Turkish Startup WeWalk Receives $2.5 Million Investment

WeWalk, a local startup that made a name for itself in a short time with the smart cane technology it developed for visually impaired individuals, received an investment of 2.5 million dollars. WeWalk, which was previously selected as the "Startup of the Year" by Amazon, serves in nearly 60 countries with the smart canes it has developed. WeWalk, a local initiative that has come a long way in a short time, shows that it has achieved global success with the investment it has received.

WeWalk has not only received a 2.5 million dollar investment, but also new investors. Nesta Impact Ventures, health fund King's Health Partners, and Turkey's Bilişim Vadisi Fund, APY Ventures and Galata Business Angels are among those backing the local startup. At the same time, it was learned that Germany's national team famous football player İlkay Gündoğan invested in this round, in which Europe's leading health and social impact-oriented capital funds participated. Vestel Ventures, one of the biggest supporters of WeWalk, also took part in this round. WeWalk is an initiative that faces the problem one-on-one and solves it in the best way possible. WeWalk co-founder Kürşat Ceylan, who is visually impaired himself, stated that this fresh investment will be used to further develop their technology. He also announced that the investment will be utilized to popularize smart cane products globally.

On the other hand, in addition to the investment of 2.5 million dollars, Imperial College London and RNIB, the UK's largest association for the visually impaired, succeeded in obtaining 2 million dollars of R&D grant funding from Innovate UK. Innovate UK is funded by the UK government.

Also Read: Four Models of Crowdfunding

WeWalk Smart Canes One of the Best Inventions of the Year

According to World Health Organization (WHO) estimates, there are over 253 million visually impaired people in the world. And life is much more difficult for them. They especially need a cane to recognize obstacles on the ground and to keep their way. In fact, this tool, which has been used in a simple format since the 19th century, becomes highly capable with WeWalk's smart technology. When this smart cane encounters obstacles above the waist and at head level, it quickly detects them thanks to its sensors. It then protects the user by sending a warning.

WeWalk's smart cane works in integration with a smartphone app. It also provides special, accessible navigation for visually impaired people. In particular, it shares information about public transportation and the places around it by voice. Moreover, it renews itself in line with smart urbanization plans. WeWalk Smart Canes, which make visually impaired people more independent, were selected as one of the best inventions of the year by TIME Magazine.