NEWSROOM

The entrepreneurship ecosystem in Turkey witnessed the growth of startups from every business line with innovative solutions. A local enterprise, which produces technology solutions in transportation and logistics, is positioned as a marketplace between transporters and consumers, received an investment of 11.5 million TL.

*** This release is originally published in Turkish.

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ISTANBUL (TR) - Despite the signs of global economic slowdown, the Turkish entrepreneurship ecosystem has continued to grow unabated since the beginning of 2022. According to current data, while it is known that a total of $1.27 billion investment agreements were made in the first quarter of 2022, local entrepreneurs managed to stand out from the competition with world-class technology and business models. The latest news on this issue came from Octovan, which was established in 2017 to serve the logistics industry and is positioned as a marketplace that brings together shipping companies and customers. Focusing on e-commerce logistics with its new service Octovan Express announced in January 2022, Octovan received an investment of 11.5 million TL in the financing round that Arz Portfolio and Vinci Investment participated.

Commenting on the investment process, Octovan CEO Erhan Güneş said, “As of 2022, we achieved a significant growth momentum and we are growing without slowing down with our Octovan Express service. With the financing we have obtained from the investment round we have already completed, we aim to perfect our model in Turkey. We are also working to start the overseas operations of some companies we currently work with in Turkey. On the other hand, we plan to start Series A investment negotiations in the near future.”

Focuses on customer satisfaction by combining logistics with technology

Stating that Octovan was established as a marketplace for urban and intercity transportation services, bringing together corporate and individual customers who need reliable transportation companies with smooth transportation services, Erhan Güneş said, “With the user-oriented interface of our mobile applications and our approach that prioritizes customer satisfaction, we provide services with fixed prices and guarantees such as insurance. With the Octovan Express service, which we announced as of January 2022, we started to offer instant delivery solutions in e-commerce through a model that receives and delivers products with same-day delivery, appointment delivery and photography. With this service, we work in cooperation with many marketplaces such as Trendyol, N11, Doğtaş, Arçelik, Pazarama, Vodafone. With Octovan Express solutions, we want to prove that this business can be done with customer satisfaction by combining technology and logistics in the transportation sector, where everyone encounters problems in the world.”

Large product delivery in 8.5 hours in Istanbul

Octovan CEO Erhan Güneş stated that Octovan Express, its solution that offers a delivery guarantee within 24 hours within the city and 72 hours between cities and focuses on product transportation of 30 decimeters and above corresponding to the microwave oven size, has experienced a 10-fold growth in the number of deliveries and a 15-fold growth on the basis of volume in the last 6 months. Güneş added, “Last year, we tested our product for 6 months and ensured that our software works flawlessly. Today, Octovan Express is 99.97% in compliance with the 24-hour guarantee in the city. Our average delivery time in Istanbul is 8.5 hours. In the deliveries made by appointment, the products are delivered to the customer's door even if there is no elevator in the buildings. Although fast delivery is gaining importance, competition is very low in 30 desi product transportation. At Octovan, we work with more than 1,200 shipping companies, each specializing in the transportation of large goods. With the investment we have received, we will continue to contribute to the customer satisfaction of companies that need large product transportation, especially e-commerce companies and white goods and furniture manufacturers, and work to make the lives of consumers easier.”

Arz Gayrimenkul ve Private Equity Portfolio Management General Manager and Member of the Board of Directors Murat Onuk, emphasized that innovation and entrepreneurship activities can have a significant impact on the growth and development of economies to the extent that they can be supported by venture capital investments. He continued: “With the venture capital investment funds we manage, especially the Teknogirişim Venture Capital Investment Fund, which we have recently launched within the scope of the Tech-InvestTR program, we will be able to operate on an international scale by developing innovative business models and solutions that contribute to the digital transformation of economies. We will continue to support technology-based new generation Turkish venture companies as always.”

Saying that successful entrepreneurship examples from our country to the world will increase rapidly in the coming period, Onuk stated, “We observe that our venture companies, which have managed to attract the attention of investors around the world, operate in different fields, especially in gaming, logistics technologies and deep technologies. We, as venture capital investors, will continue to show great efforts to fulfill our duties in order to contribute to our country's becoming the epicenter of entrepreneurial activities around the world, without being limited to the areas that are the subject of our discussion.”

Vinci Investment Committee Chairman Waterfall Zaim Gorton said, “Following the pandemic, buying permanent bulky items over the internet has now become normal and widespread. This is not just a situation specific to the Turkish market, it is a mega trend. Octovan, the pioneer and leader of the bulky goods category in our country, will reinforce its position in the market and take the first steps of its overseas structuring with this investment. We will continue to support Octovan on this journey with our expertise and connections in the logistics sector, as we have been for three years.”