What happened in the startup ecosystem this week? 30

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 See: Bristol Based Huboo Receives £29 Million Investment

Startups that received investment

Neuralink, the company founded by Elon Musk, has raised an additional $43 million in venture capital. Click for more information.

ELTA360 announced that it has received its first investment from Inventures at a valuation of $ 2 million. The Turkish startup will grow the company team with the investment it has received and use it in R&D studies. Click for more information.

OQC, global leaders in quantum computing as a service (QCaaS), announced that OQC Toshiko, the world’s first enterprise-ready quantum computing platform, is now open to the public. Meanwhile, SBI Investment, Japan’s leading VC fund, is leading OQC’s $100 million round. Click for more information.

Lassie, a pet health app and insurance provider, has received 23 million euros in Series B funding led by Balderton Capital. Lassie has reportedly raised a total of 36.5 million euros so far. Click for more information.

E-commerce-based investment company Fevup Brands announced that it received an investment of TRY 23 million 788 thousand 710 from Mercan Kimya. Click for more information.

Pika, the company reimagining the entire video creation and editing experience with artificial intelligence, is going public. The launch took place alongside the announcement of a $35 million Series A round led by Lightspeed Venture Partners. Click for more information.

Turkish application and mobile game startup Tiamo Games received an investment of TRY 22.5 million from Alesta Investment, which invests in early-stage technology startups. Click for more information.

Generative AI companies continue to raise large amounts of capital to fuel their commercial and, in some cases, open source ambitions. See Together, a startup building open source generative AI and AI model development infrastructure, announced that it has completed a $102.5 million Series A funding round led by Kleiner Perkins with participation from Nvidia and Emergence Capital. Click for more information.

Innovasion Labs PINC was founded in the USA by Turkish scientist and entrepreneur Dr Inanc Ortac. The startup provides improvements in the performance of lithium-ion batteries. Innovasion Labs PINC received an investment of $2 million in a new investment round with the participation of investors from Turkey and the US. Click for more information.

Bristol-based Huboo provides logistics and infrastructure services for e-commerce platforms. Huboo also received £ 29 million investment. HSBC, Blackrock, Maersk Growth and Ada Ventures participated in the investment round. Click for more information.

What’s new this week

Fintech startup Flow48 announced US$25 million in pre-Series A funding. This marks a significant milestone in its mission to push the boundaries of SME lending. The round, a mix of equity and debt, includes notable investors such as Speedinvest, Daphni, 212, Blockchain Founders Fund, Unpopular Ventures, Endeavour Catalyst and TLG, as well as angel investors including NEA’s Scott Sandell. Click for more information.

212, Turkey’s first venture capital fund, continues to invest in software, technology and fintech companies offering services in the global arena. The company made its second fintech investment after iyzico to Flow 48, a France-based fintech company operating in the Middle East and North Africa Region. Flow48, which provides services in the field of revenue based financing (revenue based financing), received an investment of $ 25 million in the pre-Series A investment round, including 212. Click for more information.

Skywell is preparing to establish an electric car and battery factory in Turkey. China-based electric car brand Skywell has been taking important steps since the first day it entered the Turkish market. Speaking to BloombergHT, Skywell Turkey CEO Mahmut Ulubaş announced that the brand will produce vehicles and batteries in Turkey with an investment of 1.6 billion dollars. Thus, the company will realise Turkey’s second electric car factory. Click for more information.