Martı, the Turkish electric scooter startup that has grown in popularity in recent years, has succeeded to close the second investment round in late September, several months before the 2021 competition.

Although the amount invested in the electric scooter sharing service is unspecified, reports show that Martı received investment in Round B from BECO Capital, Kevin Ryan, the European Bank for Reconstruction and Development (EBRD), Endeavor Catalyst, Autotech Ventures, and the Actera Group.

However, the speculations were that investment is worth at least $20 million.

Founded in the USA on April 30, 2021, Marti Technologies INC, Martı, founded by the young Turkish entrepreneur Oğuz Alper Öktem and his sister Sena, was frequently the subject of the news due to its easing of transportation by offering greener, more sustainable transportation alternative that cuts the city’s pollution.

Martı, valued at $100 -150m in Dealroom.co’s estimates in Jul 2020, has raised a total of $2M in funding over 3 rounds, and its latest funding, the amount of which is unknown, was raised on Jul 14, 2021, from a Series B round with Autotech Ventures and Endeavor Catalyst being the most recent investors.

Previously on May 26, 2021, the European Bank for Reconstruction and Development’s (EBRD) fund named Actera III, invested in Turkey’s leading electric scooter sharing initiative in joint investment with Turkey-focused private equity firm Actera.

Istanbul-based Venture Capital firm 212 has also announced investing in Martı when launching their second €49.3M ($58M) Fund, allocated for startups across Europe, MENA, as well as Turkey.

Beside in Martı, 212’s Fund II is invested in 12 companies to date: including OMMA, SmartMessage, Avatao, Meddy, Metrobi, Chooch, AI, Fazla Gıda, MallIQ, and Trio Mobil.

Previously in July 2020, 212 and Wamda Capital had invested $25 million in Martı.

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