Turkish startups secure $1.4B investments in 2024: Report
File photo shows a businessperson analyzing a data chart while working on a laptop. (Adobe Stock Photo)
A total of 577 investment rounds took place in Türkiye in 2024, with startups securing $1.41 billion in funding, according to the “2024 Türkiye Startup Ecosystem Funding Report” released by StartupCentrum.
According to Türkiye daily, public sector funds played a significant role, with 57% of total investment rounds (329 rounds) backed by government-funded initiatives, amounting to $8.5 million.
However, private sector investments declined by 30% compared to the previous year, dropping to 248 rounds. Despite this decline, the total value of private sector investments reached $1.398 billion.
Foreign investments accounted for 21% of total funding, excluding the government-backed funds.
Türkiye’s startup trends in 2024
- Top-funded startups: The AI-native customer engagement platform Insider secured the largest investment round with $500 million, followed by the rapid on-demand delivery service Getir, which raised $250 million. Meanwhile, the mobile gaming company Spyke Games, the FinTech services Colendi and Midas and the AI-enhanced workplace safety platform Intenseye also attracted significant funding.
- Artificial Intelligence (AI) leads investments: AI startups received the highest funding, securing $715.8 million, while the biotechnology and healthcare sector had the most investment rounds, supporting 126 startups.
- Increase in women-led startups: The share of startups with at least one female co-founder rose to 32.2%, reflecting a stronger presence of women entrepreneurs in the ecosystem.
- Tech parks see record investment growth: Investments in tech park startups soared to $824.82 million, more than tripling from $237.71 million in 2023, with Insider playing a key role in this rise.
- Leading universities for startup founders: Middle East Technical University (METU), Bogazici University, and Istanbul Technical University (ITU) had the highest number of alumni who became startup founders and secured investments, followed by Koc University and Anadolu University.
