November 18, 2022
Turkish startups raised investments well-nigh to USD 1.5 billion across 208 deals in seed, early, and later VC stages during the first three quarters of 2022, according to Startup.watch’s “Turkish Startup Ecosystem Q3 Report 2022.”
When the decacorn Getir investment is excluded, the total investment value in angel and VC deals reached an all-time high of USD 727 million during the first nine months of 2022, with USD 90 million invested across 51 deals in the third quarter alone.
According to the report, FinTech, SaaS, Game, AI, and MarketingTech were the top five funded verticals in terms of deal count.
When it comes to gaming, Turkish startups broke a deal size record with USD 342 million, making Türkiye the third most invested country in gaming deals globally during the first nine months of 2022. On a city basis, Istanbul garnered the 2nd highest number of gaming deal sizes in Europe trailing only to London, and ranked 4th globally with USD 341 million.
Source: Republic of Türkiye Investment Office
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