Gaming startups in Türkiye continue to attract attention in the startup ecosystem with investment agreements, as another venture has managed to raise a notable capital in a fresh investment round.
Grand Games received a $3 million pre-seed investment led by Earlybird Digital East Fund. The round marked Earlybird’s first investment in the game sector after Peak Games, which became Türkiye’s first unicorn startup in mid-2020.
Founded by Bekir Batuhan Çelebi, Mustafa Fırtına and Mehmet Çalım, who previously worked at leading game companies in the sector such as Good Job Games and Moon Active, and held leadership positions in games such as Zen Match and Wonder Blast, Grand Games set out to develop long-lasting mobile games that will be played by millions.
Successful games decrease
Grand Games co-founder Çelebi noted that while the number of companies in the gaming sector has increased significantly in the past five years, the number of successful games has decreased.
“Although the gaming sector is on the rise, innovative and quality productions are very rare. At Grand Games, we will develop high-quality games focused on chance and social competition with our emotion-centered approach. We are fully confident in our success with our team and strategy, which includes highly experienced people in software, product development, art and marketing.”
New unicorn
Believing in the power of fast production and quick feedback from users, Grand Games announced that they have released their first games.
Magic Sort!, available on iOS and Android platforms, was unveiled in the U.S. as a soft launch. Providing hints about new games, Çelebi said after focusing on puzzle games in their first months, they plan to launch their flagship game, which he says will take social competition and interaction to a whole new level, in early 2025.
He stated that they would use the investment to build a team of passionate people like themselves who are dedicated to changing the gaming ecosystem.
“Our goal is to be among the companies that have reached unicorn status in the gaming ecosystem, like Peak Games and Dream Games. We thank our pre-seed investors who believed in us and supported us on this journey,” said Çelebi.
Earlybird’s 2nd investment in Türkiye
Laton Ventures also participated in the investment round led by Earlybird Digital East Fund. Targeting technology innovators in Europe, Earlybird had previously invested in Türkiye’s first unicorn, Peak Games, which was sold to Zynga for $1.8 billion in June 2020.
The investment in Grand Games marked Earlybird’s second game investment in Türkiye.
Oğuzhan Özer from Earlybird Digital East Fund, highlighting Türkiye’s success in developing mobile games that top app stores and are loved worldwide, said, “We have witnessed the decadelong development of the gaming ecosystem in Türkiye, and its transformation into a global hub, especially after the acquisition of Peak Games.”
“As a selective investment firm aware of the sector’s challenges, what made Grand Games stand out for us was the quality of their team and their vision. We are very pleased to support them on this exciting journey.”
Görkem Türk, founder of Laton Ventures, which was established with the support of leading names in the gaming sector, said they “firmly believe that Grand Games, founded by visionary founders raised with the culture of globally successful companies, will write new success stories.”
AI startup Cohere reaches $5 billion valuation
TT Ventures, the venture capital company established by Türk Telekom to support innovative startup ideas and create value in the startup ecosystem, plays an important role in shaping the future by supporting technology-focused startups.
The AI startup Cohere, which is part of the Digital Transformation Capital Partners (DTCP) fund that includes Türk Telekom Ventures alongside global telecom and technology companies, received a $450 million investment at a valuation of $5 billion.
TT Ventures General Manager Muhammed Özhan said the company not only takes Turkish startups abroad but also plays an “important role in shaping the future by investing in startups that will change the world.”
“Cohere, in the field of generative AI that has affected the entire world, is one of these startups. We are pleased that Cohere’s innovations will offer pioneering contributions to our country and technology ecosystem,” said Özhan.
$450 million investment
Supporting Turkish startups and serving as a bridge for their global expansion, Türk Telekom Ventures aims to grow the Turkish entrepreneurship ecosystem and carry Türkiye into the future with new technologies by investing in various funds in the global entrepreneurship ecosystem.
The Canada-based startup, Cohere develops foundation models and is seen as a competitor to major technology firms like OpenAI in the field of generative AI.
Özhan said the company had received a $270 million investment in 2023 at a valuation of $2.2 billion. “We can say that it has more than doubled its valuation in just one year,” he noted.
Peer-to-peer car-sharing platform Rentive raises $350K
The peer-to-peer car-sharing platform Rentiva has received an investment of TL 11.7 million (around $350,000), which it seeks to utilize to expand its services to new cities in Türkiye.
Founded in Istanbul under the motto “Yola Çık” (Hit the Road), the platform connects car owners who want to earn income by renting out their vehicles with renters who seek guaranteed best prices, convenient locations and reliable car rental services.
Renters can benefit from both daily and monthly rental options.
Rentiva CEO Eren Alkış stated that peer-to-peer car sharing continues to grow, saying, “We support car owners in covering their increasing costs and additionally earning income, thus boosting household income.”
“Soon, we will announce new models to support people who want to own a car but have insufficient budgets, helping them achieve their dreams. As the only platform in Türkiye where people can safely earn income from their cars, the trust and support of our investors are very important to us,” said Alkış.
Over 30,000 registered cars
Rentiva, which currently operates in Istanbul with over 170,000 registered members and more than 30,000 registered cars, will expand its services to five more cities with the latest investment.
The investment round was led by Mustafa Atilla and included participants such as Erman Kumcu, Orhan Çetin, Mustafa Erdem Demirkol, Elif Palancı, Ahmet Demirel, Can Doğancoşkun, Ömer Yiğit Aykan, Onur Ergönen, Duygu Acar Yücesoy, Gökhan Tataroğlu, Ceyhun Aksan and Berk Can Köybaşıoğlu.
Hidden dangers of everyday tech: Protect yourself from spyware
With the widespread use of the internet today, cybersecurity threats are increasing daily, with many spyware programs infecting users through commonly used USB-enabled chargers, QR codes and shared WiFi areas.
Timus Cybersecurity Country Manager Artuğ Tikiç emphasizes that spyware programs designed to steal user information and use it for malicious purposes can cause significant damage. He warns consumers, particularly about the USB chargers, QR codes and Wi-Fi networks used in cafes and restaurants.
While the internet provides advantages for communication and access to information in an increasingly digital world, it also carries significant risks in terms of cybersecurity threats.
Tikiç explains the points to pay attention to and the precautions that can be taken regarding these dangers.
Carry your own charger
He highlights the need for consumers to be cautious about cybersecurity threats and spyware programs, stating: “USB chargers used in cafes and restaurants especially attract cyberattacks. Spyware programs loaded onto phones via USB can access all sorts of information, from personal data to bank details.”
Additionally, Tikiç says Wi-Fi networks and QR codes used at home, school, work or in any cafe also pose significant risks for cyberattacks. “Public Wi-Fi networks, in particular, pose major threats in terms of man-in-the-middle attacks, data theft and malicious software.”
Connect to trusted networks
Tikiç explains that man-in-the-middle attacks target individual users by impersonating an existing Wi-Fi connection to lure them in.
“When users connect to this fake network, the attacker can access, steal online data and even install malicious software. Serious security issues can arise, especially if sensitive information is shared. To prevent such risks, ensure the verification of sources and connect to trusted networks when using public Wi-Fi,” he said.
“Additionally, using a VPN can help protect data by encrypting it from malicious attacks. Another precaution against such social engineering attacks is to install up-to-date antivirus software on devices. Avoiding the sharing of sensitive information over Wi-Fi is also among the other precautions that can be taken,” he added.
