Some $111 million (TL 2.91 billion) in capital poured into the Turkish startup ecosystem through 130 investment rounds in the first half of 2023 with a particular interest shown in ventures engaged in gaming and cybersecurity, according to data from an industry monitor. Similarly, to the global trend, the investment in Türkiye declined, as venture capital funding worldwide plummeted in the first six months, as wary investors stayed away, coupled with lower demand amid sharply higher interest rates.

Still, the amount and deal counts are eventually expected to surpass the pre-pandemic period. The latest data was shared at an event hosted by startups.watch, gathering investors and entrepreneurs in the startup ecosystem. The event brought together startups and investors who sealed notable investment agreements in the second quarter.