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IT company TeaTechs Smart Solutions, which produces smart solutions with BI, received its first investment from Netherlands and Turkey-based ISTCAPITAL. Completing its seed investment tour with a valuation of 2.5 million, the company became the fifth investment of a venture capital that previously invested in leading ventures in the USA, UK and Turkey.

*** This release is originally published in Turkish.

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ISTANBUL (TR) - In the startup ecosystem, which completed H1 2022 with a total investment of 1.4 billion dollars, investment news for H2 began to come. Information technologies company TeaTechs Smart Solutions, which produces smart solutions with business intelligence, completed its seed investment tour under the leadership of ISTCAPITAL, which invests in early stage startups with its headquarters in the Netherlands and Turkey. SaaS (Software as a Service) company, which has reached a valuation of 2.5 million, is the most recent investment in Turkey by ISTCAPITAL, which has previously invested in startups such as 11sight in the USA, Wiseworks in the UK, Vispera and Magnus in Turkey.

TeaTechs Smart Solutions CEO Tunç Emre Toptaş said, “TeaTechs, which we launched in March 2022 with my partners Ali Güven and Emrah Erşen, who have more than 30 years of experience in the software industry, reached valuation of 2.5 million dollars in only 4 months. We are proud that we have grown so fast in current economic conditions and have turned into one of the strategic partners of a qualified venture capital company like ISTCAPITAL.”

Guiding digital transformation processes

Established in Ankara at the end of Q1 2022, TeaTechs Smart Solutions provides solutions in areas such as artificial intelligence, internet of things, internet of behavior, geographic information systems, DevOps and software as a service, guiding the digital transformation processes of businesses of all sizes. TeaTechs, a 100% local and national software company that offers web and mobile-based innovative products that can be customized according to industry and business needs, helps customers transform all data related to business processes into qualified insights.

“We need a stronger momentum in digitalization”

Reminding that in the Turkey's Digital Transformation Index Report prepared by TÜBİSAD, it is seen that our country's digitalization score increased from 3.03 to 3.24 in 2021 compared to the previous year, and said, “The global pandemic has made digitalization a priority in every industry and scale.. Although StartupCentrum's report evaluating H1 2022 shows that the January-June period is the half year in which the most investments are made in technology companies, we think that we need to achieve a stronger momentum in digitalization. We are working to turn this trend into global records by bringing together our individual experiences of more than 30 years under the roof of TeaTechs. As a 100% domestic and national software company, we aim to introduce every company to the possibilities of digital, and to deliver proven solutions to different geographies.”

“SaaS is one of the fastest growing industries”

Tunç Emre Toptaş, CEO of TeaTechs Smart Solutions, underlined the fact that the SaaS sector is one of the fastest growing sectors, enabling various applications such as customer relationship management, business intelligence, supply chain management and e-commerce platforms to be used over cloud platforms, and told: "We are witnessing a period in which the technology paradigm is changing on a global scale. Data is becoming increasingly important, and SaaS solutions that are expected to be worth over $700 billion by 2030 are helping to turn that data into meaningful outputs. By utilizing SaaS solutions in their core business functions, businesses can gain a broader perspective on the field in which they operate. As TeaTechs, we aim to become a world brand in the field of SaaS by taking strength from the financing we have provided from ISTCAPITAL.”