Startups

Turkish startup Bren received an investment over $7.5 million valuation

Having received an investment of ₺5 million from Alesta last year, Bren has now received an investment of $7.5 million from Keiretsu Forum Turkey.

In recent years, the word that has been on our agenda most all over the world has been ‘Digitalization’. While many large and small companies appear in this field, some of them are rapidly advancing technologically and taking firm steps towards becoming Turkey’s largest companies. So much so that these companies are starting to become the focus of attention of investors.

Bren Advanced technology Energy Inc., which has more than 10 years of experience and R&D project experience in the field of energy efficiency and fluid dynamics, and since 2018, offers its customers energy, maintenance and time-saving domestic technologies with its own unique product technologies. Although it is a young company, it has entered the radar of world giant investors.

Having received an investment of ₺5 million from Alesta in 2020, Bren Advanced Technology Energy Inc. has now received an investment of $7.5 million from the global angel investor network Keiretsu Forum Turkey. Alesta also made a continuation investment in the investment tour. With this investment round, the company has achieved a significant success by increasing its valuation 13 times in less than a year.

Developed 4 special products

Explaining that companies are making their critical equipment smart with industrial IoT solutions, Bren Advanced Technology Energy Inc. CEO Cinar Laloglu said that companies focus on problems that they cannot directly notice. Informing that they have developed four products within this scope, Laloglu said, “We have also entered the radar of world giant investors in these projects. In 2020, we received an investment from Alesta with a valuation of ₺5 million. With this investment round, we increased our valuation 13 times in less than a year, and now we aim to increase our sales abroad with new products.” Explaining that they aim to contribute to companies and the environment by digitizing all traditional industrial infrastructure with innovative technologies, Laloglu said, “The fact that there are very good enterprises coming out of Turkey motivates other enterprises, we will continue to work harder to achieve better.”

Energy saving up to 15%

Providing information about the four products they have developed, CEO Laloglu said, “We save up to 15% of energy, equipment and time to companies with notifications and guidance via artificial intelligence-based software. With energy efficiency as a priority, we develop software for systems to operate at maximum performance. Our system, which includes hardware as well as software, enables customers to manage malfunctions, working times, and financial losses of equipment in hard-to-reach and risky areas in the facilities it is integrated with.” Laloglu pointed out that one of these products, Bren STM (Steam Technology Monitoring), is used in the industry, especially in steam technologies, and continued as follows: “We developed this product based on nanogenerator technologies. Bren STM emerged as a result of the multi-disciplinary work of the mechanical, electronic and software teams. We have made these technologies that can produce their own energy more original and innovative by eliminating the need for battery replacement. With Bren STM, we provide energy, maintenance and time savings to our customers by monitoring critical mechanical equipment with artificial intelligence-based, self-generating wireless sensors and industrial internet of things (IoT) technology.”

Targets are Russia and the Middle East

Explaining that they started sales operations in different countries with the aim of growing abroad, Laloglu said, “After America and Europe, Russia and the Middle East market are among our priority targets. We will continue to produce new products with high added value with different technologies in the market.”

The team has grown 3 times in 1 year

Noting that the industrial IoT sector is developing rapidly, Laloglu noted that 43% growth is expected in the next 5 years. Laloglu stated that their companies also exhibited a strong growth performance in this field and said, “Our team has grown 3 times in 1 year. The number of our customers has increased by 5 times.” Explaining that they aim to increase smart sensors and combined artificial intelligence applications that can produce their own energy by integrating the internet of industrial objects with low power production technologies, Laloglu said, “In this context, we will bring an innovative solution by applying our internationally patented technology, flexible hybrid nanogenerator technology, with a different application area in 2022, for the first time in Turkey.”

It has smart sensor technology

Explaining that oil & gas, power plants, food, chemical industry, packaging and textile sectors are among their targets, Laloglu gave the following information about their business models: “We have a smart sensor technology that can produce its own energy. Thus, we diverge from traditional solutions. We serve with a business model with a return on investment of less than 12 months. We are moving on the B2B sales and rental model. It is very profitable and advantageous for our customers who need the rental model in large quantities.”

Soruce: Egirisim / Translated by Irem Yildiz

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