

€1.9B

€1.2B

€401B

€319B

€115B

€90B

€23B

€3B

Türkiyeranks2ndinMENAforVCinvestmentraisedbetweeninthelastfiveyears,with

Istanbulalsothe#2city.

VCinvestmentinMENAcountries

CumulatedVCinvestment2018-2022

VCinvestmentinMENAcities

CumulatedVCinvestment2018-2022

€5.3B

€4.9B

€1.2B

€813M

€146M

€127M

€111B

€96B

€47B

€37B

Page/16Source:Dealroom.co

Growth2021-2022

Türkiyeranksasthe2ndMENAecosystemfor2022VCinvestment,despitesloweryearonyeargrowththanitspeers.

VCinvestmentofMENAecosystems

€2.5B

€2B

€1.5B

€1BM

€500M

Page/17Source:Dealroom.co

Fashion,foodandhomelivingattractedthemostVCinvestment,duetofundingraisedbyTrendyolandGetir.

VCinvestmentbyindustry

»viewonline

CumulatedVCinvestment2018-2022

Fashion

Food

HomeLivingGaming

Media

EnterpriseSoftwareMarketing

Fintech

TransportationHealth

Energy

€776M

€557M

€276M

€242M

€149M

€125M

€62M

€54M

€1.9B

€1.7B

€1.5B

Page/18Source:Dealroom.co.DoublecountingofVCinvestmentbetweenindustriesmayoccurasstartupsareassignedtouptotwoindustries.

TherecentincreaseinVCinvestmentinTürkiyehasbeendrivenbyincreasedforeigninvestment,especiallyfromtheUSandAsia.

VCinvestmentinstartupsbasedinTürkiye

»viewonline

Totalinvestmentbylocationofinvestors

▊Domestic▊Europe▊USA▊Asia▊RestoftheWorld▊Undisclosed

€2.9B

€300M

€200M

€1.6B

€100M

201720182019202020212022

SelectedforeigninvestorsactiveinTürkiye

InvestorHeadquarterInvestments

500

California

California

UAE

SouthKorea

二Netherlands

evmdetipsikologcom

yider

kiml

aevreka

voltlines

gei

Page/19Source:Dealroom.co

Discoverthetoproundsin

Türkiyestartupswithforeign

investorparticipation

»Exploretoproundssince2022

»Exploretoproundsofalltime

Page/20Source:Dealroom.co

USA

15%

Europe

18%

Localinvestorsparticipateinmorethanhalfoftotalrounds.

DiscoverinvestorsbasedinTürkiye

»viewonline

VCinvestmentinstartupsbasedinTürkiye

HYPERLINK"/transactions.rounds/f/growth_stages/not_mature/rounds/not_GRANT_SPAC%20PRIVATE%20PLACEMENT/slug_locations/a