10/15/2021

Turkish Startups Raised All-Time Record in Q3


Setting an all-time record, Turkish startups raised a total of USD 1.4 billion in 206 deals during the first nine months of 2021, with deal volume surging more than ten-fold and number of deals rising 49 percent year-on-year, according to Startup.Watch's “Turkish Startup Ecosystem Quarterly Report-Q3 2021".

Turkey took the 13th place among the European countries that registered most investments in Q3 2021, while taking the 5th place in the Middle-Eastern and North African region in terms of angel and VC investments.

The increase in investment for gaming startups had a great impact on the record breaking of deals. One out of every five deals was made in the gaming industry, with an all-time high of 40 gaming deals in the first nine months of the year.

With these figures, Turkey ranked 9th in Europe's and 3rd in the Middle East and North Africa's Funding First League for Q3 2021.

The record funding in 2021 catered for an eye-catchy increase in the “Turkish Billion Dollar Club", which now has 5 members including Dream Games, Hepsiburada, Getir, Peak Games and Trendyol.

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startups; angel investors; venture capital funds; Startup.Watch