What happened in the startup ecosystem this week? 25

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: Cranium Receives $25 Million Investment

Startups that received investment

Novus, an Istanbul and Boston-based startup that offers users up-to-date, authentic, verified texts in seconds with the NLP (Natural Language Processing) technologies it has developed, received an investment of 500 thousand dollars. Click for more information.

Doktar, a Turkish startup, received investment. The Turkish startup develops solutions for the digital transformation of the agriculture and food industry. Click for more information.

AdCreative.ai received investment. Koç Holding invested in AdCreative.ai in an investment round led by Inventram, a venture capital firm within the company. Financial details of the investment have not yet been disclosed. Click for more information.

Roombadi is an impact-orientated startup that spreads to 81 provinces of Turkey and 288 countries, offering different alternatives to employees and students with both the aspect of finding a roommate and the activities created by users for the sharing ecosystem. Click for more information.

Cranium, which offers specialised compliance and security software for artificial intelligence models, raised $25 million in a Series A investment round. Telstra Ventures led the investment. Click for more information.

This week's news

Patika.dev, with its Web3-focused global brand Rise In, has acquired US-based Web3-focused education technology company BlockBeam. Financial details of the acquisition have not yet been disclosed. Thanks to this new acquisition, Rise In aims to expand its community of more than 200 thousand talents to the US. Details are in our news. Click for more information.

Flourish Ventures has created a new $350 million fund to invest in fintech startups in the Americas and emerging markets such as Africa and Latin America. Note for the new fund. Founded in 2019, Flourish Ventures’ total assets under management increased to $ 850 million. Unlike traditional venture firms, Flourish is an evergreen firm. This means that its investments are open-ended or do not have a fixed end date. Click for more information.

Plug and Play, the world’s largest innovation platform, will be held in Istanbul on 2 November. Plug and Play Turkey EXPO 2023 event will bring together senior executives of organisations in its ecosystem, global startups and industry experts. The world’s largest innovation platform Plug and Play, which has been operating in Turkey since January 2021, is meeting with its ecosystem in Turkey. In the event to be hosted by the company’s founding CEO Saeed Amidi and Plug and Play Turkey and EMEA Regional Director Lale Can Gözübüyük in Istanbul, senior executives of the company’s partners in the Turkish ecosystem, Akbank, Aygaz, Enerjisa, İGA, MEXT, Otokoç and TOGG will share their experiences in their innovation journey. Click for more information.