Turkiye Startup Ecosystem event, which is organized every quarter by Startups.watch and includes investments and acquisitions of that quarter, took place at JUSTWork on Tuesday. The highlights of the entrepreneurial ecosystem at the event were as follows.
Investments on the decline
In the first half of 2023, $111 million were invested in 130 investment rounds. On the basis of the second quarter, $52 million were invested in 72 investment rounds. Considering the amount, the investment amount decreased by 59% compared to the same quarter of the previous year. Including convertible debts (Insider and other transactions) and crypto transactions, the total amount reached $228 million in the first half of 2023.
Declines are also seen in many countries
In the UK, in the 2nd quarter of 2023, the amount of investment decreased by more than half compared to the same period of the previous year, and the amount of investment in Israel fell by more than half in the same way.
Turkiye fell behind in Europe
In the first half of 2023, although Turkiye is in a better position compared to many countries in terms of the number of investments, it was below Norway, Estonia and Greece in terms of investment amount. It ranked above Poland, Portugal and Bulgaria.
Turkiye Maintained Its Position in the Middle East and Northern Europe
In the first half of 2023, Turkiye was below Saudi Arabia and the Arab Emirates, and above Egypt.
The Most Investments are in the Gaming Industry
Although game investments continued to decline, it was the vertical that received the most investment in the first half of 2023 in terms of the number of investments. Energy, sustainability, fintech and marketplace were other verticals that received the most attention.
Continued interest in crowdfunding
In the first half of 2023, approximately one out of every four investments in the seed stage was in the form of share-based crowdfunding. In total, the startups raised $9.3 million in 28 rounds.
Institutions are accustomed to investments
Institutions and Corporate venture capital funds took part in 39 of the 130 investment rounds in the first half of 2023.
The number of GDP reached 270
The number of GFIs granted establishment permission by the CMB reached 270 (13 of them closed). GDPs were also present in one out of every two investments in the first half of 2023.
Biggest purchase: Getit bought N11
The biggest purchase in the half of 2023 was realized when Getir bought the remaining shares of n11.
Startups are eager to buy abroad acquisitons
Missafir bought a startup from Croatia in the first quarter of 2023, and Papara bought Rebellion from Spain in the second quarter. Now, we have started to hear about domestic and foreign venture purchases frequently. The report card of startups looks much better than big holdings in this regard.
Investments by women enterprises have decreased
In the first half of 2023, only 19 of 130 investments had women entrepreneurs.
Source: Egirisim / Prepared by Irem Yildiz