Turkish Startup CoolREG Receives TRY 7.2 Million Investment

CoolREG, a Turkish startup focusing on Turkish and air conditioning technologies, has received an investment of TRY 7.2 million. The Turkish startup recently received an investment of TRY 7.2 million from Asya Ventures, founded by Ahmet Sefa Bir and Şerafettin Özsoy.

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CoolREG

After the investment of TRY 72 million valuation, 10 per cent of CoolREG's shares were transferred to Asya Ventures. By the way, let us also mention the participants of the signing ceremony at the Startup Investment Summit. Mayor of Başakşehir Municipality Yasin Kartoğlu, CoolREG Founder Bülent Kula, Asya Ventures founders Ahmet Sefa Bir and Şerafettin Özsoy, Asya Ventures investors Emre Tonkuş and Melih Sınırcı also attended. CoolREG utilises renewable energy sources and industrial waste heat sources for heating and cooling systems and electricity generation. It can design, manufacture and maintain ORC technology by applying it with its unique turbine technology. CoolREG plans to start its international expansion through Germany. The 2nd investment round is also aimed to be realised in the very near future. If the targets set for the 2nd investment round are met, both Asya Ventures and 2 individual investors have committed to participate in the new round.