What happened in the startup ecosystem this week? 13

Startups, unlike traditional businesses, are established with the goal of rapid growth and often take risks and receive a large amount of investment. These investments are used to accelerate the growth of the business and they often develop projects that focus on technological innovation. However, the survival and growth of startups is often a challenging process.

Entrepreneurs have to constantly improve their product and business model, impress their customers and satisfy investors in order for their business to succeed. A successful startup is achieved with a team that believes in and is excited about its product, a business model that meets the needs of customers, and proper management of its financial resources. Building a startup therefore requires a great deal of risk and dedication, but can offer significant rewards when it succeeds. Let’s see what happened in the startup ecosystem this week.

Also Read: Private Lesson Platform GoStudent Receives Investment

Startups that received investment

Entia, a healthcare technology company, has completed a successful Series A financing round of €18.7 million.  Click for more information.

Airalo uses software-based eSIM connectivity to provide a wide range of low-cost mobile data packages for international travelers, about 700 in total. It raised $60 million in a Series B round, which it will also use to expand its business.  Click for more information.

Turkish VR mental health startup Mindway announced that it has received investment from APY Ventures and Fatih İşbecer in a bridge round. Click for more information.

Turkish gaming startup Studio Billion received investment in a pre-Series A bridge round. Lima Ventures, WePlay Ventures and B4YO Capital participated in this investment round, and no information was given about the financial details of the round. Click for more information.

Sorb is defined as a sports drink specially formulated for individuals who adopt an active lifestyle. At the end of 2022, it was launched by Cahit Kapukıran and Ali Bilen. Turkish foodtech startup received 3 million TL seed investment. Click for more information.

Socket is a San Francisco, CA-based startup that fights security vulnerabilities and provides visibility, defence-in-depth and proactive supply chain protection for JavaScript and Python dependencies. It was reported that it raised $ 20 million in the Series A financing round. Click for more information.

Eduverse is a platform that aims to revolutionise education with the power of Metaverse. Eduverse, an education-focused metaverse startup, received investment.  Click for more information.

Turkish gaming startup Arvis Games announced that it has received a $500,000 seed investment. Boğaziçi Ventures managed the $ 500 thousand seed investment round of the Turkish gaming startup. Click for more information.

Apollo IoT, a Turkish cloud-based digital energy platform, announced that it received $675,000 in seed round investment. Click for more information.

GoStudent recently raised an additional $95 million in funding from investors including Deutsche Bank, Left Lane Capital, DN Capital, Tencent, Prosus, DST, Coatue, and Softbank Vision Fund 2. Click for more information.

What’s new this week

Introducing TranscribeGlass, an affordable AR device that attaches to your glasses and projects real-time subtitles in front of your eyes when paired with the transcription software of your choice. The device comes from CEO and co-founder Madhav Lavakare, Yale ’25, and co-founder Tom Pritsky M.S. Both students have close ties to the world of assistive technology. They pursued this idea independently before joining forces in 2021. Click for more information.

Rapyd, a payment platform that competes with Stripe and PayPal, announced that it has acquired the PayU Global Payment Organization (PayU GPO) from Dutch company Prosus for $610 million. The deal excludes PayU’s operations in India, Turkey and Southeast Asia. The announcement follows Rapyd’s recent statements that it is actively seeking opportunities to acquire leading payment companies. Click for more information.