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bne May 2020 Southeast Europe I 45
while 78% of investments were below $1mn versus 82% in Q1 2019.
In Q1 this year, $4mn was invested in seed-funding-stage start-ups while $11mn went to early-stage and $5mn to late-stage.
Seven software companies attracted
a total of $10.4mn, two fintechs got $5.2mn, three proptechs (property technology enterprises) raised $5.1mn, five artificial intelligence companies landed $4.7mn and three deep-techs brought in $4.2mn.
In February, Amazon acquired San Francisco-based data processing firm
it provides an online platform for property managers and it was 240th on the Deloitte Fast 500 EMEA 2018 ranking), Thundra (launched in 2017, it offers application observability and a security platform), App Samurai (mobile advertising platform), Vispera (launched in 2014, visual intelligence for retail), Biolive, PriSync, Mutlubiev, Temizlikyolda, Jib Games and Otsimo.
Three new angel and venture capital funds, namely Revo Capital II, ScaleX Ventures and Teknoloji Yatirim (TTGV1 Co-investment Fund) were established in Turkey in Q1.
22 ventures
Revo has investments in 22 ventures, including e-invoicer Foriba (sold to US-based Sovos), Skyatlas (a cloud infrastructure provider sold to Istanbul- based Kartaca) and delivery service application Getir. Revo Capital Fund I took in $66mn.
Ah, good, now we are fairly motoring away from the “native and national” car (registered with the European Union's Intellectual Property Office, or EUIPO, donchaknow).
In March, Getir was awarded a contract to defy the coronavirus with the delivery of 300,000 Istanbul Governorship food support packages to 50,000 senior citizens. No tender, as per usual, was held and no price information was disclosed, but local media reported that Getir would finance 10,000 packages worth TRY1.5mn from its own resources.
Investments in Turkish startups remained flat at $19.8mn in the first quarter compared to $19.6mn in Q1 2019, but that was before Turkey joined the world as a fully paid-up member
of the coronavirus fiasco, according
to data from local startup portal Startups.Watch.
Major M&As
As if it needed saying, a dramatic fall is expected in the second quarter, although Turkish statisticians do tend to come up with some very curious official statistics.
A total of 27 startups attracted investments in Q1 versus 13 a year ago,
DataRow from Istanbul-based parent TeamSQL for an undisclosed sum.
The top 10 fundraisers – accounting for 91% of a total $19.8mn that went to Turkish startups in the first quarter – were Apsiyon (launched in 2009,
“In March, Revo Capital Fund II achieved a first closing with over €41mn in capital commitments”
Date
Sold
Stake
Price
Buyer
Seller
Apr-20
CY Vision
-
TRY13.5mn
Revo
-
Feb-20
Gunes Sigorta
10%
-
TVF
Groupama
Feb-20
Yapi Kredi
12%
€400mn
Placement
UniCredit
Feb-20
Novartis' plant
-
-
Generica
Novartis
Jan-20
SODA, ANACM, TRKCM, DENCM
-
-
Sisecam
Merger
Jan-20
McDonald's Turkey
100%
TRY281mn
Birlesik Holding
Anadolu Group
Jan-20
Sanovel
30%
$200mn
Yamma Investments
Toksoz Group
Jan-20
Total, M Oil
100%
$360mn
Oyak
Demiroren
Jan-20
Glovo Turkey
100%
-
Exit
Glovo
Jan-20
JCR Eurasia
85.05%
-
Consortium
Japan Credit Rating Agency
Jan-20
Intourist
100%
-
Anex Tour
Thomas Cook
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