Investments surpass 2019 total in 1st 9 months of pandemic year
In the first nine months of 2020, the investments of $114.6 million received by 106 startups surpassed the investment total of $106 million in the whole of 2019. Looking at the last two years, it is estimated that there are $421 million worth of funds wai
THE ENTERPRISE ecosystem continues to grow during the pandemic period. According to Startups.watch data, 106 startups received an investment of $114.6 million (TL 910 million) in the first nine months of 2020. In the whole of 2019, 106 startups had received $106 million. Moreover, despite the seven-month period under the influence of the pandemic, the resulting development pleased the enterprise ecosystem. Insider and Meditopia’s investments have had a high impact on the investment of $114.6 million.
However, the total figure does not include any investments received by e-scooter company Martı. It is remarkable that the figures for the first nine months announced at the Startups.watch third quarter event held online will be boosted even higher as soon as the investment agreement of Martı becomes official.
In terms of the investment amount, Pazarlama Teknolojisi came to the fore due to Insider, while cloud-based software as a service (SaaS) startups were able to stand out in terms of the number of investment deals.
TURKEY IN 2ND LEAGUE
Again, according to Startups.watch data, Turkey is in the second league in Europe in the third quarter of 2020 in terms of the angel and venture capital investments compared to other countries. In fact, it can be said that it is far behind its population and potential. When we look at the Middle East and North Africa, Turkey was again in the second league. However, unlike last quarter, Turkey ranked above the United Arab Emirates (UAE) and Egypt.
In the third quarter, another gaming startup Rollic achieved a hard-to-repeat success with a $165 million exit deal in 21 months.
The venture ecosystem also witnessed an interesting change in terms of funds. The funds rolled up their sleeves to support more startups in Turkey, without being affected by the increase in the dollar exchange rate. Until now, eight funds have accumulated $176 million in resources.
Looking at the last three years, there is a $421 million fund waiting for startups in Turkey. Although there are many startups adversely affected by the pandemic, increasing assets in the digital space are more valuable than ever. Looking at the Startups.watch data, eight Turkish startups abroad managed to receive $27 million worth of investment in the third quarter.