Dream Games, a Turkey-based pioneering mobile gaming company, has become Turkey’s fourth unicorn with a valuation of USD 1 billion. With this cornerstone, the number of unicorns the Turkish startup ecosystem has created in the past two years has now increased to four including Peak Games, Trendyol, and Getir.
The company said on June 30 that it has secured USD 155 million from investors, valuing the company at USD 1 billion just months after releasing its inaugural product, Royal Match. Founded by former Peak Games staffers, Dream Games raised USD 50 million worth of investment in March 2021.
Previously, the US-based interactive entertainment company Zynga acquired the Turkish mobile game developer Peak Games for USD 1.8 billion in June 2020. Chinese e-commerce giant Alibaba acquired an 82 percent stake in Turkish e-marketplace Trendyol for USD 782 million in 2018. Alibaba invested USD 350 million in Trendyol in a corporate round in March 2021, bringing Trendyol’s total valuation to USD 9.35 billion. And, Getir, a Turkish rapid grocery delivery startup, raised USD 978 million in its Serie-B,C and D funding rounds in 2021. Getir’s valuation soared to USD 7.5 billion in the last round finalized in June 2021.
Turkey expects more unicorns to emerge soon, nurtured by its mature startup ecosystem, a large and young population with high-tech penetration rates, an affordable and a competent developer pool, an increasing investment trend in diverse sectors of industry, and successful exits to global companies.