Startups collectively raise $100 million in 10 months

Dunya Executive - - OVERVIEW -

Turk sh startups rece ved $5.2 m ll on nvestment n October, ra s ng the total amount generated n the f rst 10 months of 2017 to $99.5 m ll on, accord ng to Startups.watch.

The October f gure represents a 30% ncrease from a year ago and the average nvestment has ncreased compared w th last year. Datapare, Dusyer , Entekno, Ins der, Marketyo and Reengen were the compan es that attracted nvestor nterest, sa d Startups.watch founder Serkan Unsal.

There are 98 other potent al nvestments to be announced n the next two months, he added. The total VC and PE nvestment n the startup ecosystem w ll surpass $100 m ll on n 2017. The new regulat on favor ng crowd-fund ng s also expected to help boost the market, Unsal sa d.

Volt s dead, long live Volt Lines

Volt, a Turkey-based startup that prov des on-demand, nner-c ty, peer-to-peer r deshar ng, has recently p voted ts core bus ness, after exper enc ng fa lure. The startup fa led for so many reasons, sa d ts founder Al Halab , add ng that Volt L nes came to l fe from the ashes of Volt.

The startup has rece ved a total of $1.25 m ll on nvestment from VC’s such as Wamda, MEVP, Saned Partners and pr vate nd v dual nvestors. Although reach ng a peak supply of 26,000 dr ver tr ps monthly, t fa led after t was unsuccessful n ts attempt to reach the cr t cal mass requ red to stay afloat.

Wh le try ng to sell the wh te label to corporates, Halab saw a b gger problem, wh ch led h m to h s new startup, Volt L nes. The startup, wh ch s also bu lt on the shar ng economy model, offers shuttle shar ng for corporat ons and nd v duals.

Halab ncorporated a new company n October w th F rat Isbecer, an angel nvestor and expects to close ts seed round n early December, accordiaccordng to his Linked in post. Previous Volt investors are expected to invest in Volt Lines.

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