14 Early-Stage Turkish Startups to Watch in 2024, According to Investors

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2023 Global Startup Ecosystems Report prepared by Startup Genome reveals that Istanbul has emerged as one of the world’s most successful cities in terms of entrepreneurship and innovation. It secured the top spot in the Strong Early-Stage Ecosystems ranking. The report particularly highlights the investment in nearly 600 early-stage startups in Istanbul over the past year. Additionally, the success of the gaming sector plays a significant role in this achievement, with Dream Games raising $50 million in a Series A round in 2021 and Ace Games securing $33 million in early-stage funding in 2022. Istanbul also stands out in the “Funding” category, ranking among the top 35 global ecosystems and the top 10 European ecosystems in terms of early-stage funding and investor activity.

in4startups ,which was established in 2022 by Ahmet Sefa Bir and Şerafettin Özsoy, supports investors in discovering startups for investment through their annual ” Early-Stage Turkish Startups to Watch” competition. Applications are accepted from all over Turkey for the competition. After passing the initial evaluation, the startups that apply to the competition are assessed by 80 leading figures – a significant majority of which are investors- from the Turkish Startup Ecosystem, considering various criteria such as product-market fit, team quality, and sustainability in terms of commercialization potential. Each year, a Startup Investment Summit is organized with the selected startups, bringing them together with investors. This year, 14 startups to watch in 2024 were identified in the “Early-Stage Turkish Startups to Watch” Competition. Here is the list of these startups:

1. Refresh the Future:

“Refresh” is a digital packaging service that provides end-users and businesses in the food and beverage sector with an environmentally friendly, reusable packaging experience to reduce single-use packaging waste, supporting a circular economy.

2. SOWEC

SOWEC is an energy system that generates electricity from wave energy.

3. TRAICK          

TRAICK is an AI-based web application developed for the differential diagnosis of thyroid nodules, enabling early detection.

4. Algbio

Algbio, industrial/municipal/agricultural facilities treat their industrial/domestic/wastewater and CO2 using microalgae in a circular economy model, producing biofuel, bioplastic, and bio-materials while generating carbon credits. It facilitates the transition from a fossil fuel-based economy to a sustainable production model in the industry.

5. Joysper

Joysper provides a solution for the education of children with autism aged 3-12 by offering an artificial intelligence-based interactive educational robot. It supports the development of children through personalized content.

6. WASK             

WASK is a SaaS (Software as a Service) product that assists digital advertisers in managing their paid campaigns more effectively without the need for technical expertise. It enables advertisers to reach more potential customers with a reduced budget.

7. Beetinq         

Beetinq is an artificial intelligence-supported mobile business assistant developed to address the planning, sharing, archiving, analysis, and networking challenges experienced during meetings and events.

8. 3pmetrics     

3pmetrics enables the digitization of sustainability by allowing you to calculate and report processes such as carbon footprint, water footprint, and ESG compliance analysis in just one day.

9. Semruk

Semruk develops artificial intelligence-based software that analyzes dental diseases from radiographs, marking the affected areas to assist dentists in diagnosis and decision-making.

10. Diginak

Diginak facilitates trade between parties in the transportation sector by reducing financial issues associated with freight purchasing in order to streamline transactions.

11. Plavel

Plavel offers travel enthusiasts the perfect travel plan by asking the right questions and understanding what they expect from a vacation through its artificial intelligence-supported algorithm and digital guides, providing a meticulously prepared itinerary with all the details.

12. Oxytec

They provide the capability to remotely, continuously, and accurately measure the oxygen levels in water, which is crucial for living organisms, using their state-of-the-art optical dissolved oxygen sensors, OXTEC. This technology is essential for monitoring the oxygen levels in water in aquaculture farms, drinking water facilities, and wastewater treatment plants where tracking is mandatory.

13.SignForDeaf

Sign for Deaf is developing artificial intelligence-supported sustainable sign language translation systems to enable individuals with hearing impairments, who may be non-literate or have difficulty understanding written content, to access rapidly changing information in their native sign language in today’s technology world.

14. KROW

KROW is an artificial intelligence-supported mobile learning ecosystem designed to provide students preparing for centralized exams with cost-effective and enjoyable access to high-quality questions. It includes an explanatory feedback system, a first-of-its-kind in Turkey, that facilitates learning by offering clear feedback. Additionally, it provides up-to-date rankings among competitors.

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